Ameri Holdings Inc (NASDAQ:AMRH) recently unveiled plans to expand its services using blockchain technology so that it can facilitate efficiency, trust and transparency in customer supply chains.
The company plans to carry out the expansion through blockchain integration aimed at enhancing the customer supply chain management process. The results of this integration include improved accountability and more transparency in every stage of the client’s supply chain. Ameri Holdings plans to go about this endeavor through its own blockchain which it will develop in partnership with blockchain technology firms. It will also involve the acquisition of startups that provide blockchain functionality.
The expansion of the services will mainly focus on simplifying vendor contracts through the adoption of smart contracts, traceability and also enhancing visibility for the supply chains. These improvements will be carried out for Ameri’s customers in numerous sectors including retail, manufacturing and aerospace. These sectors collectively make up the company’s largest customer base and they also represent the industries that are adopting blockchain technology.
Ameri Holdings’ CEO Brent Kelton stated that his company’s blockchain initiative highlights the fact that it employs a customer-driven approach to supply chain management. It also demonstrates the commitment to provide significant advantages compared to the offerings of the conventional supply chain IT infrastructure that which has been in place for the past few years. Improved efficiency and transparency in the supply chain management should also lead to noteworthy savings in terms of time and cost.
The expansion of the company’s services through blockchain is expected to drive more success for the company in the future especially as more enterprises adopt blockchain and other new technologies. The blockchain initiative was announced on January 10, 2018, and it is not only going to benefit Ameri customers, but it will also allow the company to retain existing customers while attracting new clients.
Blockchain is the ideal solution for the expansion and the business as a whole because it is decentralized and has trust built into the network. This makes it secure and a much better solution for corporate systems. Ameri hopes that the new direction will also favor its financial performance.