AZHOS addresses a big issue for the chemical industry: without measuring devices, companies face a lack of data in terms of quality and quantity of goods. AZHOS uses an IoT infrastructure combining sensor technology and ERP interfaces in order to solve this problem. The transparent and legally binding data generated, serves as a reliable basis for automation of processes such as restocking, accounting, ordering or financing.
AZHOS enables producers and financial institutions to program real money by implementing tokenized fiat currency. Through using this technology IoT machines can automatically start payment processes and any financial service provider can be integrated. Through the IoT sensors payment flows between customers, suppliers and financiers can be triggered enabling AZHOS to offer consumption based and automated financing reducing payment terms and improving working capital.
As long payment terms consequently imply liquidity challenges on the industry, Supply Chain Finance solutions become more important. AZHOS permits suppliers and banks to autonomously finance receivables of bulk shipments. By reducing the process costs and providing immutable data, AZHOS enables financial institutions to enter a new market of previously unfinanceable assets. Therefore, process costs for financing are lowered and margins increased.
Building on IoT sensors, consumption is measured and the order automatically triggered. Consecutively the payment will be settled and the receivables autonomously financed. To sum up, AZHOS is automating the process of ordering goods, creating invoices, settling payments as well as financing assets.