That happened like three years ago and BR was talking about how much money Predix was making, but it was all IBS money shuffled around so it made zero impact on our revenue
It actually hurt our revenue since we paid for a lot of IBS and revenue reporting for money that was fake
I do hope there's an investigation regarding all accounting practices at GE Digital and GE as a whole. Lot of funny money floating around and totally bogus accounting practices, which would raise eyebrows even for a non-accountant. Integrity has gone down the drain.
Well, it was Finance's bright idea to charge GE Employees for a GE Product at a x% discount. While it is not completely absurd, their mistake was to charge accounts that were inactive or reported no usage.
Working for the Predix team for two years GAVE me IBS. I basically become full of sh!t.
Yup. They still do it. Funny money! Aka Enron accounting
IBS means 'internal billing system'. Inter-company charges that don't effect total companies bottom line.
IBS?? What is that?