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The Evolving Landscape of Data Validation and Supplier Discovery: Human Expertise Meets AI

by Michelle Armstrong, TYS Global VP of Value Engineering

In the digital age, businesses seek efficiency and accuracy in their supply chain operations, particularly in supplier discovery and data validation. While Artificial Intelligence (AI) presents promising solutions, it is not a panacea. At Trust Your Supplier, we recognize the unique value of combining AI with the irreplaceable insights provided by in-country verifiers, ensuring that our clients receive the most reliable and contextually accurate data.

The Limitations of AI in Supplier Discovery
AI is powerful and capable of processing vast datasets to identify patterns and anomalies at speeds no human could match. However, its effectiveness is contingent upon the quality and structure of the data it processes. In regions with less standardized digital data or where legal constraints limit data accessibility, AI alone may falter, yielding less than optimal results.

The Human Element: In-Country Verifiers
At Trust Your Supplier, we enhance AI’s capabilities with the local knowledge and expertise of in-country verifiers. These professionals are fluent in the local languages and business practices and familiar with regional legal nuances that might affect data collection and validation. This human element ensures that the data you receive is accurate and fully compliant with local regulations.

Balancing AI and Human Insight
Incorporating in-country verifiers into our process addresses the gaps left by AI. For example, when supplier data changes—such as updates in tax IDs or operational addresses—our local experts can verify these changes promptly and accurately. This approach reduces the risk of outdated or incorrect data, a common issue when relying solely on AI, particularly in dynamic markets.

Looking to the Future
While AI continues to advance, reaching new heights of data processing capabilities, the path to perfection is long. At Trust Your Supplier, we are committed to staying at the forefront of technology while also valuing the indispensable human touch. Our blended approach prepares us for today’s challenges and also sets a robust foundation for integrating more sophisticated AI solutions in the future.

Why Trust Your Supplier?
Choosing Trust Your Supplier means opting for a service that understands the balance between technology and human expertise. Our clients benefit from a hybrid model that leverages the best of both worlds—cutting-edge AI backed by the critical oversight of seasoned professionals. This ensures not only the accuracy of the data but also its applicability and compliance, giving businesses the confidence to make informed decisions.

In the evolving world of supplier management, Trust Your Supplier stands out by offering an innovative and balanced approach. While AI is a powerful tool that will continue to improve, the current landscape requires a human touch to ensure the highest standards of data validity and reliability. Trust us to be your partner in navigating the complex, ever-changing world of supplier discovery and validation.

 

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April Harrison AI & Automation, Blog, Supplier Diversity, Value Engineering 0 Comments , , ,

Trust Your Supplier (TYS) Completes SOC Examinations for Fourth Consecutive Year

In the fast-paced landscape of business operations, the secure exchange of information stands as a cornerstone of success across all industries. Cybersecurity, confidentiality, and data privacy remain paramount concerns, particularly in the realm of document exchanges and data transfers. Trust Your Supplier (TYS), a flagship initiative under the purview of Chainyard, acknowledges the critical nature of these issues within its network of participants. To bolster this commitment, TYS and Chainyard proudly announce the successful completion of SOC 1 & SOC 2 Type 2 examinations for the fourth consecutive year with no exceptions, reaffirming its dedication to meeting the most stringent data security requirements.

The examination was conducted by A-LIGN, a technology-enabled security and compliance firm trusted by more than 4,000 global organizations to help mitigate cybersecurity risks.

What is SOC 2 report?
A SOC 2 report  addresses risks associated with the handling and access of data, and can be used by a variety of organizations of any size (e.g. SaaS, colocation, data hosting, etc.) Rather than a cybersecurity assessment that evaluates specific technical configurations, a SOC 2 report focuses more on how an organization implements and manages controls to mitigate the identified risks to the different parts of an organization.
The SOC 2 audit testing framework is based off of the Trust Services Criteria (TSC), which are used to identify various risks (points of focus) an organization should consider addressing. Based on the TSCs the organization selects to be in-scope, the third-party compliance and audit firm evaluates whether the organization has the appropriate policies, procedures and controls in place to manage the identified risks effectively.

