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Learn more. about our SOC 1 & SOC 2 Type 2 certifications.

Challenges

  • No real-time information updates and no supplier contact accuracy
  • No strong engagement with supplier, understanding changes occurring with the supplier, and communicating new buyer needs and priorities
  • No database with supplier requests
  • No standardization across industries towards the questions asked to the supplier, generating repeated and unnecessary work by the supplier and buyer
  • Buyer spends a huge amount of time to search and understand the supplier identity: Who is the supplier, what are the parent companies?

How TYS Helps

  • New configurable questionnaires and standardization across industries
  • Supplier can provide real-time updates to reflect changes to their business
  • Buyer-Supplier relationship history tracked on blockchain with versioning
  • Bring Gleif (Global Legal Entity Identifier Foundation) will allow Buyer to immediately understand all legal identities that the supplier has. Will capture any identity that performs a financial activity

Outcomes

  • Real-time information and supplier contact and legal identities always updated
  • Better engagement with the supplier
  • Effort reduction in compiling all information from different sources

Roadmap Horizon

  • Document Management 
  • Expiry Notifications 
  • Liaison Management
  •  TYS re-verifies the data provided by ecosystem partners at regular intervals