Audience
Companies interested in a blockchain platform that helps run procurement activities using tokens and Smart Contracts on a public blockchain network
About EY OpsChain Contract Manager
Procurement is the primary function through which organizations interact with external business partners. While supplier and buyer networks alike have become increasingly complex, the technology used to manage these networks is based on legacy applications and processes. Procurement teams are very good at negotiating agreements but struggle to effectively execute them. Historically, legal, procurement, supply chain, and finance have all operated in a loosely coupled and internally optimized environment inside the enterprise, and traditional ERP systems struggle to handle business rules and volume discounts in procurement across multiple divisions, subsidiaries, and partners. The complexity of today’s contract execution requirements creates a material amount of contract leakage for large organizations, resulting in a gap between negotiated and realized savings.
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