Enterprise blockchain solutions untangle intercompany transactions
At least 50 MNCs of the Forbes Global 2000 list are employing their enterprise blockchain solutions to process intercompany transactions. With many subsidiaries operating in different jurisdictions, intercompany transactions of MNCs require high accuracy and reliability over a long time. Building a system that allows smooth transactions and provides sufficient information for the rigorous audit process is a big challenge for MNCs. Leveraging the transparent, immutable storage capabilities of enterprise blockchain solutions to process intercompany transactions is a trending movement in many MNCs. Difficulty in managing intercompany transactions of MNCs An MNC's business network generally includes the following types of stakeholders: Subsidiaries, shared service centres, regulators, suppliers and customers in different jurisdictions. Operating in the global market requires MNCs to ensure a balance between the regulations, the company's inherent modes of operation and the specifi...