The private sector has invested more than 1.4 billion dollars in blockchain since 2014. To put this number into context, this is on par with the amount of money spent on internet investments during the early 90’s! What do you know about blockchain? Personally, I knew almost nothing besides the fact it was a technology people were excited about and that it had something to do with Bitcoin. Luckily for me, Procurement U recently released a free course entitled “Blockchain: The Public Sector Big Picture”. This course provided me with a basic understanding of how blockchain works and explains it in a simple, approachable way through videos and interactive graphics. As someone who is not the most technically savvy, I can say that this course helped me understand blockchain and made me excited about its potential uses. This course goes over how blockchain works and how it can be used in procurement. Take this Procurement U course to start exploring blockchain and its uses in your office!
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Want your procurement staff to be ready for the next big thing? There is undeniable value in a staff that is savvy with current technology, but how do you prepare your staff to be ready to keep up with the digital trend that’s here to stay? In many cases, trends come and go, but sometimes they are the forces that drive innovation and success for businesses worldwide. Organizations of all sizes who embrace changing times are better able to develop strategies to manage change in a way that positions themselves for the future. Digitalization is achieved through the use of technology to strengthen existing processes and practices. It can also be looked at as the thread that is woven through multiple silos of information as means to integrate people, processes, and data throughout an organization. Outside of cost savings, there is value in digital efficiency, especially since procurement plays a vital role in shaping strategic models that support the execution of a multitude of contractual goods and services.
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