Management Tools to validate the all-important question "Do you need BLOCKCHAIN"? 🔮 ⛓
Blockchain is proclaimed to be a technology that can solve challenges across multiple domains, but it is no silver bullet and definitely not a one-size fit all solution. To identify if a #Blockchain solution can add value to your business, it is imperative that you do some groundwork, and here are some tools that can help.
• Have you identified intermediaries within your existing processes that are limiting your monetary and/or operational efficiencies? i.e., administrative or transactional roadblocks.
🛠️ Tools: Critical Path Efficiency Analysis, Value Stream Mapping
• Is your current business model immune to the transparency that comes with sharing data across the value chain?
🛠️ Tools: Business Model Framework, Value Network Analysis
• Understand if there are economic incentives to capturing value opportunities, in other words, does it save you something.
🛠️ Tool: Cost Benefit Analysis
• What is your company's risk profile? If your company's "New Tech" risk appetite is low there could be pushback from elements internally to adopt Blockchain.
🛠️ Tools: Identify your risk & security appetite using Risk Profile Matrix and Information Security Framework.
• Are there open opportunities to join forces with business partners to capture and share value? The more contributing parties on the network, the more value is created.
🛠️ Tool: Network Value-Chain Mapping
• Identify if your business is ready for an architecture that is open and scalable. This applies to both permissioned and permissionless Blockchain solutions.
🛠️ Tools: Engagement Models, Technology Maturity Models & Frameworks
Using the right tools will help you decide if you really need Blockchain. 🔮 ⛓
At zynergyx Technologies, our goal is to educate & advice SAP Enterprises explore Blockchain and help identify specific competitive-advantages that Blockchain can deliver for them.
For more on SAP & Blockchain, visit the SAP Blockchain channel (bc_sap) on: https://discord.gg/Dv6aZwa
#futurearchitecture #sap #blockchaintechnology #cimaglobal #cpaaustralia #managementconsulting
