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Blockchain Based Procure to Pay Solution Development Services

Accelerate the procure to pay cycle
on a Blockchain platform for enhanced
management of goods, services and resources.

Blockchain for Procure to Pay - Fastened Monitoring and Disbursement

Procure-to-Pay (PTP) is a multi-step process that connects a client with one or more service/product providers.
Furthermore, it involves identification and authentication of stakeholders, budgeting, invoicing, and payment settlement.

Challenges in the Traditional PTP Process

Procure-to-pay is a complex business processes, spanning multiple systems and operations. It is vulnerable to fraud, money laundering, and process inefficiencies. Being a critical business process involving huge cash flows, it has to address various challenges in terms of operational processes, transactions, and visibility across the supply chain. The current procure-to-pay process is beset with inefficiencies, such as manual and time-consuming functions, duplicate data, and more issues in reconciliation.

Given below are the common PTP challenges that impair the ability
to effectively execute and manage the key activities.

  • Reduced Accuracy A manual, paper-based data entry process escalates the risk of errors
  • Lack of Visibility Delayed exchange and accessibility of information across the supply chain
  • Forged Invoicing Inexistence of centralized history of transactions
  • Delayed Transactions Manual routing and sign-off processes decelerate the payments
  • High Costs per Invoice Resolution of human errors increases the cost per invoice

Antier’s Approach - Blockchain Solution for Procure to Pay

Blockchain technology can disrupt the PTP process and provide operational benefits like better transparency, security, and efficiency in transactions. Furthermore, blockchain in procurement can decrease the workload of streamlining by automating the exchange of information.

We harness blockchain technology for procure to pay, to create a solution that covers the entire spectrum of PTP processes – from scanning and processing invoices, data management, funds management to ensuring on-time payment while minimizing value leakage and reducing cost of operations. Our blockchain procurement solution development services deliver business value to our clients by helping them achieve the following:

Features of our Blockchain-based Supply Chain Solution

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

Procure-to-Pay over Blockchain

Multi-currency Wallet


Multi-currency Wallet

The integration of a multi-currency wallet enables secure storage and transfer of a spectrum of cryptocurrencies and tokens, thereby driving secure transactions on the platform.

Procure-to-Pay over Blockchain

Smart Contract


Smart Contract

The smart contract manages the creation and distribution of crypto tokens among platform users. These tokens are used to make any payments across the procure-to-pay chain.

Procure-to-Pay over Blockchain

Powerful Matching Engine


Powerful Matching Engine

The robust matching engine matches buy and sell orders quickly. When you need to buy a token to execute transactions on the platform, rest assured that your order is fulfilled with minimum latency.

Procure-to-Pay over Blockchain

Instant KYC and AML


Instant KYC and AML

Blockchain-driven KYC and AML verification processes expedite user identity verification and simplify user onboarding every time a new user is added to the procurement-to-pay chain.

Procure-to-Pay over Blockchain

Liquidity Options


Liquidity Options

High liquidity on the exchange is achieved by creating a secure API connection with the external exchange platforms. This helps fulfill buy and sell orders with minimum latency.

Procure-to-Pay over Blockchain

Reporting Dashboard


Reporting Dashboard

The intuitive reporting dashboard provides access to balance reports and transaction reports, thereby promoting complete transparency and helping in well-informed decision-making.

Procure-to-Pay over Blockchain

Multi-layer security


Multi-layer security

The platform is reinforced with multi-layer security achieved by leveraging market-leading solutions like two-factor authentication, encrypted user access, SSL implementation, and more.

Procure-to-Pay over Blockchain

Funds Management


Funds Management

The funds management system simplifies the management of funds and provides details, including the total supply of tokens, number of tokens in circulation, and more.

Procure-to-Pay over Blockchain

User Management


User Management

The robust user management system makes it easier to manage stakeholders, block or suspend users, and more. In addition, it helps manage user logins, privileges, permissions, and roles.

