Large enterprises which manage their invoices do about 90 percent of this work manually. This leads to higher cost for any organisation and the situation turns complex when it has to engage with third party organisations. For example, a large enterprise that gets invoices from 30 different partners or vendors is difficult to manage.
Param Network has created a technology platform based on blockchain technology, which can reduce the complexity of handling invoices while also ensuring there is trust and transparency in the entire process.