In order to pass a SOC 2 examination and receive a letter of attestation successfully, it means an organization is addressing controls in areas such as information security, access control, vendor management, system backup, business continuity and disaster relief, and more.

Trust Your Supplier & Chainyard performs SOC 1 and SOC 2 audits on an annual basis and reports are available to current clients upon request and to potential clients upon execution of a non-disclosure agreement. If you are interested in viewing these SOC reports, please contact us.

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

TYS Podcast S2E4 – Unraveling the Global Tapestry of Politics, Economics, and Supply Chains

In this episode, we dive deep into the intricate web of global politics, economics, and supply chains, unraveling the complexities that shape the landscape of modern business. Join us as we explore pressing questions and uncover insights that shed light on the evolving dynamics of the global risk environment.

The volatile nature of today’s global political and economic climate reverberates across industries, making it imperative for supply chain and procurement professionals to stay vigilant. Every shift in geopolitics or economic policy can send ripples through the supply chain, impacting everything from sourcing strategies to operational efficiency.

So, why does this matter for supply chain and procurement? Simply put, businesses operate in a connected world where disruptions in one region can have far-reaching consequences. Whether it’s trade disputes, sanctions, or geopolitical tensions, these factors can disrupt supply chains, increase costs, and affect business continuity.

Tracking these issues requires a comprehensive approach, leveraging a mix of data sources, analytics, and expert analysis. By monitoring key indicators, companies can anticipate risks and identify opportunities, enabling proactive decision-making.

To gain deeper insights into these challenges, we asked the experts at Prism about the emerging trends in global politics and economics. Watch our conversation with them and read our blog, co-authored by TYS and Prism, on how the Swiss climate ruling reshapes supply chains and risk management.

April Harrison Blog, Data Privacy & Security, Geopolitical Issues, Podcast, Risk & Compliance, Supplier Information Management 0 Comments , , , , , ,

Navigating Geopolitical Shifts

How the Swiss Climate Ruling Reshapes Supply Chains and Risk Management

by Michelle Armstrong, TYS Global VP of Value Engineering and George Coe, Prism Cofounder & Partner

On April 9, 2024, a Swiss Court determined that the Swiss government had a legal obligation to combat climate change, based on European Human Rights Law. The case will have significant implications for ESG and supply chains. 

This adds to a wave of climate litigation, against both countries and companies, but stands as a landmark ruling due to the use of human rights law broadly, and the European Convention on Human Rights (ECHR) specifically, for which a precedent is now set for all 46 countries that are signatories. 

The implications go far beyond the direct ruling. TYS partner, PRISM, a geopolitical risk advisory firm, breaks down the issues for supply chain leaders to watch in three categories. 

Risk of rapid regulatory expansion: the ruling implies that governments have an obligation to take appropriate measures to meet their stated climate goals. Current policy in almost every country comes far short of stated climate goals, such as the Net Zero by 2050 targets set in most Western economies. Legal obligations to put in place policies that match stated goals would mean transformative new climate regulations that would require far larger changes to supply chains than current law. This could range compliance burdens like greater disclosures, but the ruling implies effort aimed more directly at cutting climate risk, making it more likely that direct supply chain costs would be imposed by policies that require renewables investments, more ambitious emissions reductions, reduction of high emissions imports, and other more fundamental changes. 

More countries: a range of other cases exist using human rights and other laws. Other countries, from France to Portugal to India and beyond must be watched for similar precedent-setting rulings that would expand the implications of this legal framework beyond Switzerland and the ECHR. 

Direct corporate lawsuits: the ruling accelerates the impact of climate litigation from activists, which has also been aimed directly at companies. It can be expected to boost efforts to sue companies directly for failures on climate change, creating financial risk to companies and their suppliers, if more lawsuits are successful. 

More broadly, the case could act as a catalyst for enhanced international cooperation. By framing climate action as a human rights imperative, it may lead to a concerted effort among nations to standardize environmental policies and regulatory frameworks, especially at a time when human rights and environmental goals are being pursued in tandem in supply chain regulations like the EU’s CSDDD. 

