A common question that I get from my clients “How can Blockchain help enterprises running on SAP?”
Given the very many scenarios where an emerging technology like Blockchain can be used to power existing enterprise solutions at private companies, here are some quick pointers on the benefits that private enterprises can look to harness with the power of Blockchain.
- Blockchain can facilitate de-risking by reducing restrictive compliance prices while increasing the transparency of transactions. E.g., The future of SAP Inter-company billing could take place on the blockchain 🔗, including everything from invoicing to payment receipts 🧾️.
- Blockchain helps build credence with customers since Blockchain helps foster the development of a decentralized protected database for recording, processing, and transferring value-element within the network. E.g. see "SAP Master Data 💼 verified by Blockchain 🔗 ✅ (SAP + BC Series)" - shorturl.at/eGQX2
- Enhances Supply Chain Management, with verified processes across the supply value network and processes. E.g. SAP generated SCM artifact validations could be triggered on the Blockchain including supplier selections etc.
- Blockchain encompasses an integral Turing-complete programing language that enables involved parties to write down smart contracts and use decentralized applications to perform conditional checks and execute processes automatically. E.g., SAP Cash & Bank Management, including interfaces/integration to #blackline and other similar tools could all have touch points with on-chain transactions taking place on the Blockchain.
- Blockchain discerns and forestalls fraud as the technology verifies data and enhances traceability, making it possible to notice fraud or bad-actor inferences early, and reject changes. E.g. SAP Credit management module feeds off data verified on the Blockchain of connected partners operating on the Blockchain.
These are just some of the ways in which private enterprises could harness the power of blockchain. More scenarios to follow and if you are looking to learn, explore, or build blockchain-powered prototype solutions, reach out.
For related SAP Blockchain scenarios 💡and actual prototypes being built on data validation, visit the free dedicated SAP Blockchain channel on: https://discord.gg/Dv6aZwa
#futurearchitecture #smartcontracts #emergingtechnology #blockchaintechnology #sap #sapbtp
