The future belongs to organizations that embrace blockchain.
Blockchain technology fundamentally changes how data is managed, so companies can move from a scenario where every organization maintains its own copy of a data set to one where all parties have controlled access to a shared copy.
With blockchain, traditional independent players can work together to streamline and integrate processes, all with controlled, secure access to sensitive data.
Business leaders are still trying to figure out how to put the technology to work. Yet most agree: Blockchain can unlock the vast value trapped in their business operations.LEARN MORE
Blockchain will enable an overhaul of the capabilities that support how companies interact with and act on shared data.
IMPROVING PRODUCTIVITY AND QUALITY
By working from a mutualized data source via blockchain, companies can trust the data-thus, eliminating one-off data updates, exceptions and reconciliations.
INCREASING TRANSPARENCY AMONG PARTIES
By connecting data across the value chain, blockchain can provide transparency and real-time sharing, thus boosting trust and minimizing risk.
Finance and accounting: improved efficiency
Blockchain could substantially reduce the time and steps required to resolve an invoice dispute, and, potentially, prevent discrepancies from happening at all.
Supply chain: greater transparency
Greater transparency blockchain business processes could dramatically improve key supply chain segments including “track and trace,” warranty and recalls.
Sourcing and category management: less vendor risk
Blockchain could be the mutualized data source for vendor profiles, thus improving the quality of data on vendors and the speed with which buyers could access it.
Blockchain offers the chance to truly rewrite the way companies operate by delivering greater data transparency, removing redundant processes, and revamping inefficient capabilities. Beyond simply automating old processes, blockchain eliminates steps and activities amongst businesses and facilitates the restructuring of traditional value chains.
Combining blockchain with cutting-edge technologies such as robotic process automation, analytics, machine learning, cognitive capabilities and applied intelligence can generate even greater efficiencies, automating tasks and helping human workers with complex decision making and creative problem solving.
Applied intelligence, working with blockchain, creates unprecedented opportunities to reduce the effort and complexity of doing business together.
The result? Greater value for everyone.
Blockchain is very much real and the potential benefits are substantial. Business leaders must start planning and mobilizing now to determine how to best use this transformative technology to unleash trapped value in key operational processes. Blockchain, should be part of every company’s agenda, regardless of its industry or where it sits in the value chain.
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