As most of us know, SAP has recently added block chain into its portfolio of enterprise offerings to help businesses “Run simple”.
Let me write down my thoughts on how block chain can strengthen existing business values offered (and also creating new business values) by SAP to its customers.
Decentralized business transactions that is safe and quick will help companies accelerate all business processes be it in manufacturing, supply chain, health care, etc.
For businesses, block chain solves lot of hurdles in today’s traditional business transactions where the control and decision making lies in a centralized server which makes the transactions and processes to depend too much for every minor operation.
In the world of IoT (which is another buzzword of this era), block chain can potentially relieve the customers to worry about the security and tampering of data.
When the control lies in a decentralized ecosystem of nodes, each of them takes their own responsibilities in maintaining the whole history of transactions, safeguarding them from potential misuse and changes.
SAP’s exclusive cloud offerings (apart from core ERP) such as successfactors, ariba, concur,etc are already ready for seamless integration with the core ERP system to share data. When block chain sneaks into the business processes and transactions, the whole user experience, security challenges and quality of service can be dramatically improved.
Block chain as a service offering by SAP aims to create intelligent and self-aware applications and solutions on cloud. The Block chain offering is available as part of the Leonardo portfolio which also hosts a wide range of services including IoT, analytics, Big Data, etc enhancing the system of intelligence for any business to quickly adopt to the cutting edge technologies under one roof.
A trusted digital ledger using block chain which is a digital wallet to store credentials. This would disrupt the way the credentials are exchanged in academic and professional world (like certifications).
SAP, with its strong customer base of over 355000+ and global presence, can leverage block chain to disrupt the world of business transactions enabling customers and partners to adopt different business models and simplify the complexity of existing processes – ensuring the vision of RUN SIMPLE.
Thanks for your time 🙂