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.
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.
Suppliers can join TYS by being invited by a company that is already on the network as a buyer. If your buyer is not on TYS, have them contact us to join.
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).
This information is used by the buyer to evaluate and qualify the supplier. Only buyers the supplier authorizes will have access.
No, buyers connected to your profile cannot see the connections you have to other buyers; those relationships are private. This is enabled through the blockchain, where you permission an individual buyer to see your profile. Once connected, a buyer may see a badge or profile status that indicates another buyer has onboarded you but they will not know who that buyer is.
Digital keys enable you to share your single TYS profile with customers not on the TYS network. Since customers often require the same information, digital keys reduce your administrative workload. Updates to your profile, such as W-9s, are automatically shared with TYS and Digital Key buyer connections. You can update your information once and share with many. To set this up, navigate to "Digital Keys" from the left menu and follow the instructions.
Yes, please contact Chainyard to establish an account as a buyer. Email us at [email protected]
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).
TYS is now available for supplier onboarding in dozens of countries. Please see Globalizations for the full list.
Our full list of languages for supplier users can be found on our Globalizations page. Only English is supported for buyers at this time.
Currently there are no subscription fees for suppliers on the TYS network. Registration is free and there are no hidden fees or tiered pricing.
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. Please visit our Blockchain page for more information.
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.
We are happy to answer any questions you might have. Reach out to our support team via email at [email protected]