The case itself is a crucial moment in the use of litigation by climate activists, bringing together years of work at the intersection of environmental advocacy, human rights, legal strategy, and political dynamics. If a precedent has truly been set that expands to more countries, we can expect a rapid rise in transformative climate action, rather than just stated goals, in the coming years. 

Learn more about our TYS partner Prism.

Read more about the landmark Swiss case.

#TYS #Prism #ClimateLitigation #ESG #HumanRightsLaw #RegulatoryExpansion #CSDDD #Sustainability #GeopoliticalRisk 

April Harrison Blog, ESG, Geopolitical Issues, Risk & Compliance, Risk Management, Value Engineering 0 Comments , , , , ,

International Zero Waste Day

Tomorrow, March 30, is the International Day of Zero Waste—a time to consider the significant challenge of global waste production. Did you know? Every year, humanity generates between 2.1 and 2.3 billion tons of municipal solid waste, posing a severe threat to the health and sustainability of our planet.
Here at TYS, we are dedicated to helping organizations turn the tide against this crisis. Our team has shared ways in which they work toward zero waste, including:
    • Replant gifted potted plants so they can grow and flourish for years to come
    • Sew cloth napkins and paperless towels that they use to replace one-item use napkins and paper towels
    • Use glass or aluminum straws instead of plastic ones
    • Use bar soap instead of liquid soap that comes in plastic containers
    • Take reusable totes to the store for shopping
Our TYS solution and approach goes beyond supplier management; it’s about empowering businesses to align with their sustainability goals and make real change happen. Through our advanced blockchain-based solution, we promote ESG accountability, driving collaborative efforts toward a greener future.
This #ZeroWasteDay, let’s come together to support a more sustainable world. Explore how TYS tools can enhance corporate responsibility initiatives.  Learn more about the International Day of Waste.

#Sustainability #TYS #Blockchain #ESG #CorporateResponsibility

April Harrison Blog, ESG 0 Comments ,

April Harrison: Shining a Light on TYS and her Team

In the bustling corridors of Trust Your Supplier, amidst the whirlwind of innovation and collaboration, there exists a guiding light, a beacon of inspiration known as April Harrison. Hailing from the heartland of North Carolina, April graces our midst as the Director of Communications and Marketing, a role she embodies with unparalleled grace and unwavering dedication. 

With two precious souls to call her own and a devoted husband by her side, April weaves the tapestry of her life with threads of love, warmth, and boundless compassion. As the caretaker of Trust Your Supplier, she wears many hats with effortless elegance—a shining example of friendship, intellect, and unwavering commitment. 

April’s inquisitive mind and insatiable curiosity are the hallmarks of her character, guiding her on a journey of continuous growth and self-discovery. A mastermind of managing multiple tasks, she navigates the complexities of her role with poise and precision, her arms extending to envelop all those who seek solace and support in her embrace. 

Within the walls of Trust Your Supplier, April’s presence is akin to a gentle breeze on a warm summer’s day—a comforting reminder that no one walks alone. She nurtures her TYS family with the tender care of a devoted mother, ensuring that each member feels valued, heard, and empowered to thrive. 

Despite the challenges that have tested her resolve, April’s indomitable spirit shines brightly, illuminating the darkest of days with her infectious humour, unwavering sensitivity, and unyielding grit. Through the trials and triumphs, she remains steadfast in her commitment to excellence, her enthusiasm undimmed by the trials of uncertainty. 

Beyond the confines of her professional realm, April’s impact extends far and wide, touching the lives of all who are fortunate enough to cross her path. As a beacon of hope and inspiration, she leads by example, her weekly aerobics classes a testament to her unwavering dedication to community and connection. 

April’s journey is a testament to the transformative power of hard work, perseverance, and adaptability. Thriving in an industry where she had no prior background experience, she fearlessly embraces the unknown, continually challenging herself to stay ahead of the curve and lead her team to new heights of success. 

To our esteemed leader, confidante, and friend—April Harrison—we extend our deepest gratitude for the light you bring into our lives. Your unwavering commitment, boundless compassion, and unyielding determination inspire us all to reach for the stars and never settle for anything less than greatness. 

