Chainyard is the recipient of the Institute of Supply Chain Management (ISCM) 2021 award in the category of Best Procurement Technology for our solution Trust Your Supplier! Learn more
Chainyard is the recipient of the Institute of Supply Chain Management (ISCM) 2021 award in the category of Best Procurement Technology for our solution Trust Your Supplier! Learn more

Challenges

  • The way Buyer is requesting and receiving data is not secure (example: Bank information is not received through a secure channel and not executing additional validations)
  • No constant monitorization of supplier information
  • The data accuracy is the responsibility of the respective category manager and the time spent is too high and unproductive

How TYS Helps

  • TYS AI tools provide real-time, continuous, external AI updates on suppliers
  • Up-to-date and accurate information, any changes are alerted to the buyers based on configurable rules
  • Evolving third party attributes augment the supplier profile for a holistic view
  • Reduces the effort of the category manager as the responsibility of the data update is inputted to the supplier

Outcomes

  • Ensure existing supplier data is maintained, updated, and accurate
  • Provide market, media, and other external narratives and commentary to constantly monitor news regarding supplier
  • Document Management - Expiry Notifications to Buyer/Supplier

Roadmap Horizon

  • Liaison Management
  • Revalidation and Republishing
  • TYS re-verifies the data provided by ecosystem partners at regular intervals
  • Depending on Governance Board direction, additional features related to SRM may be added to the Roadmap