Blockchain and Its Impact on Procurement

Blockchain is the next big technological move that stands to revolutionize the global B2C transactions paradigm over the course of the next decade. One of the key areas of its impact would be the procurement function and supply chain management. With the potential to transform the entire request-to-receipt chain with digital payments, automatic order placement and pre-agreed payment batches – blockchain can make the procurement cycle more efficient, secure and error-free.