Trust Your Supplier creates a digital passport to identify a supplier on a blockchain network, which allows suppliers to exchange information with any permissioned customer. The blockchain technology provides a permissioned access to a shared database. This helps to reduce time and costs related to new suppliers qualification and opens up new business improvement opportunities for suppliers and buyers. The network gives access to third-party validators, such as
Dun & Bradstreet,
Ecovadis and
RapidRatings to provide outside verification or audit.
Trust Your Supplier also allows you to connect existing procurement business networks, transferring the necessary data required for contracts and accounts exchange, without the need to enter this data into several systems simultaneously. The IBM Supply Chain Business Network cloud system, which brings together multiple supply chain participants, connects to Trust Your Supplier using an open API to access existing verified supplier information. The Trust Your Supplier platform is built on the IBM Blockchain platform hosted on IBM Cloud
The platform allows you to accelerate and automate access and information management and serves as a reliable source of identification data.
Currently, more than 18,500 suppliers worldwide use IBM services, and in the near future the company plans to connect 4000 of its suppliers from North America to Trust Your Supplier.