Post-COVID-19, businesses are seeking more efficient ways to improve their cost-optimization and boost their overall revenue. With ever growing competition and innovative customers' demand, it becomes challenging for companies to keep the quality quotient higher and keep the cost low.
Be it automotive, construction, fintech, or core domains, every business now needs efficient ways to boost their revenue regardless of their company size. With the rapid digital transformation, the traditional processes are lacking to deliver the required output. In the year 2021 and beyond, companies will need robust technology support to grow their business.
On this note, let's look at how businesses can leverage blockchain services to boost their revenue without cutting profitability.
Elimination of third-party dependency
The majority of companies pay a substantial amount to third parties to make their financial and other data transactions smoother and faster. But, in the long run, the third-party cost compounds a severe amount that may affect the organization's overall revenue goals. For solving the dependency issue, blockchain is playing a winning role.
Blockchain is a peer-to-peer distributed ledger technology that aids multiple parties to exchange data and perform transactions without any third-party intervention. With blockchain-based smart contracts for sharing data, leveraging end-to-end wallets can help companies save huge operations costs from third-party services.
SevenBits helps your company to migrate all the legacy processes and integrate performance-driven blockchain advancements. It will also help you boost your multiple teams' performance by eliminating manual monitoring and verification work.
Higher customer retention rate
This competitive era demands exceptional services from companies to stay relevant in the business. Maintaining a higher customer retention rate has become more challenging than onboarding new customers now. As customers have multiple vendor options for their requirements, it has become imperative to stand out.
With blockchain, you can uplift the overall customer user experience across all the touchpoints of your business. Be it buying products to doing transactions, and managing their personal documents on the go, this technology can automate all. With all such advancements, your business can outperform the competition and achieve a healthy customer retention rate.
SevenBits' Center of Excellence (CoE) team helps you automate complex & manual processes using blockchain frameworks and improve customer experience. With this decentralized technology, you can ensure intact security at every communication point to gain customers' trust faster.
For coping with the hyper-growth of this digital era, businesses need the support of robust technology to back their scalability plans. For growing the business over multiple geographical locations, the traditional approach is not enough to deal with uncertain challenges.
Blockchain offers a wide range of effective scalability options that reduce the complexity and inter dependability. Be it establishing your cryptocurrency wallets for doing transactions or preparing a smart contract-based solution for managing unorganized information; blockchain is here to help. Our team has been working in the blockchain domain for years, and we can draft a fully-bespoke solution to scale your business.
No two businesses are identical despite being in the same domain, and that's why every business needs a custom solution for scalability. To streamline the process, SevenBits analyzes, drafts, and implements solutions that fit your business needs.
Want to explore scalability opportunities to grow your business profitability with blockchain? Get in touch with us at firstname.lastname@example.org, and we will be happier to walk you through.