Currently a Marketing summer intern at ValueFirst Digital Media Pvt. Ltd ...

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Currently a Marketing summer intern at ValueFirst Digital Media Pvt. Ltd

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Usage of Blockchain technology in business across the world

By lavinaagarwal |Email | May 10, 2018 | 8805 Views

Blockchain find its way into everyday language recently due to the media coverage of the recent crypto currency windfall. Those who were entrepreneurial enough to bargain Bitcoin only a couple years ago have got rich people quick, and this has rapidly established a market for distributed ledger currency. So, it s no surprise that there s also been a lot of speculation about how the same distributed ledger technology could revolutionize B2B commercial message transactions with smartness contract

Digitizing the term of a buyer vender relationship and placing those terms on a distributed ledger would make it possible to automate everything from order fulfillment to account settlement, regardless of contract bridge complexity. In shortstop, smarting contracts could completely reshape traditional contracting and the order to cash OTC cognitive operation, while overcoming all the inefficiency that most B2B brass currently looks. So far, though, benefits have been minimal and the technology uptake has been slow.

Nonetheless, Holocene epoch experience suggests that we are on the cusp of a smart contract revolution. Order to cash that is  A prime candidate for change OTC is critically important in every endeavor the place where the commercial hits the gross highway. It s where sales and marketing efforts not only turn into fulfilled orders but, eventually, money in the bank.

What s more, it s often at the heart of delivering superior customer satisfaction. Yet most large corporations still face significant challenges in this cross functional procedure, where inefficiency or inaccuracies can tie up as much as 7 percent to 12 percent of total revenue. No synchronicity between price and intersection maestro data, coupled with incomplete calculations of off invoice price reduction, lead to pricing discrepancy and customer invoice disputes. That common scenario requires far too much manual of arms campaign to manage and resolve.

Source: HOB