Automation Archives - Page 5 of 6

The right cost of legal tech

on July 30, 2021

The business world has deep roots in technical innovation – a rich tradition that now translates into blockchain adoption and the implementation of smart contracts. From a legal operations perspective, success is supported by adopting legal tech in a company. Corporate legal counsels are able to perform at great speeds. They are able to pay close attention to a great many details.

Nevertheless, companies required a significant change to their legal operations. Or to put it differently – the right cost of legal tech is crucial to improving operations. As legal teams become overwhelmed, stressed and understaffed, automating outdated manual processes for contract drafting and contract management is the first step.

So how do you increase productivity and efficiency for your legal teams via smart contracts?

Reading time: 3 minutes

Trakti automating control with blockchain Photo by Maximalfocus on Unsplash

Automating controls and compliance with blockchain

on July 28, 2021

Automating controls and compliance with blockchain is the next step in the digital transformation of companies of all sizes and types. Blockchain technology can create greater efficiency than we’ve ever known, while reducing delays, costs and errors.

Reading time: 3 minutes. Photo by Maximalfocus on Unsplash.

Trakti hold-up problem in contracts Photo by Kai Pilger on Unsplash

Can automation solve the hold-up problem in contracts?

on July 20, 2021

A hold-up problem in contracts is the situation where after one party has made some relationship-specific investment, the counterparty refuses to fulfil the original terms of the contract asking for better conditions.

Reading time: 4 minutes. Photo by Kai Pilger on Unsplash.

Trakti Blockchain for automation in supply chain operation

How we can use blockchain and smart contracts for supply chain automation to avoid future disruption

on June 8, 2021

The relationship between blockchain and supply chains has developed in recent years. Thanks to concrete examples and successful pilots, blockchain and smart contracts for supply chain automation are now gaining momentum.

In less than a decade we’ve started to see real-world applications and how some industries are already reaping the benefits. Distributed ledger and blockchain technology clearly have many far-reaching implications for global trade and supply chains.

Reading time: 3 minutes. Photo by frank mckenna on Unsplash

Uniqueness and conformity checks in blockchain

on May 24, 2021

The adoption of smart contracts has the potential to connect buyers and sellers on a whole new level. The uniqueness and conformity checks in blockchain can enhance payment capabilities and  innovate O2C and P2P processes.

Reading time: 3 minutes.

How to align and automatically update CRM data with contract data

on May 18, 2021

When you think about how to align and automatically update CRM data with contract data, it’s important to consider the benefits of streamlining the entire contract process. Superior contract management solutions take advantage of customer relationship management (CRM) technology to deliver a client-focused service for your business.

Reading time: 3 minutes. Photo by Austin Distel on Unsplash

Smart Contracts and Tokens for supply chain automation

on March 24, 2021

Smart contracts and tokens for supply chain automation are of paramount importance.

Tokens are digital entities that may be used as a digital representation of physical assets (ingredients, subproducts, etc.) and information. Furthermore, with tokenization, suppliers reap the ultimate benefits of blockchain assets. Tokenization forbids duplication, making it non-fraudulent and ensuring accurate tracking and proof of ownership in a transaction. And not just these.

Reading time: 4 minutes,Photo by Arisa Chattasa on Unsplash

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