EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.
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EY OpsChain Contract Manager
EY OpsChain Contract Manager (OCM) helps organizations run procurement activities using smart contracts on the Ethereum blockchain network.
EY OCM reduces the complexity created by extended business networks, fragmented IT systems and variable procurement agreements.
Streamline contract management
EY OCM simplifies and automates contract management, reducing inefficiencies and intermediaries.
Reduce value loss
EY OCM enforces contract compliance, preventing financial losses from procurement discrepancies.
Improve transparency and trust
Tamper-proof records are facilitated on a public blockchain so transactions are recorded in a trustworthy manner.
Easy to implement design
EY OpsChain Contract Manager runs through an API that makes it easy to configure and manage smart contract providers. Firms can set up customized user-interfaces that allow them to configure standard pre-built contracting models. Pre-built models include Power Purchasing for renewables and volume discount models for enterprise procurement. Additional models are currently being developed.
Protect confidentiality with privacy-enhanced technology
EY OCM is zero-knowledge-proof enabled, providing enhanced privacy and allowing organizations to configure critical contract terms, transaction details, and other confidential information and ensure it remains shielded, even on public blockchains.
Seamless integration
Standardized API integration facilitates integration with a diverse range of external systems, from ERP and CRM to IoT devices, helping to streamline the flow with EY OCM, determining the gap between contractual obligations and supplier performance.
Real-time monitoring
Automatically validate contract terms with real-time checks, monitor policy adherence, and receive instant alerts on discrepancies, so transactions that are not compliant with the contract terms do not pass through.