April Harrison Blog, Spotlight 0 Comments ,

Fatima Lacanlale: Empowering Teams and Inspiring Growth

In the dynamic world of business development and sales operations, Fatima Lacanlale stands out as a beacon of inspiration and leadership. With a career trajectory shaped by determination, resilience, and a passion for empowering others, Fatima’s journey from her roots in the Philippines to her current role as Global Head of Business Development at TYS is nothing short of remarkable. 

At Trust Your Supplier (TYS), Fatima plays a pivotal role in driving the business development team’s global initiatives while spearheading sales enablement and operations. Collaborating closely with the Chief Revenue Officer, account executives, marketing professionals, and business development representatives, she orchestrates strategies to propel the company toward its goals and grow the pipeline. 

Fatima’s path to sales enablement and leadership was forged through her innate love for people and her creative spirit. From her early days in retail to her tenure as a Business Development Representative in the tech industry, she honed her skills in communication and relationship-building. Today, as a leader at TYS, she leverages her expertise, passion for sharing best practices, and commitment to mentorship to nurture her team’s success. 

Behind Fatima’s journey to leadership lies the influence of a mentor who exemplified the qualities of a supportive and empowering leader. Through regular sync-ups, constructive feedback, and growth opportunities, this mentor instilled in Fatima the importance of resilience and continuous learning—a philosophy that continues to guide her leadership approach today. 

Fatima’s success can be attributed to her unwavering determination, insatiable curiosity, and relentless pursuit of excellence. Her ability to navigate challenges, including overcoming barriers of racism early in her career, reflects her resilience and determination to thrive in any environment. Each new opportunity has been a testament to Fatima’s commitment to personal and professional growth.

In the competitive business world, Fatima believes that women bring invaluable qualities such as empathy and preparedness to the table. Her advice to fellow women in business echoes her own journey: embrace mentorship, never stop learning, and remain true to yourself. She also recommends platforms like Chief for learning and networking opportunities.

Despite her demanding schedule, Fatima prioritizes self-care and mental well-being. Daily gym sessions, mindful eating, and regular painting sessions serve as outlets for rejuvenation and creativity. Her passion for painting, cultivated since childhood, not only provides solace but also serves as a reminder of the importance of pursuing passions outside of work.

When it comes to fostering a supportive environment for women in organizations, Fatima emphasizes the significance of compliments, regular syncs, and constructive feedback. By uplifting and empowering one another, women can create a culture of collaboration and growth.

Fatima Lacanlale’s journey is a testament to the transformative power of resilience, mentorship, and self-discovery. As she continues to inspire and uplift those around her, her impact extends far beyond the business realm—it resonates as a beacon of hope and empowerment for women everywhere. 

April Harrison Blog, Spotlight 0 Comments ,

Empowering Women in Technology: Aparna Amberkar’s Story

Get ready to be inspired by the incredible Aparna Amberkar, the Product Development and Delivery Manager at Trust Your Supplier! She is a powerful player in the tech industry and an innovator and inspiration to women looking to enter this field. 

Since her early days, Aparna has had a love for math that fuels her passion for technology. This love only grew stronger when she graduated from college with a focus on software development. Starting her career as a web developer, Aparna’s passion for blockchain and product development led her to her current position at Trust Your Supplier, where she plays a critical role in converting business requirements into actionable tasks for her team to implement. 

Throughout her career, Aparna has had to take a few breaks and switch gears, which has helped her achieve both her personal and professional goals. For instance, when her children were born, Aparna took a break from her career to focus on motherhood. Later, she switched from being a developer to a project manager. Her unique journey demonstrates the importance of being flexible and adaptable not only in your career but also in your life. 

Aparna is an outstanding leader, managing five global teams spanning India, the United States, and Vietnam, each with its own goals. She meets with each of them daily to discuss objectives, activities, problems, and solutions. Managing a global team has its challenges, but Aparna says it allows her to learn about different cultures and connect with people from various backgrounds. She even has Vietnam on her bucket list to visit one day! 

