The blockchain approach for multi-vendor outsourcing
The blockchain-based approach could prove particularly useful for more complex multi-vendor outsourcing arrangements, in which several suppliers are jointly responsible for a particular outcome. “Blockchain is good at multiparty systems and multiparty validation,” Ferrusi Ross says. “The way it would work is, once a supplier entered its data about the way as SLA was performing, everyone would have a copy of that record. Everyone would be working from the same data set and know where everyone else is.”
While there have been no other high-profile examples of IT service providers and their customers applying blockchain technology specifically to the management of their engagements, outsourcing customers with interest in the technology might look to their outsourcing partners to set up this kind of pilot. Chances are the service provider has a system or platform the customer can plug into to start to see how it works, Ferrusi Ross says.
Sign up for CIO Asia eNewsletters.