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Since the start of COVID-19 and its quick spread around the world, organizations have been under pressure to reconsider their workflow, including customer relationship management.
It has become evident that the pandemic is pushing companies for changes much faster than they would without the global health and economic crisis. As a Forbes article suggests, for example, due to COVID-19, manufacturing will experience five years of innovation in the next 18 months.
One of the critical areas which are already undergoing rapid development and implementation is blockchain. According to this post at the World economic forum’s website, blockchain can be used in supply chains to shape a post-COVID-19 economic recovery: “The need to process transactions quickly and verify the creation, transmission, and reception of a particular exchange of value is ever more critical to business success. Blockchain can help rebuild disrupted networks by providing trading partners and consumers with transparent trusted and secured data on goods and transactions”.
The need for establishing trust in online relations which implies significant financial and legal responsibilities has a direct connection with CRM systems. Customers, partners, auditors and other players who have started relying on online workflow much more than before, require efficient instruments to be able
- to prevent online fraud or manipulation with documents
- to prove documents authenticity
- to enable efficient audit, remote when possible.
It makes a solid use case for blockchain-based timestamps to protect documents in a CRM system.
When you need to prove the integrity and authenticity of invoices, purchase orders, payment requests, contracts, etc. in the CRM system, you can timestamp your documents. In other words, you can put a digital seal on a document that will certify that the document had this specific look and content at the time of sealing. And the seal is protected with the blockchain technology, known for its reliability and security.
Now a question: how can a CRM system user apply blockchain without much knowledge about it?
Nowadays, certain technologies help you leverage the whole power of blockchain via an easy to use a familiar interface.
One example is CB Digital Seal with Blockchain Technology, an add-on to Dynamics 365.
A huge advantage of the add-on is that you can timestamp any document or file and then verify that nobody has changed the file (or alternatively, has manipulated the document) with a click of a button. The add-on integrates seamlessly with Dynamics 365, and you continue working in your familiar environment.
CB Digital Seal timestamps documents much faster and cheaper than any other authenticity certificates or blockchain apps thanks to the new technology. Watch a video explainer how the app works.
In the post-COVID era, where logistics chains are falling apart, and traditional workflows are disrupted, maintaining stable relations with customers using online tools is becoming mission-critical. And being able to keep the authenticity of all documents and proving it, can help businesses to transition to new models of online work with customers, partners, and other players easier.
By Anastasia Mazur from Connecting Software, a producer of integration and synchronization solutions for business needs.