Finance and accounting professionals often use a dedicated application to close and report financial data, but they use manual methods to extract specific information to support collaborative planning and decision analysis around that data or to collect data across disparate financial systems.
Blockchain technology has the potential to significantly change the way finance professionals work. At the heart of the Boardwalk Enterprise Blockchain service is a patented shared digital ledger, where each party needing to work with financial data can securely access only their data, and as the ledger is updated, only the changed values are committed to an irrefutable, verifiable blockchain which helps to prevent fraud and ensure data is both accurate and complete.
Boardwalk is ideal for managing forecasting processes in any company that needs to collaborate between multiple participants and consolidate everyone's input into a single, trusted and verified forecast. The collaboration and trust features of Boardwalk, which leverage legacy planning models without re-platforming while adding the trust and security of shared digital ledger blockchain, insure that accurate and current forecast data is available at all times to monitor the forecast for the company and to make better decisions, faster.
Treasury and Cash Management continues to evolve as a very strategic and critical function within the enterprise although according to an HSBC survey, 79% of companies polled still use spreadsheets in their cash management and treasury functions which represents significant inefficiency, and risk. Boardwalk lets you develop an enterprise quality digital ledger blockchain protocol for all your treasury and cash management data opening up immense opportunities for increased efficiency, transparency, and security of your financial processes.
In today’s fast paced business environment, it’s not enough to go through the traditional process of a tedious tops down budgeting and planning cycle, then spend weeks or months manually iterating only to roll it all up again and see how far your off. And, during this whole cycle, not knowing who changed what, why, or where the latest data is located-- let alone trusting that it's correct. Boardwalk Enterprise Blockchain is a fast, reliable digital ledger system. It captures and verifies transactions between parties giving all transactions a trusted and traceable digital audit trail. With Boardwalk Enterprise Blockchain, the integrity of each update is guaranteed meaning better data, faster cycles, and better business outcomes.