Blockchain has the potential to disrupt the need for middlemen to complete financial transactions. According to the World Economic Forum 10% of the global GDP will be conducted over blockchain by 2025. What does this all mean for Shared Services? What are the implications and benefits for F&A processes?
SSON has designed this 1-Day online complimentary event to teach you the basics, assess how blockchain is an opportunity for shared services, and map your first steps towards implementation.
0930 - 1000 US ET
THE BLOCKCHAIN DICHOTOMY: GOOD FOR HUMANITY, BUT IS IT A FIT FOR YOUR BUSINESS PROBLEM?
When ‘World’ is actually in your organisation’s title you bring a unique perspective when examining technology tools. With its objective to ‘influence and educate client countries’ the World Bank Group takes on a responsibility to apply innovative knowledge and solutions. In the big picture of a social mission to help build up developing countries many use cases can be identified for blockchain. But how does it correlate when it’s brought in a Shared Services or individual function context?
In this session we’ll explore:
1030 - 1100 US ET
PANEL: GETTING STARTED WITH BLOCKCHAIN: DESIGNING AND IMPLEMENTING A PROOF OF CONCEPT
Some Shared Services Organizations are actively partnering with their enterprise Innovation Labs to develop use cases for blockchain, leveraging their subject matter expertise and processing capability to promote learning and to build up a knowledge base around blockchain. In this session, you will learn:
1130 - 1200 US ET
BLOCKCHAIN FOR PAYMENT CLEARANCE, PAYMENT CONTRACT AND PROCURE TO PAY
Most payment processes consist either of manual paper processes or file/e-documents exchanges involving multiple parties. The payment cycle takes days to complete, and any exceptions or errors will further delay the process. The distributed ledger nature of blockchain establishes the pre-requisite of connecting all the parties in a financial transaction in real time and simultaneously, opening up the possibility of processing the payment across all sides at the same time while supporting an audit trail and reducing the chances of fraud or security breaches.
1300 - 1330 US ET
HOW IS BLOCKCHAIN RELEVANT FOR SHARED SERVICES TODAY?
Given shared services’ customer-centric model – connecting business groups and customers in conjunction with other stakeholders – there is no group better placed to understand customers’ objectives, pain points and opportunities. Shared Services delivery centres are uniquely positioned to identify, propose and drive opportunities that deliver end to end performance across the business. Referencing Accounts Payable as an ideal use case to illustrate the need to check, verify and pass status information between parties. Blockchain fills the space where trust is missing and alleviates and the back-and-forth between systems. In the session we’ll explore:
1400 - 1430 US ET
GETTING STARTING: FINDING THE RIGHT USE CASE
Many organizations getting started with blockchain are faced with the challenge of finding the right use case and delivering on the required business outcomes. Procurement has emerged as a good fit use case but there are many more, such as supply chain, auditing/compliance, Finance and HR. Inefficiencies in the public sector provide particularly lucrative opportunities as building a solution involving a blockchain data layer on top of legacy systems can create an entirely new user experience. In the session we’ll explore:
1430 – 1435 US ET
CHAIRWOMAN’S CONFERENCE CLOSING REMARKS
Join in as our Chairwoman shares her key takeaways and highlights from the summit.