Trust Your Supplier (“TYS”) is a blockchain application that hosts a network of suppliers and customers who exchange validated, current, and trusted information about their businesses. TYS allows suppliers to maintain a trusted digital identity and permission that information to a vast network of partners.
A profile is simply the way TYS collects and groups your data to present to a buyer. This can be most easily visualized from your Supplier Profile in the TYS application, which consists of all your firmographic information and questionnaire answers. This profile is necessarily specific to the business and country it is being operated in, and TYS is designed to accommodate organizations with multi-entity relationships, subsidiaries, parent companies, and a multi-national presence. Companies such as this typically require multiple profiles for each country or entity. Each of these profiles is included in the cost of your subscription, so you can create as many as needed at no additional cost.
The core of the TYS network is the relationship between buyers and suppliers. We refer to this relationship as a “connection”. A connection is formed when a buyer (typically a procurement organization) extends an invitation to a supplier and the supplier accepts this invitation. The act of acceptance informs TYS that a connection between the two parties has been made. Suppliers can (and should) connect to many buyers as this enhances the value to the supplier.
TYS Buyers consist of a multitude of companies across technology, telecom, pharma, beverage and manufacturing industries. New buyers are continually joining the network. Some of our governing board and founding member logos are on our home page.
Trust Your Supplier is a network platform that will help both buyers and suppliers manage business profile information in their business relationship in a dynamic, efficient and secure environment. The key value for suppliers is a singular profile that is selectively sharable amongst customers and potential customers on the network. Suppliers no longer have to repetitively provide similar detail to each customer and the supplier protects their privacy by deciding who they share their profile with. Profiles are maintained in a secure blockchain platform which allows for fast and permissioned sharing. TYS is designed to integrate with multiple business networks like Ariba. This will allow individual suppliers the opportunity to better maintain data with their current client relationships and increase their speed to revenue with new clients by having an easy to share digital identity.
Suppliers will be asked to provide the following: firmographic information about their business (address, contact info, type of business, SPSC codes, etc.); a basic financial history (optional); location information; tax documents and other certifications (i.e. diversity documents); answers to a series of questionnaires on topics such as ethics, compliance, security, and other specifics regarding the business).
Blockchain is by nature immutable and technically data can never be deleted once written. Data is referenced by an encrypted secure set of keys. If a request is made to delete this data, these secure keys can be deleted, rendering the data on the blockchain irretrievable and essentially permanently forgotten.
Trust Your Supplier works best on Google Chrome and Mozilla Firefox. We recommend using the latest versions of these browsers for the best performance. Edge is also supported. Please note that TYS does not support any versions of Internet Explorer (IE).
By joining TYS you will recognize revenue faster by reducing the time to your first transaction. You will also eliminate redundant work and reduce costs, be discoverable across the TYS network, have a singular digital identity to share in real time with all your customers on the network, open doors to new business opportunities, and be trusted on TYS as a verified supplier.
In the simplest terms, a blockchain is a time-stamped series of immutable records of data, managed by a cluster of computers not owned by any single entity. Each of these blocks of data (a block) are secured and bound to each other using cryptographic principles (a chain). The blockchain network has no central authority — it is the very definition of a democratized system. Blockchain is the technology most associated with Bitcoin and other cryptocurrencies but this is a different application of that model, being in a business to business space and on a private network.
Immutable means unchangeable. Once records are written to the blockchain they are saved and can never be altered. Changes are recorded in a completely new record so there is auditability of exactly what was changed, when it was changed, and who changed it.
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