With robust digital transformation and a surge in Industry 4.0 revolution, blockchain has become a mainstream technology. For the past decade, blockchain has become more innovative, more accessible, and reliable for companies across industries. Not only establish large companies, but even small business owners can also leverage its potential to scale their operations and customer base.
More than 77% of the senior executives believe that they can lose their competitive benefit without blockchain. With such huge statistics, it's evident that blockchain technology is the future, and it will outperform other frameworks. The blockchain market will hit the mark of USD 39.7 billion by 2025, and this figure will grow as more companies adopt it.
Blockchain offers several advancements that can accelerate SMBs and help them overcome multiple business challenges seamlessly. On this note, check out how SevenBits can help small and medium businesses.
Seamless payment options
Managing capital flow efficiently is the biggest challenge that small and medium businesses face due to several complexities. With a growing business, the partner ecosystem also scales, and it becomes intricate to have a transparent payment system for all associated business entities.
To solve this problem, blockchain-based payment systems and cryptocurrency wallets can help companies. As blockchain is a decentralized technology and no single entity has complete control, the transparency factor improves drastically.
SevenBits helps SMBs with bespoke smart contracts development services and streamline their payment process. Smart contracts are self-validating and executing codes that can verify if the transaction of data or money is valid or not. As these contracts are immutable, there are no chances of data forgery or duplication. With blockchain, companies can simplify their thousands of transactions in their pipeline to ensure higher trust and transparency among all.
Blockchain brings security
Compared to centralized systems, blockchain is significantly secure and reliable. As the data is distributed among multiple ledgers, no one can manipulate the data as it's impossible to copy the changes in all connected nodes. In 2021 and beyond, customers are emphasizing security more than anything else.
To stay relevant in the business and to offer a better customer experience, upgrading to blockchain technology is inevitable. At SevenBits, we help companies migrate their legacy systems to modern blockchain-based databases to ensure intact security.
Our team analyzes, drafts, and implements a bespoke security advancement to ensure it doesn't affect the existing running programs. Blockchain technology secures the entire business system and retains the same security as the business grows over time.
Supply chain management
Blockchain is a boon for companies looking to optimize their supply chain management without adding extra resources. Over time, the number of products and suppliers grows to a substantial level, and managing everything with conventional methods is time-consuming.
With SMBs dealing with multiple vendors, suppliers, procurement agencies, it becomes essential to automate all possible aspects of the supply chain. Be it managing payment, or efficient tracking of real-time inventory change, blockchain eases all complex operations.
With SevenBits' supply chain solution, companies can track all transactions from the omnichannel source of origin and update the record in no time. This advancement eliminates the need for having third-party agencies into the operation and makes the business more secure. From inventory auditing to ground staff management, smart contracts and blockchain-based databases can help companies take the edge.
Improved customer experience
With growing digital disruption, customer experience matters the most like other pivotal business operations. A better customer experience means more customers, improved sales, and a competitive advantage over others. Using blockchain technology, SMBs can seamlessly ensure customer operations and communications.
Leveraging blockchain solutions, customers can directly send or receive payments using wallets that charge significantly lower charges than the conventional banking systems. Also, it's easier for companies to gain customer trust with blockchain compared to traditional methods.
To help companies with better customer experience, SevenBits offers more than eight public and private frameworks to transform their existing business ecosystem.
Faster E-Commerce growth
In these challenging times, the E-Commerce industry is flourishing, and more small retailers are coming online to grow their customer base. With a blockchain-based payment system, webshops can scale their business internationally by accepting payments seamlessly with fewer transaction fees.
On the other side, as customers can retain their privacy while paying, it enhances the overall shopping experience. Anonymous checkout is the future of the E-Commerce business, and blockchain can help companies stay ahead in the league. Whether you have a nopCommerce store or a Shopify website, SevenBits blockchain experts can integrate custom blockchain solutions.
Accelerate your business with SevenBits blockchain CoE
SevenBits is a leading blockchain development company, and we offer a comprehensive range of blockchain solutions. Be it Ethereum, Hyperledger Fabric, Bitcoin, NFT, or Ripple, we have got you covered.
From smart contract development, non-fungible tokens integration, and legacy migration — our experts understand your business offers a custom solution that accelerates growth. We have a dedicated Blockchain Center of Excellence that ensures robust planning to become future-focused.
It's the right time to thrive online using blockchain and stay ahead. Get in touch with us at [email protected] to explore growth opportunities.