Blockchain Based Procure to Pay Solution Development Services

Utilize a blockchain platform to streamline and expedite the procure-to-pay cycle, enhancing the management of goods, services, and resources.

REQUEST A FREE DEMO

Blockchain for Procure to Pay - Fastened Monitoring and Disbursement

Blockchain streamlines the procure-to-pay process, connecting clients with service/product providers, enhancing transparency and efficiency while ensuring secure and traceable transactions.

CONNECT ON WHATSAPP
CONNECT ON TELEGRAM

Challenges in the Traditional PTP Process

The procure-to-pay process is often complex, prone to fraud, and inefficient due to manual tasks and data duplication. It requires addressing challenges related to operations, transactions, and supply chain visibility. Streamlining the procure-to-pay process using blockchain technology can help overcome these inefficiencies, improve transparency, and enhance overall operational efficiency.

TALK TO OUR EXPERT

Idero's Approach - Blockchain Solution for Procure to Pay

Blockchain technology revolutionizes the procure-to-pay process, offering transparency, security, and efficiency. It automates information exchange, reduces fraud risks, and streamlines operations.
Our blockchain-based procure-to-pay solution covers the entire PTP process, from invoice processing to on-time payment. With our services, clients can experience value-added benefits such as improved data management, minimized value leakage, reduced operational costs, and enhanced efficiency.

Easy User Onboarding

Blockchain-powered KYC (Know Your Customer) or digital identity verification processes offer accelerated user onboarding and a centralized repository of verified user documents. This enables easy access for requesters and enhances the efficiency of the verification process.

Improved Validation and Authentication

Blockchain facilitates the rapid distribution of authentication rights throughout the procure-to-pay chain, enhancing security and preventing fraud in the process. This ensures that only authorized parties can access and participate in the PTP process, bolstering overall security measures.

Invoice Processing

The utilization of blockchain technology for exchanging invoices allows for shared access to a secure database, eliminating the need for manual invoice scanning. Authorized parties can efficiently review transactions without the requirement for extensive reconciliation processes. This streamlines the invoice management process and improves overall efficiency.

Accelerated Settlements

By providing complete transparency and real-time access to a shared database, blockchain technology eliminates the need for time-consuming reconciliations. This transformative capability has the potential to disrupt traditional business practices, such as the standard D+30 days settlement time. With blockchain, transactions can be settled more quickly and efficiently, reducing delays and improving cash flow for businesses.

Greater Trust among Stakeholders

Through the use of shared public IDs, fair ratings, and transaction history, blockchain technology brings trust and transparency to the procure-to-pay (PTP) process. Market players can be assigned ratings based on the quality of their products, reliability in delivering, and timely payment of invoices. This enables greater confidence and transparency among participants.

Reduced Money Laundering Risk

Blockchain's real-time access to tamper-proof payment history enhances transparency, aiding in the identification of suspicious transactions and reducing the risk of money laundering. The technology's immutable ledger ensures that payment data is securely tracked and analyzed, making it harder for illicit activities to go unnoticed. This increased transparency and accountability bolster the integrity and security of financial transactions.
CONNECT ON WHATSAPP
CONNECT ON TELEGRAM

Features of our Blockchain-based Supply Chain Solution

Our blockchain-based supply chain solution is packed with market-leading features to deliver high performance.

Multi-currency Wallet

By integrating a multi-currency wallet, the platform enables secure storage and transfer of various cryptocurrencies and tokens, ensuring the safety of transactions. This feature enhances the flexibility and convenience for users, as they can securely manage their digital assets within the platform.

 Smart Contract

The smart contract automates the creation and distribution of crypto tokens among platform users. These tokens serve as a means of payment throughout the procure-to-pay chain, facilitating seamless transactions

Powerful Matching Engine

The robust matching engine efficiently matches buy and sell orders in a timely manner. When you require tokens for executing transactions on the platform, you can trust that your order will be promptly fulfilled, minimizing any delays. This ensures smooth and efficient trading on the platform.

 Instant KYC and AML

Blockchain-powered KYC and AML verification processes accelerate user identity verification and streamline user onboarding for new participants joining the procure-to-pay chain. This ensures a faster and more efficient onboarding process while maintaining compliance with regulatory requirements.

Liquidity Options

Creating a secure API connection with external exchange platforms ensures high liquidity on the exchange. By integrating with these platforms, buy and sell orders can be fulfilled quickly and efficiently, minimizing any delays and providing a seamless trading experience for users.

Reporting Dashboard

The reporting dashboard provides transparent access to balance and transaction reports, enabling informed decision-making.

Multi-layer security

The platform ensures multi-layer security through two-factor authentication, encrypted user access, SSL implementation, and other market-leading solutions.

Funds Management

The funds management system simplifies the management of tokens by providing details such as total supply, circulating supply, and more.

User Management

The funds management system simplifies the management of tokens by providing details such as total supply, circulating supply, and more.