US Branch of 7th Largest Accounting Firm, Grant Thornton, to Leverage EOS Blockchain
- Accounting giant firm Grant Thornton migrates clients’ inter-company transactions to EOS Blockchain via their platform Inter.x.
- The users of Inter.x will now be able to track inter-company transactions by following unforgeable data trails.
It has been reported that industry titan in the US accounting sphere, Grant Thornton is migrating all their customer base intercompany transactions to EISIO. Their new Inter.X platform now leverages the Blockchain solution to process intercompany transactions.
— Grant Thornton (@GrantThorntonUS) April 30, 2020
This is set to include real-time analytics that will now keep track of compliance of pricing and treasury management to uphold transparency. The US Grant Thornton is part of the larger Grant Thornton International.
Intercompany transactions have been reported to be among the top most common scenarios of corporate financial amendments. They are often the hotbed of core fraudulent activities, errors, and time wastage. The chief transformation officer at Grant Thornton, Jamie Fowler is confident that Inter.x has a straightforward outlook that is able to investigate missed chances while identifying scenarios where the transactions haven’t complied with company standards.
The platform will also give the companies the ability to make quick decisions as opposed to the traditional bureaucratic approach that took effect monthly or even annually. The users of Inter.x could now trace transactions by following a trail that is practically unforgeable ensuring data integrity.
Coming up with the exact volume for their intercompany proceedings may prove to be a daunting task according to their spokesperson. However, the company made an estimated $1.9 billion in income for the last financial year according to the press release. This represents a gradual annual growth of 5.4% which according to the CEO, Bradley Preber was attributed by their combining of cutting edge tech and their business expertise to deliver value to clients.
“We posted historic revenues last year… By combining technology solutions with business knowledge we’re helping clients drive efficiencies, lower risk and improve quality”
The EOS.io 2.0 Update
Notably, the development firm behind the EOS Blockchain, Block.one released the EOS.io 2.0. this January barely three months after they released their previous version. This is the software on which the EOS Blockchain runs on. It has been reported that the EOS.io 2.0 outperforms its predecessor by up to 16 times which is even faster than Ethereum.