blockchain: transformative power for business operations
TRANSCRIPT
THERE’S A TON OF VALUE
When companies exchange information with others in a value chain, complex, time-consuming processes are needed to reconcile that exchange.
Such processes are extremely inefficient and trap significant value.
Trapped in the processes companies use to do business together
BLOCKCHAIN IS A POWERFUL TOOL
For restructuring how companies work together to unlock that value
It’s a distributed, decentralized digital network that enables the exchange of value or the ability to confidently share data –including financial assets and contracts –in a secure environment.
With blockchain, traditional independent players can work together to streamline and integrate processes, all with controlled access to sensitive data, rather than relying on redundant, siloed systems.
RECONCILE
MESSAGING
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ILE
RECONCILE
RE
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NC
ILE
MESSAGING
ME
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AG
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ME
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AG
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BLOCKCHAIN
TRADITIONAL
DATABASES
Overcomesthe limitationsof traditionaldatabase models
BLOCKCHAIN
SHARED
DATABASES
Overcomesthe limitationsof traditionaldatabase models
TRUST
Blockchain builds trust into every transaction via attributes not available in standard database models. So all parties having controlled access to a single, shared copy.
THE RESULTS
Increased security, greater
cost efficiency, and optimized
reconciliation processes.
BLOCKCHAIN
Overcomesthe limitationsof traditionaldatabase models
Blockchain eliminates process and data siloes –
freeing Intelligent Automation to expand and
flourish across the entire value chain to transform
business operations and communication among
multiple companies.
Applied Intelligence has been mainly applied to
traditional, repetitive processes within the four walls of
a company. Process and data siloes within companies
have limited its use and impact outside the organization.
…and generate even greater efficiencies
BLOCKCHAIN CAN SUPERCHARGE
INTELLIGENT AUTOMATION
BLOCKCHAIN
Enables companies toreinvent processes
Blockchain will enable an overhaul of
the capabilities that support how
companies interact with and act on
shared data.
BLOCKCHAIN
Improves productivityand quality
By working from a mutualized data source via blockchain, companies can trust or eliminate one-off data updates, exceptions, and reconciliations.
BLOCKCHAIN
Provides increased transparency among parties
By connecting data across the value chain, blockchain will provide transparency and real-time sharing,thus boosting trust and minimizing risk.
Improved efficiency and working capital in finance and accounting
Greater transparency across the supply chain
Less vendor riskin sourcing and category management
THREE OPERATIONAL AREAS
ARE PRIME CANDIDATES FOR BLOCKCHAIN
Blockchain’s impact on specific business operations and the broader value chain
Could transform procurement in the oil and gas industry
BLOCKCHAINPROTOTYPE PLATFORM
AN ACCENTURE
It digitizes the process oil companies use to buy maintenance, services, and materials for their well sites – a process that’s still largely manual, time-consuming, and inefficient.
Widespread adoption of such a platform by the industry could help oil and gas players reduce their cost structure to remain competitive in an era of low oil prices.
CREATE
WORK
ORDER
PERMIT
PROCESS
ACCEPT
WORK
ORDER
REVIEW
WORK
COMPLETE
WORK
RECONCILE
PAPERWORKPAY
BLOCK #1001
Equipment IDService Details
BLOCK #1002
Equipment IDService Details
BLOCK #1003
Equipment IDService Details
BLOCK #1004
Equipment IDService Details
BLOCK #1005
Equipment IDService Details
BLOCK #1006
Equipment IDService Details
BLOCK #1007
Equipment IDService Details
MOBILE APP
helps thefield supervisor
WEB APP
helps the vendor and the oil field’s back office
SERVICES TIER
helps vendors integrate
BLOCKCHAIN
gives each equipmenta service history record
01 Potential use cases,impacts, and benefits
BEGIN PLANNING
FOR BLOCKCHAIN
NOWA formal framework can help you identify
02How to approachBLOCKCHAIN
BEGIN PLANNING
FOR BLOCKCHAIN
NOWA formal framework can help you identify
03What you wantto accomplish
BEGIN PLANNING
FOR BLOCKCHAIN
NOWA formal framework can help you identify
04Whom you shouldcollaborate with
BEGIN PLANNING
FOR BLOCKCHAIN
NOWA formal framework can help you identify
How can BLOCKCHAIN help
you unlock trapped value in
your key operational processes?
THANK YOUwww.accenture.com/BlockchainBusinessOperations
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