Authenium, a scalable blockchain-based smart contract platform, and Autsorz an outsource management application have successfully <a href="https://www.prweb.com/releases/autsorz_and_authenium_complete_the_worlds_first_smart_contract_based_payroll_and_invoice_generation_for_outsourcing_service_providers/prweb17638184.htm" target="_blank" rel="nofollow noopener">executed</a> the world’s first smart contract-based payroll for outsourcing business. Both the platforms have also deployed a smart-contract-based invoice generation system. Autsorz is currently deploying the new system for 54 providers with over 315,000 workers. Some of them belong to the banking, telecommunication, hotel, tourism, airline, airport, and real estate management industries.
<h2>World’s First Smart Contract-Based Payroll and Invoice Generation</h2>
The system works by Autsorz’s mobile app inputting the workforce logs into the blockchain system. The virtual machines working through smart-contracts will then generate <a href="https://www.cryptoknowmics.com/news/are-smart-contracts-changing-the-business-world-applications-of-smart-contract-in-business-sector/">payroll</a> and invoices based on individual contracts.

The logs feature blockchain’s immutability and tamper-proof contract <a href="https://www.cryptoknowmics.com/news/why-smart-contracts-are-so-important-in-blockchains/">algorithms</a> while guaranteeing fairness and transparency for everyone involved. The smart contract platform will also alert regarding potential frauds pertaining to logging of time, place, vehicle or equipment use, and expense.

In the announcement release, Denny Sambas, a three-decade HR operations expert and outsourcing specialist highlighted the problems faced by the outsourcing industries:

“When you have a hundred clients, you have a hundred HR systems to execute. Heterogeneity, sheer complexity, tedious maintenance, and high IT costs are major operational problems to outsourcing providers.”

Sambas further added that Autsorz can fix the issues of the outsource community:

“Autsorz is adaptable. Administrators or analysts can easily create and customize contracts, invoices, payroll, even screens on everyone’s mobile app. Administrative operations are streamlined.”

Autsorz comes as a rescue for the outsourcing communities given the higher costs of automation being significantly reduced by Authenium’s automatic smart contracts.
<h2>Combining the Best of Authenium and Autsorz</h2>
Authenium is a decentralized-based smart contract application platform that includes <a href="https://www.cryptoknowmics.com/news/future-outlook-of-blockchain-technology-possible-predictions-by-experts/">blockchain technology</a>, pBFT-derivative consensus algorithms, and proprietary high-speed synchronization technologies. The platform can host billions of users while assuring their privacy and data security.

Autsorz is an outsourcing management application that streamlines administrative operations between the service providers, clients, and the workforce. The app features fully automated invoicing, real-time approval and communication, and a suite of productivity tools specifically for outsourcing management.

Autsorz, Authenium Executes World’s First Smart Contract-Based Payroll

Authenium and Autsorz has successfully executed the world’s first smart contract-based payroll generation for outsourcing companies.

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

Autsorz, Authenium Executes World’s First Smart Contract-Based Payroll

Top Picks