[ad_1]
WAYNE, Pa., Jan. 15, 2019 (GLOBE NEWSWIRE) – Elemica, the leading Digital Supply Network for process manufacturing industries, announces the completion of a successful blockchain pilot project technologies that will redefine B2B processes and support digital transformation.
In the pilot program, Elemica and crossinx, a network for financial business collaboration solution, as well as nodes on a public blockchain, connecting structured data with unstructured data, such as documents, to enable multi-tier payment. In the pilot, two large global chemical companies facilitate document and data transfer of invoices, purchase orders, delivery tenders and proof-of-delivery posts. Blockchain functionality can be made accessible to support many simplified payment processing.
"Arun Samuga, CTO of Elemica," is a period of learning and evolution before adoption. "We like what we see and are identifying areas of clear applicability of the technology."
Elemica's blockchain pilot project tested the ability to use blockchain to support many-to-many architecture. Blockchain technology can be used to break supply chain data out of silos and reveal this information
"Our goal is to use the blockchain to automate document exchange along the supply chain and make it more transparent. "Explains crossinx CEO and founder Marcus Laube.
The benefits of this capability with the blockchain could lead to:
- Feasibility of employing a trustless, intermediary-free, decentralized standard to exchange information between different stakeholders
- Simplify existing business processes and make them smarter
- Self-ordering based on IoT information
- Automated PO confirmations
- Self-invoice creation based on Pickup or PoD
- Auto-matching of invoices
- Auto-payments
- Extend to other complementary decentralized networks and from IoT devices
The success of the blockchain pilot shows the new technologies bringing value to supply chains and businesses through the sharing of information, workflows and economies.
About crossinx
crossinx brings the accounting of private and public sectors to the German speaking market. A team of 100 multinational employees help companies digitize their document-based finance and business processes. With over 150,000 connected companies, an invoice volume of 25 billion euros and an expansion rate of 100%, the company is a leading provider for financial business collaboration. For more information, visit www.crossinx.com.
About Elemica
Elemica is the leading Digital Supply Network for the process manufacturing industries. Elemica accelerates digital transformation by connecting, automating, anticipating and then transforming inter-business supply chain processes for the products they buy, sell, and move. Launched in 2000, customers process over $ 500B in commerce annually on the network. For more information, visit www.elemica.com.
Contact:
Becky Boyd
MediaFirst
(770) 642-2080 x 214
[email protected]
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/004d15c4-3910-4277-8b49-723bc21f11d4
