Unlock Business Value With Blockchain

by crypto journalist
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Unlock trapped value with blockchain

Transformative power for business operations

WHY BLOCKCHAIN IN BUSINESS OPERATIONS?

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.

WE SEE BLOCKCHAIN REMAKING BUSINESS OPERATIONS IN THREE PRIMARY WAYS:

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.

THREE KEY FUNCTIONS
PRIMED FOR CHANGE

  • 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´S IMPACT ON
BUSINESS OPERATIONS

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.

HOW TO GET STARTED

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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