SERES delivers faster and safer invoicing on Oracle Blockchain Platform
SERES Achieves Increased Trust, Traceability, and Transparency with Oracle Blockchain Platform to Strengthen its Core Business.
SERES is a company that specializes in solutions for the secure exchange of electronic documents. By enabling decentralized peer-to-peer business interactions and transactions, blockchain posed an interesting dilemma as one of its most groundbreaking benefits is its promise to eliminate the need for trusted third parties.
Rather than ignore this development, SERES decided to confront the challenge head on by integrating blockchain technologies into its services portfolio, leveraging Oracle Blockchain Platform as the foundation for innovative electronic invoicing services.
“Oracle Blockchain Platform provided us with a great business opportunity—it enables us to provide transactional services with guarantees to our clients, notifying them of every stage of the process with complete security and transparency—which is a very attractive prospect for businesses requiring electronic invoicing services.”
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Business challenges
- Improve the security of digital transactions while simultaneously increasing the number of business exchanges
- Establish effective channels between franchisors and franchisees that allow the interchange of any type of electronic document
- Increase business velocity and reduce the time delays associated with manual, paper-based processes
With Oracle Blockchain Platform, we were able to develop our own blockchain solution with the capacity for immediate integration—thanks to the Oracle integration accelerators. This platform allowed us to improve the relationship between franchisor and franchisee through a decentralized and trusted business network with built-in resilience and autonomous recovery of all network components.
Results
- Built and deployed decentralized applications that increased transparency and security of electronic data interchange(EDI)-based invoicing transactions that serve over 3,000,000 people
- Went live with the blockchain application which is run on Oracle Blockchain Platform and provides quicker processes for franchisors and franchisees to facilitate the exchange of over 100 million documents annually
- Deployed a multi-channel blockchain solution capable of facilitating the exchange of over 200 types of documents including orders, delivery notes, reception acceptances, and invoices, among many others
- Improved franchise ecosystem by removing inefficiencies in the processes for acceptance of goods by franchisees and eliminated settlement delays caused by discrepancies in discount-coupon payments
- Reduced the reliance on intermediaries, reducing delays, risk, and high fees