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Blockchain

Store transactional data (both financial and non-financial) and share it with users across your system.

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Baker Tilly can help your organization deal with the ever-changing blockchain technical landscape.

    Outcome focused business case

    Baker Tilly can help you create a business case that can be monetized for participants in the blockchain initiative. We help product managers develop quantified business outcomes for blockchain by leveraging our experienced team of technology professionals.

    • Framework for business process: To achieve long-term success, organizations must use the core consulting tenets of change management to build assets focused on employee-to-employee interactions, supply chain ecosystem relationships and internal organizational structures.
    • Minimum viable ecosystem: Companies must leverage the deep connections that exist throughout their organization and bring multiple stakeholders to the table and to collaborate. Blockchain products must be focused within a vertical where the provider has strong relationships with key participants.

    Top challenges

    Some of the most common challenges our clients are facing include:

    • Quick evolution of the technology: Dealing with the ever-changing blockchain technical landscape.
    • Lack of skills: Stakeholder's in the Blockchain market need vertical and context-specific strategies to seize growth afforded by advancements in the blockchain market.
    • Addressing the right buyers: Creating differentiation through disruption - satisfying buying expectations of both IT and business buyers.
    • Immature capabilities: The Blockchain marketplace will continue to evolve and add capabilities to differentiate their blockchain solutions.

    Core technical components

    Five core technical capabilities, when in combination, determine whether blockchain might be the right technical strategy instead of other technologies such as relational databases or messaging infrastructures.

    • Trust required in exchanging value
    • Transparency enables efficiency and disintermediation
    • Immutable history
    • Seamless security and integrity
    • Transactions interact and/or require tokenization

    Validate key benefits

    If you're considering making the investment in this technology, here are some of the benefits blockchain can offer your organization:

    • Focused pain points identified: Specific pain points for how each party involved in a  blockchain program is established, usually at the boundaries of where each party interacts, transacts and contracts.
    • Business value monetized: Each party can quantify how it will save money or make money from the pain points addressed by the blockchain program.
    • Short-term benefits realized: Each party to the blockchain program can point to specific measurable financial outcomes that justify the current expense and how the return on investment will be achieved.
    • Long-term benefits realized: Ongoing expenses of the program are worth the investment because the pain points solved are crucial to running the business and incremental financial outcomes are a result.