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Beyond Compliance: Future-Proofing Your Supplier Network for ESG & Risk Challenges

Strong supplier compliance isn’t just about meeting regulations—it’s about protecting your business, your reputation, and your bottom line. Companies are under increasing pressure to ensure their supplier networks align with ESG standards, ethical sourcing practices, and evolving regulations. Yet, many struggle with fragmented data, manual processes, and limited visibility into supplier risk. 

The Compliance Challenge: A Shifting Landscape

Regulatory requirements are surging worldwide, covering areas such as: 

  • Environmental & Sustainability Standards (e.g., carbon reporting, deforestation laws) 
  • Data Privacy & Security (e.g., GDPR, cross-border data regulations) 
  • Anti-Bribery & Corruption (e.g., FCPA, UK Bribery Act) 
  • Labor & Employment Laws (e.g., fair wages, modern slavery acts) 

With ESG regulations alone increasing 155% since 2011*, businesses must adopt proactive compliance strategies to avoid reputational risks, supply chain disruptions, and financial penalties. 

Rethinking Supplier Compliance: A Smarter Approach

Traditional compliance methods rely on manual audits, periodic reporting, and static assessments. But to future-proof supplier networks, organizations need real-time insights, automated workflows, and AI-driven risk mitigation. 

Here’s what an effective compliance strategy should include: 

  • End-to-End Supplier Lifecycle Management – From discovery to onboarding, continuous compliance tracking ensures suppliers meet evolving requirements. 
  • Automated Risk Assessments – Dynamic questionnaires and AI-powered risk scoring streamline supplier evaluations. 
  • Integrated ESG & Risk Data – Seamlessly incorporating third-party risk intelligence enables more informed decision-making. 
  • Predictive Alerts & Workflow Automation – Proactively assigning compliance actions prevents potential violations before they escalate. 

From Obligation to Competitive Advantage

For many organizations, compliance is seen as a regulatory burden—an obligation that must be met to avoid fines or reputational damage. However, forward-thinking companies are shifting their perspective. Strong compliance and sustainability practices don’t just mitigate risk; they open doors to new business opportunities, strengthen supplier relationships, and enhance brand reputation. 

To turn compliance into a strategic advantage, businesses need the right tools—ones that simplify processes, provide predictive insights, and enable proactive decision-making. 

How Trust Your Supplier (TYS) Enables Seamless Compliance & Risk Management

With TYS, you gain the tools to proactively manage supplier compliance, mitigate risks, and streamline your supplier life cycle. TYS ensures that compliance is not just a checkbox—but a catalyst for resilience and growth. By leveraging our advanced analytics, real-time monitoring, and integrated risk data, you can stay ahead of regulatory changes, protect your brand reputation, and drive long-term resilience.  

Ready to take control of your supplier compliance? Reach out to learn more about how TYS can help you transform your approach and safeguard your business today. 

*Gartner, How Regulatory Complexity Will Shape the Future of Procurement, 2024 

April Harrison Blog, ESG, Risk & Compliance 0 Comments , , , ,

Germany’s Supply Chain Due Diligence Act: What Suppliers Need to Know

The Lieferkettensorgfaltspflichtengesetz (LkSG)—or German Supply Chain Due Diligence Act (SCDDA)—is now in effect, requiring companies with offices in Germany to conduct strict due diligence on their supply chains to protect human rights and the environment.

If your business is a supplier to German companies, you may already be receiving compliance requests. Understanding what’s required and how to respond effectively is key to maintaining partnerships and positioning your business as a trusted, responsible supplier.

How Does LkSG Impact Suppliers?

Under the law, German companies must ensure that their entire supply chain—including direct and indirect suppliers—meets due diligence standards. Suppliers may be asked to:

✅ Provide compliance documentation on human rights and environmental protection
✅ Demonstrate risk management processes to address potential violations
✅ Undergo audits or assessments as part of ongoing due diligence
✅ Implement corrective actions if risks are identified

How Suppliers Can Prepare

  • Assess Your Current Practices – Review your policies on labor rights, environmental impact, and supplier management.
  • Ensure Transparency – Keep compliance records up to date and ready to share with German buyers.
  • Leverage Digital Compliance Tools – Platforms like Trust Your Supplier (TYS) help suppliers centralize documentation and respond efficiently to due diligence requests.