As a woman in the technology industry, Aparna is keenly aware of the challenges that women face in the field. One of the significant challenges she sees is the lack of women in leadership positions. Aparna believes that having more women in these roles is crucial to providing role models and mentorship opportunities for younger women. Companies should proactively recruit and retain women in technological roles by providing multiple opportunities, flexible work arrangements, and equal pay. 

Aparna’s journey is a testament to the importance of hard work, perseverance, and adaptability. Let’s celebrate the contributions of women like Aparna, who are paving the way for future generations of women in technology. So, if you’re a woman interested in technology, take inspiration from Aparna and never give up on your dreams. With hard work, dedication, and a passion for technology, you too can make a mark in this field!  

April Harrison Blog, Spotlight 0 Comments ,

Melissa Hansen, Technology and Business Translation Extraordinaire

Melissa Hansen’s entire career has been spent in that “space between” business and technology, acting as an interpreter and translator between the two disciplines. 

Melissa started her journey in business operations at Nortel during high school vocational training and eventually moved toward the IT side, where she has been ever since. She is currently the Client Integration Director and Solution Architect at Trust Your Supplier, a blockchain-based platform that helps to simplify and accelerate supplier onboarding, validation, and lifecycle information management for businesses. She started with the company on the client integration team and has since floated between managing clients, developing the TYS platform, and fulfilling executive tasks – helping bridge the divide between business and technology. 

Melissa credits the success of her career to finding ways to utilize her talents to best help whatever team she finds herself on. And although she has not experienced the glass ceiling in tech personally, she acknowledges its existence. She knows that she is lucky to have always worked with incredibly supportive male and female leaders throughout her career and that this is not the case for everyone.  

When asked about the future of women in the tech industry, Melissa has high hopes. She sees the role of women in the tech industry evolving in the next 5-10 years because she thinks that by encouraging young girls to pursue STEM programs, we can help build an even better, more inclusive workplace in the future. “Women bring so much value to the table in the tech industry,” said Melissa, “including a collaborative leadership mindset that implements respected ideas from all levels of an organization across diverse teams.” 

Melissa Hansen serves as an inspiration to all women in the tech industry. Her dedication to her craft, hard work, and ability to thrive in a male-dominated industry is a testament to the perseverance and talent of women everywhere. As we continue celebrating Women’s History Month, let us remember the importance of recognizing the achievements of women like Melissa, who pave the way for the next generation of female tech leaders. 

April Harrison Blog, Spotlight 0 Comments ,

Trust Your Supplier at EcoVadis SUSTAIN 2024

A Thankful Reflection and Path Forward

by Michelle Armstrong, TYS Global VP of Value Solutions Consultant

Last week, Trust Your Supplier (TYS) joined leaders in sustainability at EcoVadis SUSTAIN 2024, diving into the complexities of compliance and sustainable practices. We’re grateful to EcoVadis and all participants for a forum rich in insights and collaborative spirit.

Key Insights: Simplifying Compliance
The call for simplification in the face of growing regulatory complexities was loud and clear. Our blockchain-based solution’s role in streamlining compliance and fostering transparency across supply chains was more relevant than ever. This reinforces our mission to make navigating compliance easier for everyone.

Our Commitment to Guidance and Collaboration
The discussions at SUSTAIN 2024 have strengthened our commitment to providing innovative solutions and expert guidance. Emphasizing collaboration, we’re energized to work alongside industry peers and businesses to tackle sustainability and compliance challenges together.

Looking Ahead with Optimism
SUSTAIN 2024 was a powerful reminder of our shared goals for a sustainable future. Trust Your Supplier is dedicated to leading the charge in simplifying compliance, ensuring it’s a stepping stone rather than a hurdle. We thank everyone involved for the inspiration and look forward to continued collaboration.

As we move forward, let’s carry the momentum from SUSTAIN 2024 to create a sustainable, compliant world where businesses thrive together.

Interested in seeing how the EcoVadis integration works in TYS? Book a meeting!

April Harrison Blog, ESG, Events, Risk & Compliance, Value Engineering 0 Comments , , , , ,