How Blockchain is acting as a disruptive driving force in the automotive industry

The automotive industry is always in a constant effort of improving its customer experience and optimize the internal processes. As the competition is increasing, companies seek advanced technologies and frameworks for retaining their top spot. 

When it comes to using disruptive technologies in the automotive industry, blockchain is the most promising technology that has the highest potential. From implementing automation, a shared communication system to higher data security, blockchain possesses all the needful frameworks. 

On this note, let’s look at how Seven Bits can help you in taking an edge in the competitive automotive industry and serve customers more effortlessly.

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Seven Bits Helping Businesses Identifying The Right Blockchain Framework In Three Easy Steps

Multi-point process inspection:

Our team examines each and every business process with multiple checkpoints to prepare the readiness report. It helps in finding the right blockchain implementation strategy for optimum performance.  We re-engineer existing processes to make you future-ready.

Automation and data architecture:

We create a blueprint of all internal and external operational processes to create robust end-to-end data architecture. From secure data transmission to encrypted processing, creating a data blueprint for your automotive business leads to higher performance and cost optimization.

Risk Analysis and Coverage:

By creating a process blueprint, our team helps to locate and fix all the potential risks an automotive business has due to manual operation. Be it secure data management or document verification, blockchain can add an extra layer of security through encryption. 

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Blockchain transforms the entire value chain of the organization:

For making an automotive business stand out, blockchain brings in numerous digital transformation key aspects that help you operate faster, risk-free, and optimized. With our blockchain applications, we help you take the lead through:

Internal Process Improvement:

For better organization execution, companies need to optimize their internal processes. Our blockchain solutions can help automate back-office work, supply chain management, automated inventory follow ups, and many more. We help you in improving the procurement cycle by automating the KYS (knowing our supplier) process. Automate and secure sensitive information through blockchain data processing.

Secure payment solutions for automotive:

Seven Bits help you upgrade the payment process of your company and make it secure than ever. Enjoy end-to-end encrypted payment solutions to manage finances in an error-free and secure way. We integrate secure wallets to your existing payment channels and add an extra layer of security. Leverage functionalities like auto leasing, electric vehicle payments, secure transaction processing to make your business future-ready. ‍

Supply Chain Improvement:

Track and record supply chain in a more insightful manner with blockchain-backed database solutions. Having a streamlined and monitored supply chain is significant, as it may include multiple mediators. Prevent raw material, spare parts, and other important hardware from being replaced or forged. Seven Bits solutions include cloud-based supply chain tracking, secure data-binding from different vendors, self batch verification through blockchain, and more. 

As of now, these advanced applications for the automotive industry are just the tip of the iceberg. Seven Bits is constantly evolving in creating a more transformative blockchain application to make this industry capable of doing more in less time.   
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With in-depth brainstorming, we help in evaluating business readiness for better growth aspects with reduced risks. Get in touch with us to know more about our transforming blockchain services for the automotive industry.