Need help navigating LkSG compliance? Download our supplier guide for actionable insights on meeting buyer expectations and strengthening your compliance strategy.

April Harrison Blog, Insights for Suppliers

Navigating DORA Compliance: What Suppliers Need to Know to Support Financial Institutions

“In the financial services arena, compliance isn’t just a mandate or a regulation – it is a commitment to trust and resilience.”  ~Sri Gopinath, TYS VP of Customer Success, Delivery & Professional Services 

The European Union’s Digital Operational Resilience Act (DORA) is now in effect, bringing a significant shift in how financial institutions manage risk and compliance. But DORA isn’t just about internal operations—it extends to suppliers and third-party service providers. For suppliers, understanding and aligning with DORA is essential for maintaining trust and building successful partnerships with financial institutions. 

Financial entities, including banks, investment firms, and insurance providers, are required under DORA to ensure operational resilience across their supply chains. This means suppliers play a critical role in helping these institutions meet compliance obligations and minimize risks. 

Why Suppliers Must Pay Attention to DORA

DORA requires financial institutions to take a closer look at the suppliers they depend on, especially those providing critical services such as IT infrastructure, cybersecurity, regulatory reporting, and data management. Suppliers who fail to meet the standards set by DORA may face challenges in securing or retaining contracts with financial entities. 

Key areas of focus for suppliers include:

  • Demonstrating Operational Resilience: Suppliers must show that they have robust systems, disaster recovery plans, and cybersecurity measures in place to mitigate risks. 
  • Meeting Compliance Requirements: Suppliers need to align with the operational resilience expectations of their financial clients, as specified in DORA. 
  • Maintaining Transparency: Continuous monitoring and open communication with financial clients about risk and compliance are essential. 

How Suppliers Can Prepare for DORA

To align with DORA requirements and meet the expectations of procurement organizations, suppliers should:

  1. Assess Your Current Compliance Posture: Review your operational resilience strategies, cybersecurity policies, and disaster recovery plans to ensure they align with the expectations of financial institutions under DORA. 
    • Cybersecurity Policy 
    • Disaster Recovery Plans 
    • Sustainability Plans

  2. Strengthen Your Internal Processes: Implement systems for regular audits, risk assessments, and compliance tracking. Demonstrating that these processes are in place will build confidence with financial clients. 
  3. Be Ready for Continuous Monitoring: Financial institutions will require ongoing oversight of supplier compliance. Ensure you have tools and protocols for providing necessary updates, audit responses, and risk assessments in real-time. 
  4. Develop Clear Incident Response Plans: Outline protocols for quickly addressing disruptions or breaches. Financial institutions will expect suppliers to have actionable contingency plans to minimize downtime and operational impact. 
  5. Leverage Technology: Digital platforms like Trust Your Supplier (TYS) can help suppliers manage and communicate their compliance efforts effectively. 

What Procurement Organizations Will Look For

Procurement teams at financial institutions will assess suppliers based on:

  • Criticality to Operations: Suppliers providing essential services will undergo stricter scrutiny. 
  • Compliance Transparency: Procurement teams will look for suppliers who can provide clear evidence of their compliance efforts, including regular updates and documentation. 
  • Proactive Risk Management: Suppliers with robust risk management processes, such as cybersecurity measures and disaster recovery protocols, will have a competitive advantage. 

How Trust Your Supplier (TYS) Supports Suppliers

Trust Your Supplier (TYS)  is here to help suppliers streamline compliance processes, improve visibility, and ensure readiness to meet client and regulatory expectations. Here’s how we support your success: 

  • Centralized Compliance Management: Keep your compliance documentation, certifications, and responses to regulatory questionnaires in one place, ensuring you’re always prepared to meet client expectations. 
  • Visibility to Financial Institutions: By maintaining an up-to-date TYS digital wallet, you provide financial clients with immediate access to the information they need to evaluate your compliance and resilience. 
  • Stronger Client Relationships: Demonstrate your commitment to compliance and transparency by actively managing your digital wallet. This not only supports client trust but also positions you as a reliable partner in navigating regulatory challenges. 

