Our innovative approach of providing integrated business partner information for procurement teams into the supplier discovery and onboarding process has been highlighted in this fantastic article by Cottrill Research. Read the full article here.

by April Harrison
A trusted supplier identity is the keystone of our Trust Your Supplier (TYS) platform. TYS provides organizations a trusted exchange of information across an encrypted blockchain environment to minimize risk & fraud throughout the onboarding and life cycle of partnerships. Our value proposition relies on ensuring identity control and privacy for network participants.
The exchange of information is crucial to business operations in all industries. Conventional systems are open to fraud, error and inefficiency. These manual processes lack data security and each participant has their own separate database, or ledger — increasing the possibility of human error or fraud. Shared databases cannot prevent malicious activity. Hacked entities can corrupt or destroy data in the shared database, making it invalid for everyone involved.
Blockchain is designed for trust and secure trading, reducing vulnerabilities. It provides clear provenance and a single, shared, tamper-evident ledger. Once recorded, transactions cannot be altered. This is ideal for supporting auditing capabilities as it provides an immutable relationship history between parties.
The TYS supplier profile data is sovereign, owned & controlled by the supplier, who can selectively share additional profile information with companies they choose to connect with on the network.
This single, digital identity for suppliers can be shared with multiple buyers and business networks. A 2-tiered supplier profile approach allows suppliers to be discovered by new customers without handing over unlimited access to their data.
To learn more about this innovative new approach to supplier identity that is transforming supplier relationships, please visit www.TrustYourSupplier.com
Nokia, a leader in the telecom industry, has announced the availability for their suppliers to transition to Trust Your Supplier as part of their digital strategy. By adapting TYS, Nokia aims to improve and expedite Nokia’s supplier qualification, validation, & life-cycle information management. Sanjay Mehta, Nokia’s VP Mobiles Networks Strategy talks about how TYS will be a game-changer for Nokia in this video.
By joining TYS, Nokia’s suppliers will benefit by eliminating manual repetitive process, experiencing an acceleration of qualification & onboarding processes, and gain the potential for new business opportunities.
“Working with IBM and Chainyard on this blockchain initiative represents a great opportunity for Nokia to further enhance our suppliers’ experience and optimize the onboarding process,” said Sanjay Mehta, Vice President Mobile Networks Strategic Sourcing, Nokia. “Using the latest technology to address a classical challenge will be of benefit for everyone, and further increase the speed of using innovative solutions.”
Trust Your Supplier values this partnership and welcomes Nokia, along with their suppliers, to the TYS network.
Learn more at www.TrustYourSupplier.com/Nokia
Congratulations to Nokia, IBM, Schneider Electric, General Motors and American Express on being honored on the 2021 World’s Most Ethical Companies list! We are proud to have you as #TrustYourSupplier partners.