Back-office transactions, State Street.
Microsoft has struggled in Japan, especially in the back office, where clunky computers process transactions.
Much of this is the seemingly boring back office of the business, but these quotidian transactions represent a huge slice of the economy -- and the potential for sustained improvements in productivity.
GetMedias revenues derive from transaction fees and provide all the back office services and fulfillment.
I think the single most important thing to do now is clean up health care's back office, by both reducing and completely automating the payment transactions that flow from visiting the doctor, hospital or pharmacy.
We used to need firms -- vertical, centralized, collective entities -- because of the transaction costs of trying to get business, pay benefits, provide back office support, supplies and workspaces themselves.
Several years ago, a big New York bank concerned about labor costs in its back office implemented a department-by-department system to measure productivity, defined as transactions per employee.
Similar to how bitcoin's blockchain enables financial transactions without middlemen, Cobalt's distributed ledger technology, called BlueSky, is designed to enable foreign exchange transactions while reducing the need -- and cost -- of middle and back office support.
In this transaction the combined company could achieve synergies from research and development and back office consolidation.
How many of those big transactions in the City of London go through a server in the "back office" that uses GPS time.
The back office is left trailing.
