208  Blockchain

APPROVAL PROCESS OF THE

BLOCKCHAIN BUSINESS CASE

Once the blockchain business case has been created, the next big thing is

to get it approved to start the execution phase of the business case. I believe

that the approval process of the business case is as important as much as

creation of it. This section will go through the process of the business case

approval.

The business case approval process within blockchain space is like any

other business case approval. The following are the steps involved in the

approval process along with suggestions that can assist in getting the

approval within a reasonable time.

• Depending on the organisation size and process, the approval process

can be simple or complex

• The first step before going through the approval process is to find

out a list of all appropriate stakeholders who need to sign off on the

approval of the business case. The stakeholders can be as follows:

⚬

⚬Sponsor of the business case

⚬

⚬Business key stakeholders

⚬

⚬Finance department key stakeholders

⚬

⚬Legal department

⚬

⚬Cyber security department

⚬

⚬Vendors or a third party’s financial department, if used for the

solution delivery

⚬

⚬Business and IT chief architect for the solution being proposed

Business case framework 2 – Applied on Blockchain

Executive summary

Transformation of existing Supply chain system with

Blockchain based system to improve resiliency, provide real-

time visibility, save workflow time, reduce cost and improve

security

Leadership Team

Sponsor: Mr. Kapil Sharma (CEO Scotland region)

Programme manager: Mr. John Smith

Engineering head: Dr. Nan Lee

Product manager: Mr. Sundar Sharma

Problem statement and case:

•

The current supply chain workflow is manual, complex,

time consuming and prone to extensive human errors.

•

A digital transformation is required urgently to automate

the end-to-end workflow to make it simple, transparent,

fast, resilient and secure

•

Blockchain technology is disrupting the whole supply

chain space and we must implement the technology for

our whisky production department

•

Blockchain adoption will reduce the time taken by

customs processes, acknowledgment of the receipt by the

distributors and payment process.

•

Blockchain can improve the end-to-end time for the 1

business journey by 30%

•

Blockchain adoption can improve the ROI by 20%

•

Blockchain adoption can reduce the fraud by 30% by

proving authenticity of the whisky

Deliverables Roadmap

Q1 2023 - Programme initiation, product/platform

evaluation, Request for quotation from vendors, start setting

up programme teams

Q2 2023 – MVP (Minimum Viable Product) of the 3 options,

Q3 2023 – Selection of the Blockchain platform/product and

a vendor to build it

Q4 2023 – Q2 2024 – Platform live and in production

Benefits

Cost reduction, reduce workflow completion time

improve security, gain trust from customers, reduce fraud,

gain competitive advantage over competitors

Budget ask:

$1m released each quarter as per the deceivable roadmap

Risks: Delay in regulatory approval or third parties adoption can delay the launch of the

platform that can increase the budget ask

Figure 7.4  Business case framework 2.