Insight

Enabling optimization of finance processes with business blockchains

How blockchain technology can streamline procure-to-pay, enable automatic and near real-time VAT settlement, and aid treasury within finance departments

Business blockchains can take time and costs out of almost any finance process, enabling near real-time operations. Here, we deep dive into three specific examples, covering streamlining of the procure-to-pay process, enabling automatic and near real-time VAT settlement, and aiding treasury within finance departments.

The recent Deloitte 2019 Global Blockchain Survey shows that more business see compelling use cases with blockchain-based applications. Business blockchains provide the possibility to reinvent how transactions are managed by delivering a high degree of accuracy and control with less risk than many alternatives. Business Blockchains (typically) perform recordkeeping using automated, low-cost mechanisms and enable asset transfer through secure, real-time methods. 

If you are a CFO, a controller or other forms of finance professional, this report should provide valuable insight into optimizing the finance organization. Feel free to contact us (see below), if the report raises any questions or concerns.

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