|RTA - Real Time Audit|
Real Time Audit (RTA) is the management of critical information on any processes and events ensuring that it is recorded, saved, transmitted, analysed and accessible in real time from any global location. RTA is a generic capability with a direct relevance and potential impact on the effectiveness of most vertical and horizontal process and project applications, day-to-day business management, corporate and government revenue administration.
This web site provides information on the development and application of RTA making use of the leading edge World Wide Web, Internet and other communications technologies. Current developments involve applications that run on PCs, laptops, tablets and mobile devices.
The motivations for this initiative
The Economic Performance Committee of the GBF estimate that losses arising from lack of real time data processing information management systems cost industry something like €40-50 billion each year in the United Kingdom alone. This is related to a poor correspondence of macroeconomic policies to economic unit capabilities and therefore lack of economic growth. This has significant implications on profitability and on the levels of government revenue. In terms of public service RTA has an important contribution to the improvement of performance.
International trade & economic development aid
In the case of international trade, RTA can assist companies enhance their international performance through a more effective control over the main sources of growth, innovation, technology, learning, refinement in techniques and the accumulation of tacit knowledge in the workfoce. This can help raise performance and lower unit export prices so as to gain market penetration without the ned to resort to devaluation through quantitative easing and low interest rate targets.
In the case of worldwide international development aid, something like €50 billion is lost each year because of a failure to apply RTA techniques in project information management.
RTA activities and this web site are sponsored by the George Boole Foundation (GBF) and managed by members of the Real Time Audit Task Force (RTATF) organised by the GBF.
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