EY announced that it is working together with SAP to further advance deployment of blockchain across industries worldwide. Under their existing alliance relationship, the organizations are collaborating to integrate blockchain applications and services with the SAP® Leonardo digital innovation system to help accelerate enterprises’ implementation of blockchain across their business operations.
EY Ops Chain, which is designed for customers to use to simplify supply chain management, is one of the first blockchain-based solutions that will be integrated on SAP® Leonardo. Using EY Ops Chain, companies will be able to tightly integrate digital contracts, shared inventory and logistics information, pricing, invoicing and payments. This will improve forecast accuracy and fulfillment performance while reducing working capital requirements.
SAP® Leonardo helps simplify innovating with new technologies and incorporates them into a customer’s business with full scalability. The digital innovation system encompasses services and technologies such as the Internet of Things (IoT), machine learning and blockchain. SAP® Leonardo can transform “systems of record” — back-end systems, like enterprise resource systems (ERP) or customer relationship management (CRM), focused on managing workflow, business processes and records — into “systems of intelligence” that automatically detect, interpret and act upon large amounts of data.
According to Charalambos Constantinou, Leader of Advisory Services in Cyprus, EY Ops Chain is one of the first blockchain-based solutions designed for SAP® Leonardo. The solution will support end-to-end supply chain processing on enterprises’ existing infrastructure.
To learn more about the EY and SAP alliance, visit the EY microsite.