Blockchain
Based Procure to Pay Solution Development Services

Accelerate the procure to pay cycle on a Blockchain platform for enhanced management of goods, services and resources.

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About Code Elevator

Blockchain for Procure to Pay - Fastened Monitoring and Disbursement

Procure-to-Pay (PTP) is a multi-step process that connects a client with one or more service/product providers. Furthermore, it involves identification and authentication of stakeholders, budgeting, invoicing, and payment settlement.

Our Clients

Challenges in the Traditional PTP Process

Procure-to-pay is a complex business processes, spanning multiple systems and operations. It is vulnerable to fraud, money laundering, and process inefficiencies. Being a critical business process involving huge cash flows, it has to address various challenges in terms of operational processes, transactions, and visibility across the supply chain. The current procure-to-pay process is beset with inefficiencies, such as manual and time-consuming functions, duplicate data, and more issues in reconciliation.

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Given below are the common PTP challenges that impair the ability to effectively execute and manage the key activities.

Reduced Accuracy

A manual, paper-based data entry process escalates the risk of errors

Lack of Visibilitys

Delayed exchange and accessibility of information across the supply chain

Forged Invoicing

Inexistence of centralized history of transactions

Delayed Transactions

Manual routing and sign-off processes decelerate the payments

High Costs per Invoice

Resolution of human errors increases the cost per invoice

Code Elevator Approach - Blockchain Solution for Procure to Pay

Blockchain technology can disrupt the PTP process and provide operational benefits like better transparency, security, and efficiency in transactions. Furthermore, blockchain in procurement can decrease the workload of streamlining by automating the exchange of information

We harness blockchain technology for procure to pay, to create a solution that covers the entire spectrum of PTP processes – from scanning and processing invoices, data management, funds management to ensuring on-time payment while minimizing value leakage and reducing cost of operations. Our blockchain procurement solution development services deliver business value to our clients by helping them achieve the following:

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TEasy User Onboarding

Blockchain-driven KYC or digital identity verification process accelerates user onboarding and provides a centralized repository of verified user documents that can be easily accessed by the requester.

Improved Validation and Authentication

Blockchain enables quick distribution of authentication rights along the procure-to-pay chain, thereby enabling fraud prevention and augmenting security across the PTP process.

Invoice Processing

The exchange of invoices using the blockchain technology enables shared access to the database and eliminates the need for invoice scanning. The authorized parties can review transactions without reconciliation.

Accelerated Settlements

Complete transparency and real-time access to the shared database eliminates the need for reconciliations. This can potentially transform the business practices, like the standard D+30 days settlement time.

Greater Trust among Stakeholders

The shared public IDs, fair ratings assigned to market players based on the quality of products, reliability in delivering, and timely payment of invoices, and transaction history bring trust and transparency to the PTP process.

Reduced Money Laundering Risk

With real-time access to permanently retaining, tamper-free historical information about payments, it becomes easier to identify suspicious transactions and alleviate the risk of money laundering.

Our Clients

Features of our Blockchain-based Supply Chain Solution

Our blockchain-based supply chain solution is packed with market-leading features to deliver high performance.

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Multi-currency Wallet

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Smart Contract

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Powerful Matching Engine

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Instant KYC and AML

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Liquidity Options

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Reporting Dashboard

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Multi-layer security

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Funds Management

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User Management

Our Software Modules Include

1

Admin Panel

  • Shows data-rich dashboard, buy-sell transactions, send-receive transactions
  • Provides a real-time view of the exchange and transactions
  • Exhibits user details.
  • Provides real-time reports about users, transactions, and revenue
  • Enables the management of user profiles, funds transferred, and tokens created and distributed
2

Exchange

  • Crypto-to-fiat trading
  • Order book to view buy-sell prices of crypto assets
  • View open orders
  • 24-hour order history
  • Monitor real-time trading prices
  • Transaction history
3

Wallet

  • Provides real-time view of transactions
  • Enables management of different crypto wallets
  • Displays balance of all cryptocurrencies, tokens, and fiat currencies
4

Smart contract

  • Enables the creation of ERC20 tokens for payments
  • Manages the supply of tokens
  • Facilitates automatic transfer of tokens to users’ wallets
  • Manages the burning of tokens

If you want to build a B2P blockchain solution for procure to pay with custom modules as per your business needs, we can navigate your development journey.

Security Features of our Blockchain Procurement Solution

We fortify our blockchain-based supply chain solution with multi-layer security to ensure secure processes across the PTP chain.

Safe and Secure

HTTP Authentication

We leverage secure HTTP Authentication tokens, such as OAuth for user authentication.

Personalized Solutions

Data Encryption

The encryption of data transmitted over the network safeguards user credentials and other confidential information.

Experienced Team

Jail Login

It helps prevent multiple failed login attempts for a specific time.

Latest Technology

Anti-Denial of Service (DoS)

It protects our blockchain procurement solution from large requests to the server.

Quick

Cross-Site Request Forgery (CSRF) Protection

It safeguards our solution against state-changing requests and other unwanted user actions.

Our Proven & Successful Cryptocurrency Development Process Model

The proven and essential strategies that we follow for a Successful cryptocurrency development Process

01

Planning & Execution

During the preliminary research stage, our experts will evaluate, examine, and identify blockchain algorithms, mining setup, forking, hash values, etc.

02

Whitepaper Creation

Your whitepaper is written by our team of professionals and includes all relevant information regarding your project's & features' plans, roadmaps, etc.

03

Technical Design phase

The technological design includes the creation of wallets, connecting nodes, configuring explorers, etc.

04

Development Phase

The process of developing a cryptocurrency involves putting algorithms, hash values, technological packages, wallet construction, block exploration, etc. into practice.

05

Testing & Deployment

Our cryptocurrency development team will test and launch your project if it includes multi-coin transactions, evaluate the functionality of nodes and wallet support, find and fix any errors, and more.

06

Launch & Marketing

With thorough marketing methods, our qualified team launches your new cryptocurrency.

Happy Customers

“I have worked with Code Elevator on several projects and always enjoy our collaborations. The team is very agile and able to use the technology you need, in order to solve the problem.”

Vinod Sharma

“I would recommend Code Elevator to anyone who is interested in starting their own cryptocurrency. They are very professional and will make sure your project is delivered on time and with quality.”

Vaibhav Bhamre

“The team has years of experience and expertise in the crypto space. They are always willing to help grow your business and make sound decisions. I recommend anyone looking for high-quality work, to get in touch with them!”

Prashant Meher