By keeping your TYS digital wallet current, you stay ahead of evolving regulatory demands, building trust and enhancing your value to financial institutions. 

Building Resilience for the Future

DORA presents an opportunity for suppliers to strengthen their compliance frameworks and position themselves as trusted partners for financial institutions. By aligning with DORA’s requirements, suppliers can enhance their operational resilience, improve transparency, and build long-term relationships with procurement teams. 

As DORA compliance becomes a priority for financial institutions, it’s essential for suppliers to proactively manage their risk and compliance data. By keeping your Trust Your Supplier digital wallet up to date, you ensure that financial clients can see your commitment to operational resilience and regulatory adherence. 

April Harrison Blog, Insights for Suppliers 0 Comments , ,

Trust Your Supplier Achieves Fifth Consecutive SOC Certification, Reinforcing Commitment to Security and Compliance

In an era where data security and privacy are paramount, organizations must continuously uphold the highest standards of cybersecurity and compliance. Trust Your Supplier (TYS) is proud to announce the successful completion of its SOC 1 and SOC 2 Type 2 examinations for the fifth consecutive year—with no exceptions. This achievement underscores TYS’s unwavering commitment to securing sensitive data and maintaining the integrity of its platform for all participants.

Why SOC Compliance Matters
System and Organization Controls (SOC) examinations are rigorous audits designed to evaluate a company’s ability to safeguard customer data. Conducted by A-LIGN, a trusted technology-enabled security and compliance firm, these examinations assess internal controls related to security, availability, processing integrity, confidentiality, and privacy.

SOC 2 compliance is particularly critical for businesses handling sensitive data, as it provides assurance that an organization has implemented effective policies, procedures, and controls to mitigate risks. Unlike traditional cybersecurity assessments that focus on specific technical configurations, a SOC 2 report evaluates how an organization as a whole addresses and manages security-related risks.

TYS’s Ongoing Dedication to Security
As a trusted provider of supplier information management solutions, TYS undergoes SOC 1 and SOC 2 audits annually. These evaluations ensure that our platform meets industry-leading security and compliance standards in areas such as:

  • Information Security – Protecting customer data from unauthorized access and threats.
  • Access Control – Ensuring only authorized users can interact with sensitive information.
  • Supplier Management – Enabling verification that third-party partners uphold stringent security measures.
  • Business Continuity & Disaster Recovery – Maintaining operational resilience in the face of disruptions.
  • System Backup & Data Integrity – Ensuring data availability and protection against loss.

Accessing SOC Reports
TYS remains committed to transparency and security by providing its SOC reports to current clients upon request and potential clients under a non-disclosure agreement.

By consistently achieving SOC 1 and SOC 2 compliance, TYS continues to build trust with its partners, reinforcing our mission to provide a secure, reliable, and compliant supplier management ecosystem. Please contact us if you are interested in learning more about how TYS ensures data security and compliance.

Learn more about TYS’s stringent data security standards.

April Harrison Blog, Data Privacy & Security, News 0 Comments ,

Introducing TYS Connect: A Smarter, More Intuitive Supplier Portal

TYS Connect introduces a sleek, user-friendly design that empowers suppliers to manage their profiles, update documents, and connect with your procurement, risk, and compliance teams in a more streamlined way. This new portal simplifies processes, creating a smoother workflow for everyone involved.

For Suppliers:
TYS Connect provides faster navigation and profile management, making it easier for suppliers to update their information quickly. It also streamlines processes, reducing delays and accelerating transactions, which leads to a more efficient experience for all parties.

For Procurement, Risk, and Compliance teams:
With these improvements, suppliers now have an easier, more intuitive platform that enhances collaboration, reduces friction in communications, and accelerates transactions. This results in a smoother workflow for procurement teams, allowing them to focus on strategic goals while the supplier experience is handled more efficiently.

A New Era of Supplier Collaboration

The launch of TYS Connect marks an exciting step forward in simplifying and strengthening supplier relationships. As the business landscape becomes increasingly digital, it’s more important than ever to ensure that procurement teams and suppliers can work together seamlessly. With TYS Connect, suppliers now have a platform designed to make their experience easier, while procurement teams benefit from streamlined processes that help them drive efficiency and value across the supply chain.

April Harrison Blog, News 0 Comments ,