Blockchain Technology in Vendor Governance

Blockchain enabled Service-Level Agreement (SLA) management may not revolutionize the practice, but owing to its features, it will certainly improve efficiency, speed, and accuracy enabling companies to digitize every component of the contract and validate the service.

If service providers and their customers were to tie their payment systems and SLAs together on a blockchain in that way, it would increase the efficiency of outsourcing contract management with a great deal and hence with the proposed system, contract management will get automated.

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