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Summary
Schrocken improves cycle time & reduces overheads associated with Warranty and related contracts by
1. Capturing warranty related events triggered by IOT enabled machines in blockchain to significantly improve transparency, visibility & traceability
2. Automatically executing the associated predefined Smart Contract workflow processes.
Problem
Typically various machines (e.g. industrial equipment ) operate under a variety of contracts such as warranty and maintenance during their lifecycle. Administration of these contracts is inefficient due to lack of transparency, trust and traceability; requires huge human intervention (paperwork, emails, phone calls); and still result in disputes.
Solution
Schrocken is building a “blockchain based application platform that performs controlled and automated execution of service level agreements (SLA) using self-executing contracts (Smart Contract) based on real-time inputs from connected IOT enabled machines and devices. The Sm...
Summary
Schrocken improves cycle time & reduces overheads associated with Warranty and related contracts by
1. Capturing warranty related events triggered by IOT enabled machines in blockchain to significantly improve transparency, visibility & traceability
2. Automatically executing the associated predefined Smart Contract workflow processes.
Problem
Typically various machines (e.g. industrial equipment ) operate under a variety of contracts such as warranty and maintenance during their lifecycle. Administration of these contracts is inefficient due to lack of transparency, trust and traceability; requires huge human intervention (paperwork, emails, phone calls); and still result in disputes.
Solution
Schrocken is building a “blockchain based application platform that performs controlled and automated execution of service level agreements (SLA) using self-executing contracts (Smart Contract) based on real-time inputs from connected IOT enabled machines and devices. The Smart contract updates the state of the machine for all stakeholders and launches actions in enterprise systems (ERP, CRM, and Service Management). The entire workflow is executed automatically with an immutable audit trail for complete transparency to build the
trust among all the participants.

Benefits

This automated contract execution improves compliance, and cuts down the costs of
non-compliance to all stakeholders. Specifically, OEM’s Service & Aftermarket
operations will achieve superior efficiencies.

Product Validation

We are reaching out to customers directly and through channel partners to demonstrate/implement a proof of concept solution, and identify new product features.
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