Trust Your Supplier
What is Trust Your Supplier?
Procurement challenges arise when the sources used to search for new suppliers don’t provide any kind of information security and there is inaccuracy in the contact details. There is a lack of real-time information updates and multiple reports & sources are needed to access the information. The way procurement organizations are requesting and receiving data is not secure and there is no standardization across industries.
Additionally, there is no strong engagement with suppliers, understanding changes occurring with the supplier, and communicating new buyer needs and priorities. This leads to procurement teams spending a huge amount of time searching to understand the supplier's identity.
The constantly changing landscape challenges an organization's ability to manage risk & compliance programs. Frequent roadblocks include: evolving regulations, policies, and guidelines that drive complexity and churn, disparate sources of information, a lack of regulatory and industry standards, and a “Swivel Seat” effect with numerous contracts to access multiple authoritative content providers.
Trust your Supplier (TYS) is a software-as-a-service supplier information network for managing all aspects of supplier lifecycle - from discovery and qualification to onboarding and monitoring. TYS allows organizations to leverage advanced insights, accelerated supplier onboarding, and trusted exchange of information across an encrypted blockchain environment.
