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Celebrating World Telecommunications Day!

Innovation thrives on collaboration. This #WTISD, we celebrate the power of collective, multi-stakeholder initiatives to drive digital innovation for the prosperity of all. 

At Trust Your Supplier, we’re proud to partner with forward-thinking companies like BT Sourced, who “Source for a better future.”  

“BT Sourced is committed to driving positive change in the telecommunications industry, and our partnership with Trust Your Supplier amplifies our efforts to create a sustainable supply chain for generations to come.” – Cyril Pourrat, CPO, BT Group

Learn more from Melissa Reddy, who leads Risk and Sustainability at BT Sourced, on our podcast, “Sustainability Strategies to Empower Teams & Suppliers”. Watch Now  

Learn more about WTISD 2024

#WTISD2024 #Sustainability #SupplyChain #Partnership #Telecommunications #SustainableSourcing #EthicalSourcing   

April Harrison Blog, ESG, Telecom 0 Comments ,
Dr. Epstein's Spider Map Highlighting TYS

TYS Remains Focused on Innovation and Value

We are thrilled to announce a significant achievement for Trust Your Supplier (TYS) – our continued positioning at the center of Dr. Elouise Epstein’s latest Spider Chart. In a landscape characterized by continual innovation and creativity, TYS stands resiliently at the center, demonstrating our unwavering commitment to excellence in procure tech.

At Trust Your Supplier, we recognize the evolving nature of supplier and risk management within the procurement sphere. Leveraging the transformative capabilities of blockchain technology, our platform offers a comprehensive suite of solutions designed to optimize supplier relationships and mitigate risks effectively.

Our distinguishing features encompass real-time monitoring, comprehensive historical data analysis, and forward-looking predictive insights. By integrating these elements into our platform, we empower enterprises of varying scales to operate with heightened transparency, efficiency, and risk resilience.

As proponents of progress within the procurement sector, TYS is dedicated to pioneering advancements that redefine industry standards. From empowering mid-sized enterprises to supporting multinational corporations, our blockchain-based solution catalyzes transformative change across diverse organizational landscapes.

Yet, our journey is far from over. With each milestone achieved and accolade earned, Trust Your Supplier remains steadfast in our commitment to driving innovation and fostering positive change within procurement.

We extend our sincerest gratitude to our esteemed partners, stakeholders, and industry peers for your continued support and collaboration. Together, we are forging ahead, challenging conventions, and shaping the future of procure tech with integrity and ingenuity.

Stay informed as we embark on this journey of progress and innovation. 

April Harrison Blog, News 0 Comments
Thumbnail of podcast with guest photos.

TYS Podcast S2E6 – Sustainability Strategies to Empower Teams & Suppliers

In our TYS Podcast episode, Sustainability Strategies to Empower Teams & Suppliers, we spoke with industry leaders from global organizations, delving into the intersection of sustainability, supply chain management, and the global economy. 

TYS’s Michelle Armstrong sat down with Lazar Armianov from EcoVadis, Melissa Reddy from BT Sourced, and Alyssa Caddle from Thermo Fisher Scientific, and at the heart of our discussion was the concept of sustainability and its significance in today’s business landscape. From education and compliance to technology and geopolitical challenges, our guests shared valuable insights into the multifaceted nature of sustainability within supply chains. 

One key takeaway was the importance of education and awareness, not only within our organizations but also among our suppliers. By ensuring that all stakeholders understand the importance of Environmental, Social, and Governance (ESG) criteria, we can foster a culture of sustainability that extends beyond borders and generations. 

Another focal point of the conversation was the need for collaboration and transparency throughout the supply chain. As companies navigate new global regulations and geopolitical shifts, it’s essential to prioritize ethical sourcing and supply chain integrity. 

Technology also emerged as a powerful tool in driving sustainability efforts. From AI to cybersecurity, our guests highlighted the role of innovation in creating more efficient and environmentally friendly supply chains. 

Based on the rich discussion, here are actionable insights for listeners: 

  • Prioritize education and sustainability initiatives within your organization 
  • Proactively address climate change and compliance challenges 
  • Embrace AI and digital technologies for risk management and supplier experience enhancement 
  • Foster supplier diversity and engagement for long-term sustainability 
  • Strike a balance between compliance and sustainability goals for impactful supply chain management 

As we look ahead, the path to sustainability will require ongoing collaboration, innovation, and a shared commitment to responsible business practices. By leveraging the insights shared in this episode, we can pave the way for a more sustainable future for generations to come. 

April Harrison Blog, ESG, Pharmaceutical, Podcast, Telecom 0 Comments , , , ,

TYS Podcast S2E5 – Empowering Equality: Strategies and Insights for Advancing Gender Diversity

In our most recent podcast episode, we had the honor of speaking to Renee Ure, a pioneer in promoting gender equality. With over 25 years of experience in various leadership roles at IBM and Lenovo, Renee brings invaluable insights and experiences to the table.

Renee shares her journey, including the challenges and setbacks she encountered along the way. From defining success metrics to measuring progress through concrete KPIs, she provides practical strategies for promoting gender diversity and inclusion at all levels.

The significance of mentorship, sponsorship, and the role of male allies in driving female empowerment within organizations are also discussed.

We invite you to join us as we explore strategies and insights for advancing gender equality in the workplace. Let’s break down barriers and create a more inclusive future for all.

April Harrison Blog, Diversity, Podcast 0 Comments , , ,

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 ,