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

  • 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