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How Blockchain can Transform Your Procurement Company

One of the best possible solutions for the transformation of procurement organization has been Blockchain, which has catapulted into popularity. Let’s see our PPT which briefs you about how blockchain can transform your procurement company.

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How Blockchain can Transform Your Procurement Company

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  1. How Blockchain can Transform Your Procurement Company

  2. Procurement and supply chain is on the cusp of a disruption with AI, IoT and blockchain technology. • A digital transformation is ensuing with the promise of greater efficiency in business processes, operations, transparency, and security. • The biggest challenge for today’s business is to quickly recognize this opportunity & stay ahead of the game.

  3. Here are Some Things to Consider for The Next Generation of Procurement & Supply Chain Spend Analysis. Supplier Lifecycle Management. Strategic Sourcing. Contract Management. E-Commerce & Online Stores.

  4. Spend Analysis • Spend analysis is the process of identifying, gathering, cleansing, grouping, categorizing & analyzing your organizations spend data with a goal of decreasing procurement costs & improving efficiencies.   • Using real-time data and analytics will give you the insight you need you to save money and gain efficiency.

  5. Supplier Lifecycle Management Supplier Lifecycle is a unique supplier lifecycle management solution. Its capabilities are integrated with your procurement processes to help you drive spend to preferred suppliers and scale compliance for your entire supply base. Provide you with a single, accurate supplier record. Make it easy for suppliers to maintain their own information. Let you manage suppliers based on specific parameters.

  6. Strategic Sourcing • Sourcing is a fairly complex business process with stakeholders from cross-functional teams. • Supplier bids are collected using online sourcing events, but a large part of the sourcing evaluation and award process is manual in nature. • Using blockchain for through all steps of the process proposals, quotes, & bids or auction, can offer greater efficiency and transparency.

  7. Contract Management • Inefficient contracting can cause inadvertent losses to business, and some of the biggest challenges in contracting are to track compliance and obligations. • A blockchain platform and its smart contract framework coupled with IoT and AI can help facilitate greater efficiency in compliance and obligation management. • Blockchains are immutable and therefore it may be possible to eliminate the need for electronic signature in near future.

  8. E - Commerce & Online Stores • A blockchain-powered solution can provide a robust platform for suppliers and buyers to collaborate and manage an online store. The smart contracts can be enabled to validate all the rules required for business compliance, regulatory compliance, obligation management and more. • The supplier ratings and reviews from an e-Commerce site can be integrated with supplier evaluations and risk.

  9. Are You Looking for a Blockchain App Developer? Contact Us https://www.consagous.com/blockchain-services/ https://www.consagous.com/ info@consagous.com

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