Icertis Addresses Supply Chain Sustainability Using Blockchain2019-03-25T15:17:25+00:00

With the Icertis Blockchain Framework, companies can seamlessly deploy innovative contract solutions based on permissioned, standards-based blockchains.

Our customers are leveraging third-generation distributed ledger technology to address real-world business challenges, such as ensuring sustainability across global supply chains, maintaining compliance with complex supplier diversity programs, or even making true outcome-based pricing a reality.

Capabilities of the ICM Blockchain Framework

By combining the power of the ICM platform with our blockchain framework, customers can:

  • Deploy a permissioned, standards-based blockchain within the core ICM platform on Microsoft Azure
  • Record specific transactions based on rules and metadata including clauses, associations, obligations, and entitlements
  • Add oracles, notaries, and other trusted data sources (e.g. Dun & Bradstreet, Thomson Reuters, exchange rates, etc.)
  • Define smart clauses for specific contract types that will trigger actions based on changes to the state of a contract or obligation
  • Exchange information with existing, standards-based blockchains
  • Monitor and manage the solution with the advanced analytics of the ICM platform

Benefits of the Icertis Blockchain Framework

  • Open, fast provisioning based on our Icertis blockchain toolkit
  • Lower power consumption with third-generation blockchain technology
  • Immutable, private contracts encourage adoption across complex networks of customers, partners, and other stakeholders
  • Improved traceability and transparency between partners, leading to reduced risk and better compliance
  • Self-executing smart contracts reduce the risk of missed obligations & overpayments, without the extra overhead of manual review

DON’T GET
LEFT BEHIND

74% of companies see a “compelling business case” for the use of blockchain technology

-Deloitte 2018 Global Blockchain Survey of 1000 Companies

How Icertis Can Help

Seamless Prototyping:

  • Quickly deploy an environment to experiment with contracts & blockchain
  • Easily test experimental configurations & scenarios
  • Build customer user interfaces for controlling visibility & access

Production Deployments

  • When you’re ready, Icertis can quickly provision a production-quality permissioned blockchain, that includes smart contracts and automatic execution.
  • Icertis will act as the neutral third party to create real-world solutions that support supply chain management, regulatory compliance, and social responsibility programs.

Icertis is leveraging blockchain for Mercedes-Benz
to address global supply chain sustainability

Learn more about blockchain from our experts

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Smart Contracts are Transforming the Way We Do Business – A Newsletter Featuring Gartner Research

In the midst of a digital transformation, and at a time when data breaches and security concerns are on the rise, blockchain technologies have the potential to drastically reduce the cost of transactions and enable faster, more secure business.

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Case study: Daimler’s Blockchain Solution

“Our responsibility does not end at the gates of our plants. Instead, we work with our direct suppliers to uphold our Sustainability Standards and introduce them into their own supply chains,” said X, Y role at Daimler. “The Next-generation Procurement System (NPS), built on the Icertis Contract Management platform, has been a significant step forward for Daimler in the journey to digitize our commercial foundation. Now, using blockchain and AI technology, we will ensure our standards are complied with, not only with our direct suppliers, but also with other suppliers down the chain.”

See more about how Daimler is using Icertis to
digitally transform sourcing.

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