Publication
INFORMS 2020
Talk

Invoice Reconciliation using Blockchain

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Abstract

As supply chains become more complex, lot of effort is being spent on reconciling differences between invoices of different parties and trading partners. We propose a Blockchain enabled solution to bring end to end visibility into the entire lifecycle of an invoice from the perspective of different stakeholders and systems in a trusted manner. Solution captures the entire workflow of an Invoice Lifecycle in the form of smart contracts on blockchain and handles complex events (Rejections and PO Amendments). Our pilot project with a leading global 2-3 wheeler manufacturing company successfully helped the company and its vendors drive operational efficiencies and improve tax compliance posture.

Date

07 Sep 2020

Publication

INFORMS 2020

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