Zensar launches blockchain based contract management solutions for enterprises; stock up 4%

Zensar Technologies

Zensar, a leading digital solutions and technology services company that specializes in partnering with global organizations across industries on their Digital transformation journey, announced the launch of its blockchain-based contract management solutions for enterprises.

The solutions called DICES (Distributed Intelligent Contract Enforcement System) focuses on contract enforcement while the other solution, called ZenConfluence is an enabling solution on which other applications can run.

The stock is currently trading at Rs187.80, up by Rs7.35 or 4.07% from its previous closing of Rs180.45 on the BSE.

Commenting on this launch, Sandeep Kishore, Chief Executive Officer and Managing Director, Zensar said, “Our Zenlabs team is focused on futuristic technologies to build solutions which help companies manage critical operations in a more efficient manner. Our latest blockchain based offering in contract management will enable our customers to remain agile and competitive. Today, technologies like blockchain, NLP etc. are helping resolve real-life challenges with visible outcomes. Our spirit of innovation is in keeping with what our customers need to enhance their business operations.”

Madhwesh Kulkarni, Senior Vice President and Global Head, Technology Transformation Group, Zensar commented, “Our new blockchain solutions, have been created in-house and address two set of challenges within the overall contract management operations. As enterprises progress to a digital existence, new tools and platforms are needed to enable the transition to the digital world. At Zenlabs, our key objective is to explore new ways of bringing value to our customers.”

Key business benefits are as follows:

  • Ensuring that every clause in a transactional contract is automatically honoured
  • Visible improvements in bottom line from robust contract execution
  • Reduction in the number of legal disputes influencing overall cost to company

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