When it comes to software, it doesn’t come any bigger than SAP. And now the multinational giant is looking to further its interests in blockchain technology by integrating it into one of its existing products.
Not the First Foray
Of course, this is not SAP’s first step into the unknown. In fact, they have been extremely active in the world of blockchain, especially over the past 12 months. Back in November 2017, they added a further 27 members to their blockchain innovation program, as they look to encourage collaboration on new business processes that could benefit from the tech. They have also been in close contact with the Alastria consortium.
Track and Trace
SAP’s existing track and trace product is already widely-used. But the addition of blockchain will serve as “an additional layer complementary to core processes that creates one shared view on the data from all involved stakeholders contributing to the supply chain”, according to Torsten Zube, the head of blockchain at SAP. Indeed, the advantages of blockchain tech within this sphere are well-documented, allowing companies, receiver businesses and individuals to trace the exact origins of each product they purchase, as well as every single step on the supply chain, right the way through to its arrival on a shop floor (or with a customer).
SAP’s announcement will, of course, turn heads. And the adoption of blockchain in an established product will provide yet another boost to the tech which is being rapidly adopted by the world.
Image Credit: Deposit Photos