The Economist said on 23 March 2023 “The next big thing in business automation is Process Mining which will help automate business long before chatbots do by identifying process inefficiencies”.

Pacio with its TARI® and TEA (Triple Entry Accounting) systems will enable this prediction for businesses of all sizes, and in an even better way than The Economist envisaged. Pacio systems will not only identify process inefficiencies but also facilitate real time improvements in unit service and product outputs of up to 40% by helping businesses identify which products or services are doing the “heavy lifting” in contributing to profit, thereby boosting net profit by up to 96%, as per the work of Professor Keith Cleland and associates described in the Pacio Whitepaper.

The Economist put it as “Software-makers are now finding ways to untangle the procedural spaghetti [of business processes with inefficiencies of between 20 and 30% of revenue] with the help of ‘process mining’. Its dull name notwithstanding, it is one of the fastest-growing areas of information technology (IT). It generated around $1bn in annual sales in 2022, reckons Gartner, an IT consultancy, and could treble in size in the next few years. Celonis, a German process-miner, recently raised $1bn at a valuation of $13bn, making it Germany’s biggest startup and its hottest tech success story since SAP, a business-software giant, was founded 50 years ago.”

Apps using Pacio TARI® and TEA systems can do all that, importantly for any size of business, as they can access all the required data in real time and make use of AI systems or chatbots to suggest process improvements to drastically cut those 20 to 30% of revenue inefficiencies.

Given how TARI® has already been proven to have the potential on its own merits to provide 40% type productivity improvements, the combination with process mining to reduce process inefficiencies, has world changing implications.

Confirmation of the strategy is provided by Coupa, a business spend optimising supplier which competes with SAP. Coupa digitises the purchasing and procurement processes for businesses and makes money by analysing large quantities of corporate transactional data, looking for areas of inefficiency. It has been acquired by private equity giant Thoma Bravo in a transaction worth $US8bn.

Mark Innes, the Coupa Vice-President for Asia-Pacific and Japan, was quoted in a 6 April 2023 article in The Australian as saying “I would say the back office is where systems are often 15 or 20 years old, and there’s scrutiny and pressure now on financial performance, profitability and customer management.” He went on to say that Coupa gave organisations full visibility into where every company dollar was spent, and that many organisations didn’t have that capability today given their legacy systems were often two decades old.

Mark may be correct in that assessment, but in Pacio’s view that is only a part of what this is all about, as even businesses using the latest IT systems, still often fail to know which products or services are profitable, and what really impacts bottom-line performance of the business. TARI® provides that clarity.

The combination of Pacio’s TARI® with real time TEA providing security (fraud reduction) plus real time access, and process mining is what will be the transformative “Next Big Thing in Business Automation”.


Results from the world’s largest trial of a 4 day working week involving 60 companies and almost 3,000 staff in the UK are largely positive.

The results show that business productivity and business performance improved, as did the health and well-being of employees also improve.

Dr Keith Cleland (Steinbeis University Berlin Professor Emeritus and Pacio founder) comments “The trial result of greater productivity is explained by our in-depth studies involving industrial, commercial and retail businesses across USA, UK, and Europe over the past 25 years which clearly demonstrate that billed or productive output represents on average less than 40% – or 16 hours – of a typical current 40 hour 5 day working week.

This low 16 hour result explains how a 4 day working week can perhaps counterintuitively to some, actually give more useful output. It is easy to understand how more than the average 16 productive hours of a 5 day week could result from a happier healthier working environment in 4 days.”

The simple yet highly effective means of identifying actual productivity has been formalised in the TARI® management system for integration with ‘Triple Entry Accounting’ by Pacio to enable the benefits resulting from the work of Cleland et al, to be enjoyed by all businesses.

See TariInfo and Pacio, and in particular the Pacio Whitepaper which describes TARI®.


Pacio delivers a Semantic blockchain with a focus on management data. A key component is the target average rate index (TARI®). Here is a brief overview of the method to improve the bottom line of companies.


By Keith N. Cleland

“I can see that I am really in the business of selling time, and product happens to be the output,” exclaimed one proprietor following a pricing review of his product range. He was right. The review showed that although he paid for 20,000 hours of potential activity, only 10,000 hours could be traced to output. Quite clearly, the leakage was seriously impacting the bottom line.

Following several years of applied research across the spectrum of industry and commerce, I found that despite the latest available accounting-oriented software technology, very few businesses were positioned to seamlessly compare output with input.

In conjunction with computer guru Trevor Watters, a software tool was developed known as TARI® (target average rate index), making it possible for businesses to target and track input vs. output at any point in time, with results that speak for themselves. Businesses experiencing difficulties and winning only 1 in 16 quotes find they are now winning 1 in 4 quotes.

Businesses putting 25% on their jobs to cover profit seldom ending with more than 5%, find they are achieving profits they could never have imagined. Not just manufacturing and service sectors, distributors and retailers also share in a new way of looking at their businesses seeing change for the better in a matter of weeks.

Until now, TARI® has been a great stand-alone tool for corporations. The advance of blockchain will bring TARI® to the next level: TARI®-based accounting will be immutable, incorruptible and immediately audit-ready. This is especially important for entities with increased accountability needs such as non-profit organizations.

As professor and head of financial management at the IBR School of Executive Management, Steinbeis University Berlin, it has been possible to ensure TARI® is a key subject requiring on-the job- application within the IBR Global MBA program, with direct benefit for student and business alike.

In conjunction with Pacio’s Semantic blockchain (SSIM), we aim to achieve a global connection of entities and for the first time be positioned to follow money over the complete value chain. Pacioli’s invention of double-entry accounting in the 14th century can only go so far. Pacio with SSIM and TARI® will be the foundation of a globalized, interlinked and seamless data exchange. This will decrease fraud, friction, and loss of valuable information. It is about time.

Pacio is creating a decentralised semantic data application platform and will produce the first Semantic Business Web on blockchain.


Also published on Medium.


Leave a Reply

Your email address will not be published. Required fields are marked *