Blockchain Technology Transforms Finance and Accounting Operations
Global professional services firm Genpact, which focuses on delivering digital transformation, is investigating the possibility of companies using a digital finance and accounting solution that leverages blockchain technology to manage order-to-cash operations. In this way, Genpact aims to transform operations, customer satisfaction, and cash flow management by eliminating billing errors and accelerating payment time.
The solution is an effort to reduce the number of invoice disputes which occur due to inaccurate information and missing or late invoices. This will reduce customer frustration and avoid the tying up of cash in accounts receivable, delays payments, ultimately lowering costs.