Business Process Selection & Stakeholder Role Definition
In two initial workshops, we look for a good business process candidate for OmniTrace™ to target. This ideally would be a process that is highly recurring and has reasonable complexity. We don't want to start too big! One of the main benefits of our solution is the ability to scale to more processes in later phases. So let's start small and go big later! Essential to this step is to bring all relevant stakeholders together. They will eventually be the people using the new digital contract. For each of these stakeholders, we then define the appropriate role in the process. The logic of the digital contract will heavily depend on these roles and according actions. A stakeholder can be anyone (or anything!) contributing data to the contract - we can go as far as to include IoT-sensors, measuring valuable realtime data, as a stakeholder in the process.
Smart Contract Composition
Based on the requirements defined in step 1, Pandeia will start developing the digital contract - also called a Smart Contract in blockchain jargon. This will happen in an agile way, based on 2-week coding sprints followed by an interactive sprint review. For this task, we have access to a unique set of readily available Smart Contract code components, which are well tested and ready for use in production. This development phase will typically take around 6 weeks for the first selected business process..
Role Playing Game & Execution
When development is finished and all is set in place to go live, we'll organize a fun day in which we go over all functionality of the digital contract. We do this by playing an interactive role-playing game, in which the people in the room take on the role of a specific stakeholder in the contract. This has to reflect practical situations as much as possible! We will not only tackle happy flows, but also see what happens when we divert from the ideal workflow. The benefits of the digital contract will be immediately visible and experienced by all stakeholders. Giving back ownership of the process and responsibility is what matters here. After the demonstration, we can peacefully put the application in production.
Monitoring & Continuous Improvement
The Smart Contract resulting from the first iteration of the process will be imperfect by design. "You've got to be kidding me!", you must think. Well, let us explain: intentionally, we want to start with a rough draft featuring advanced self-learning capabilities. If you think about it, analog contracts being used today are mostly imperfect as well, albeit without the ability to learn. By using machine learning algorithms and a range of clever data engineering tools over the immense array of data we gathered with our digital contract, even the most subtle effects that we can't spot with the bare eye will be used to improve the contract over and over again. Because of this, the underlying recurring process as such will become smarter, more efficient and less stressful over time. Everybody wins!
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