Rapid Application Platform for Financial Allocation Models
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Solution Overview
Problem
The complexity of financial allocation models in larger enterprises makes it difficult to design allocation rules for cost allocations between groups and items, hindering the efficient generation of budgeting and financial modeling applications.
Innovation Solution
A platform for rapid application development that generates data processing applications by uploading example data, applying templates, object models, work streams, and user modifications, allowing for the visualization of financial allocation models and automated cost allocation rules.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Measurement precision
If the number of tracked activities and elements in financial allocation models increases, then the accuracy and comprehensiveness of budgeting improves, but the complexity of designing allocation rules increases
Solution Approach 1:
The patent segments the financial allocation model into distinct entities (cost objects, cost drivers, allocation rules) and relationships. This allows complex allocation scenarios to be broken down into manageable components that can be independently configured and combined, reducing the overall complexity while maintaining comprehensive tracking capability.
Solution Approach 2:
The patent introduces a computational engine as an intermediary that automatically processes allocation rules and calculates cost allocations. This mediator handles the complex calculations and rule applications, freeing users from manually designing and managing complex allocation logic while maintaining high measurement precision.
2Adaptability or versatility
If sophisticated computer programs are used to generate budgets, then the capability to handle complex financial allocation models improves, but the difficulty of developing and maintaining these applications increases
Solution Approach 1:
The patent creates a universal platform that can handle multiple types of financial allocation models, budgeting scenarios, and cost accounting techniques through a single integrated system. This multi-functional approach eliminates the need to develop separate applications for different financial modeling needs, reducing development difficulty while maintaining high adaptability.
Solution Approach 2:
The patent employs template-based application generation where users can copy and customize existing financial allocation model templates. This allows rapid deployment of sophisticated models without requiring development from scratch, significantly reducing the difficulty of application manufacturing while maintaining the capability to handle complex scenarios.
3Quantity of substance
If the size and complexity of financial allocation models increases, then the comprehensiveness of cost tracking improves, but the difficulty of designing allocation rules increases
Solution Approach 1:
The patent implements a dynamic allocation rule engine that allows users to configure and modify allocation rules interactively. The system dynamically adjusts cost allocations based on changing conditions and automatically propagates changes throughout the model, making it easier to design and operate comprehensive cost tracking models without manual intervention in complex calculations.
Data Source
AI summary
Various embodiments are directed towards a platform for rapid development of applications. A data processing application may be generated by applying templates, work streams, change entries, and user modifications to generate data processing applications. In at least one of the various embodiments, the applications may be generated based project initial instructions and by receiving and processing example data in combination with templates, change entries, and work streams. Further, in at least one of the various embodiments, modifications made to the generated applications may be preserved as change entries associated with a work stream. In at least one of the various embodiments, separate applications may be generated based on the work streams and/or change streams of other applications. In at least one of the various embodiments, if a generated application may be modified a new revision number may be associated with the modified version of the application.