What does it cost, and what can it save you?

Structured vs. Unstructured data

What does it cost, and what can it save you?
How authentication enables automation
Privacy and security
What does it cost, and what can it save you?

About This Lesson

The ability to authenticate your documents is nice, but the real benefit to your organization is the automation that authentication enables.

And Ii only costs one cent. That is the cost to record the hash of a document or contract across all the nodes of the Integra Ledger blockchain. That’s it. And there is no cost to query Integra to confirm document and contract authenticity. No subscription fee, no fine print.

What do you get for one penny?
A document or contract that is authenticated can be automated. And if you have a lot of documents and contracts, the savings can be millions of dollars.
Millions. Maybe more. Across your organization, how much time is spent entering invoices, filing documents, entering contract information, and that sort of thing? You probably have enterprise software that automates processes after you have entered the information, but how much time is spent entering the information in the first place?

A document arrives by email. Someone has to open it, and read it, and then save it to the right place or forward it. If it’s an invoice, then someone has to enter it into an accounting system. If it’s a contract, then someone has to enter the details into a contract management system. The hours add up.

And how many documents, contracts, and invoices do you process a year?
OK, say one thousand. And let’s say each one requires six minutes of attention, and the average labor cost is $50 an hour - a blend of administrative support and executive time. Those six minutes thus cost $5 of staff time and attention.

So, $5 times one thousand documents equals five thousand dollars in potential savings. And if it only cost one penny to hash each of those thousand documents, then your cost was $10. So, spend $10, save $5,000.

“A penny saved is a penny earned.” In this case it’s more like, “A penny spent on Integra is $5 earned”.
Of course, many documents require much more than 5 minutes of manual processing time. Some complex contracts can require an hour or more of administrative time to enter them into corporate systems.
So, "A penny spent on Integra could be $100 earned".

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