Our Software Modules Include

1

Admin Panel

  • Shows data-rich dashboard, buy-sell transactions, send-receive transactions
  • Provides a real-time view of the exchange and transactions
  • Exhibits user details
  • Provides real-time reports about users, transactions, and revenue
  • Enables the management of user profiles, funds transferred, and tokens created and distributed

2

Exchange

  • Crypto-to-fiat trading
  • Order book to view buy-sell prices of crypto assets
  • View open orders
  • 24-hour order history
  • Monitor real-time trading prices
  • Transaction history

3

Wallet

  • Provides real-time view of transactions
  • Enables management of different crypto wallets
  • Displays balance of all cryptocurrencies, tokens, and fiat currencies

4

Smart contract

  • Enables the creation of ERC20 tokens for payments
  • Manages the supply of tokens
  • Facilitates automatic transfer of tokens to users’ wallets
  • Manages the burning of tokens

If you want to build a B2P blockchain solution for procure to pay with custom modules as per your business needs,
we can navigate your development journey.

Security Features of our Blockchain Procurement Solution

We fortify our blockchain-based supply chain solution with multi-layer security to ensure secure processes across the PTP chain.

Procure-to-Pay over Blockchain

HTTP Authentication

We leverage secure HTTP Authentication tokens, such as OAuth for user authentication.
Procure-to-Pay over Blockchain

Data Encryption

The encryption of data transmitted over the network safeguards user credentials and other confidential information.
Procure-to-Pay over Blockchain

Jail Login

It helps prevent multiple failed login attempts for a specific time.
Procure-to-Pay over Blockchain

Anti-Denial of Service (DoS)

It protects our blockchain procurement solution from large requests to the server.
Procure-to-Pay over Blockchain

Cross-Site Request Forgery (CSRF) Protection

It safeguards our solution against state-changing requests and other unwanted user actions.
Procure-to-Pay over Blockchain

Server-Side Request Forgery (SSRF) Protection

Protects internal systems from attacks sent from pregnable web applications.
Procure-to-Pay over Blockchain

HTTP Parameter Pollution Protection

Protects against web attacks that send an HTTP request to access hidden information.
Procure-to-Pay over Blockchain

Escrow System

A smart-contract-driven escrow system enables secure transactions between parties.

Our Process

We follow a four-step innovative process to steer your development journey.

Contextualize

We work hands-on with our clients to comprehend their needs and contextualize blockchain for their business. We do so while exploring the benefits and challenges and co-innovating around the use case.

Orchestrate

We help our clients prepare for the market disruption as a result of successful PTP solution launch. Our strategy and advisory services help clients gauge organizational readiness, anticipate business impact, and devise a go-to-market plan.

Build

We design and architect a PTP platform, leveraging our rich domain knowledge and breadth of expertise. We work across the organization to engage stakeholders to build solutions ready for deployment..

Implement

We implement a PTP solution and authorize updates and changes. We constantly deliver our services and support even after product deployment to ensure that our solutions have a tangible impact on our clients’ businesses.

Why Choose us

By partnering with Antier Solutions, you can rely on a team of finance and technical experts who can help you quickly launch your B2P blockchain solution for procure to pay.

Learn how procurement businesses are using Blockchain for fastening cash flows

FAQs

1How can blockchain-based PTP benefit my business?
A PTP process backed by blockchain technology will enable you to achieve transparent, secure, and efficient transactions. Furthermore, the technology provides efficiency in crucial areas such as anti-money laundering (AML and brings trust to the process).
2Does blockchain-based PTP support only cryptocurrencies?
No, it can work for fiat currencies, too. However, the use of cryptocurrencies as a medium of exchange enables accelerated transactions, real-time logging, and audit capabilities, thereby facilitating borderless transfer of ownership.
3Can you build a custom PTP solution for me?
Yes, apart from offering a white label solution, we specialize in delivering mission-driven services to build a custom PTP solution from the ground up.
4How soon can I get my blockchain-based PTP solution?
Our white label solution accelerates deployment and can help you launch your PTP solution in just a few weeks. However, if you want to build a custom solution, it would require relatively more time – depending on your business needs.

A Glance of Our Blogs

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Order Book V Swap Decentralized Exchanges

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Crypto Exchange development

Regulatory Dependencies to Consider During Crypto Exchange Development

Binance, one of the largest cryptocurrency exchanges came under fire from regulators recently. Subsequently, many partners and financial institutions blocked some withdrawals or deposits from the […]

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