Intrachain offers a software solution that combines a process mining tool with a decentralized database. The service focuses on the collection of data in computer systems and the storage of these data in a tamper-proof and secure way on the blockchain.
This technological architecture allows for different use cases that led to the development of two products:
Intrachain Private is a B2C software that tracks personal user behavior and offers the possibility to store the data on the blockchain. The data are made available to the user for analysis via a user interface.
Intrachain Business also keeps track of user behavior data and transfers them to the blockchain. In a next step, these condensed data serve as the basis for the correct recording and allocation of intercompany services. Smart contracts are used to transfer the involved cost transactions to the right accounting systems within the group of companies. Thus, Intrachain Business is an accounting software combined with Distributed Ledger Technology that automates reconciliation practices.
The decentralized solution of the Intrachain Platform offers great advantages for both products: In comparison to standard servers, it provides significantly higher data security. This is an important aspect when taking customer demand for data transparency and the prevention of data manipulation into account.
Large corporations are highly inefficient.
They often consist of several hundred subsidiary companies, which are put together under one group. Managing transactions between these subsidiary companies is very inefficient, mainly because of two reasons:
Process mining combined with smart contracts
Intrachain provides a solution for both problems. The lack of information is fixed by the Intrachain Process Mining Engine. It enables each subsidiary company to drill down into their costs and identify single activities and their duration.
These activities are connected to the blockchain and get processed immediately using smart contracts. The smart contracts charge the receiving parties right away and handle the corresponding transactions.
Furthermore, the technology works across all IT infrastructures due to its decentralised blockchain. Therefore, it can easily be implemented at new subsidiaries. So it doesn't interfere with common M&A activities or infrastructure decisions.
Private users and businesses are increasingly affected by nontransparent data tracking methods and inaccurate data. Private users are therefore often unaware of their digital behavior. For businesses, the consequences are even greater: Important documents such as financial reports rely on data as one of the main information sources. If these data are incorrect, companies can suffer from fines, lack of trust of shareholders and wrong decision-making. Common practices in this regard, for example reconciliation or manual data errors corrections, are time-consuming and therefore very costly.
Intrachain’s solution aims at solving these major issues. Therefore, we created the world’s first process mining software with an integrated blockchain. Intrachain makes the collection of data trails easy, the cost transaction processes secure of human errors and helps to increase the overall database quality.
To gain a better overview of the trails of data, Intrachain’s process mining engine generates detailed data about user behavior and performed efforts. These data are then transmitted to the Intrachain blockchain where they are stored safely and transparently in a private blockchain. For Intrachain Business customers, the corresponding costs are then being allocated to the responsible entities and can be booked simultaneously via smart contracts. This way, companies gain a clear overview of their intracompany transactions and get rid of common flaws of current reconciliation methods.
Overview of Intrachain’s benefits
Within the role of CEO at Intrachain, Arne is responsible for defining Intrachain’s vision, overall strategy and business development.
With many years of experience in a large corporation, Klaus is driving the implementation of Intrachain's solution apace as CFO.
Niclas takes on the role as CMO at Intrachian. He is a branding and time tracking expert, and sales specialist with extensive knowledge in marketing.
Core Blockchain Developer
Blockchain PM Zwoop
Head of PM
Head of Digital Platforms Allianz
Process Mining Engine & Capture Data Model
Intrachain Server Adapter
Local Database & Intrachain API
Intrachain UI & ERP