Omnichain VP of product and operations, Diane Sullivan, explains how Blockchain-as-a-Service streamlines Blockchain deployment so that companies of all sizes can reap the benefits of distributed ledger technology.
Since the launch of Salesforce and its famous “No Software” campaign in the early 2000’s, Software-as-a-Service (SaaS) has evolved to become one of the most widely popular delivery methods for IT solutions. Now, SaaS products are available in the marketplace for nearly every aspect of business.
A major draw of SaaS is that implementation is quick and easy, with little cost required up front. Cloud-hosted and subscription-based, there is no hardware to buy or software to install. All you need is a device with an internet connection.
The SaaS model has been integral in enabling companies of any size to access and optimize their business processes with the latest IT innovations. Today, SaaS is helping to drive the adoption of distributed ledger technology, in the form of Blockchain-as-a-Service platforms (BaaS).
Barriers to Blockchain adoption
Though it is set to disrupt nearly every industry, Blockchain holds significant potential for supply chain management. A growing number of businesses have already piloted the technology as a means to create complete supply chain transparency and product traceability.
Many of these early pioneers, however, have been large corporations with massive IT budgets (think Walmart, Target, FedEx, etc.). Real-world adoption has remained relatively low across the board, as a major deterrent for many businesses is the time, cost and complexity involved in creating and implementing an on-premise Blockchain system.
Most systems available in the market today require substantial up-front investments in new infrastructure and involve lengthy deployments. It often takes up to 12 months for vendors to develop a customized solution—and even longer to see any return on investment.
How BaaS breaks the mold
This is exactly where Blockchain-as-a-Service comes in. Much like the SaaS model, BaaS offers significant efficiencies when it comes to implementation, where its on-premise counterparts fall short:
- Speed: BaaS cuts deployment time from months down to weeks. With the right vendor, a BaaS platform can be planned, developed, tested and then go live in under 90 days. And the faster the deployment, the faster your company will begin to realize a return on investment.
- Simplicity: Your company doesn’t need to buy or set up any new, large infrastructure. Instead, BaaS platforms just require a device with an internet browser. The technology is easy to set up since all the heavy lifting for implementation—not to mention ongoing maintenance—is handled by your technology vendor, rather than placing the burden on your in-house IT team.
- Easy Integration: BaaS platforms can be layered with existing supply chain management systems and easily integrate with virtually any established software, including accounting, inventory management, procurement, e-commerce software, etc. This way, your entire technology stack works seamlessly together to digitize your entire supply chain.
- Affordability: BaaS platforms use a low-cost, subscription-based model of delivery that makes deployment affordable for nearly any IT budget. Users can make smaller, monthly payments instead of paying large sums up front. Any system updates are included in that subscription, instead of requiring you to purchase new software every time the latest version is released.
- Scalability: BaaS has the flexibility to grow with your organization. BaaS platforms can be deployed at a level that meets your current needs, and then easily scale to match your growth trajectory. With one system, your company can meet its evolving business goals for years to come.
Overall, the low-cost, high-value BaaS model streamlines implementation so that companies of any size—from small startups to global conglomerates—can easily reap the benefits of Blockchain. Moving forward, BaaS will be instrumental in breaking down the barriers to widespread distributed ledger technology adoption, ushering in a new wave of transparent, secure and efficient supply chains.
Want to learn more about the real-world benefits of BaaS? Click here to read how frozen food brand Ruby Rockets was able to easily implement BaaS technology for complete supply chain traceability.