Auditing B2B Transactions via Blockchain: Transparency for Digital Procurement and Gifting

Authors: Nitya sri Nellore

DOI: https://doi.org/10.37082/IJIRMPS.v13.i3.232603

Short DOI: https://doi.org/g9q35v

Country: USA

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Abstract: The increasing reliance on digital solutions for B2B procurement and gifting processes presents significant challenges in ensuring transparency, compliance, and efficiency in auditing practices, particularly within regulated industries such as healthcare, finance, and pharmaceuticals. Traditional auditing mechanisms, reliant on centralized databases and manual oversight, are increasingly inadequate in addressing the scale and complexity of modern business operations. This paper proposes a blockchain-based auditing framework for B2B transactions in digital procurement and gifting. By leveraging blockchain’s immutable, decentralized, and transparent nature, the proposed solution enhances real-time transaction tracking, regulatory compliance, and fraud prevention. We introduce a lightweight blockchain architecture, utilizing smart contracts and scalable consensus mechanisms, to ensure operational efficiency while addressing the specific needs of highly regulated industries. A case study in the pharmaceutical sector illustrates the practical application and benefits of this framework, highlighting its ability to streamline compliance, reduce fraud risk, and improve audit efficiency.

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Paper Id: 232603

Published On: 2025-06-23

Published In: Volume 13, Issue 3, May-June 2025

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