The American software and information technology SAP Ariba intends to leverage blockchain across its procurement and supply chains.
The company, which was one of the first B2B internet companies to go public, will be joining forces with Everledger.
“One of the things that blockchain does is facilitate greater visibility and trust,” Joe Fox, senior vice president of business development and strategy at SAP Ariba said.
“In embedding it across our applications and network, we can enable supply chains that are smarter, faster and more transparent from sourcing all the way through settlement.”
Tracking and tracing
Dana Gardner, an analyst at Interarbor Solutions explains that one of the biggest issues that face is “tracking and tracing goods, during and after shipment.”
“All too often, a seller will ship something to a warehouse where it is swapped for a knock off without the buyer knowing. The distributed ledger capability of blockchain provides buyers and sellers with increased visibility and control from shipment to receipt, which ultimately reduces the risk of fraud.”
By joining with Everledger, SAP Ariba hopes that information such as history, transport, events and ownership can be securely authenticated across multiple stakeholders and jurisdictions.
Everledger CEO and founder Leanne Kemp says that they have “built a global platform of provenance by connecting records of authenticity to a physical object and its certification as it moves throughout the supply chain.”
“We know the impact this can have. Integrating our technology with SAP Ariba’s business network can not only lead to a reduction of risk and fraud for stakeholders, but additionally helps to re-shape a new era of global trade focused on the pillars of transparency, sustainability and ethics.”
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