Trust Your Supplier creates a digital passport for supplier identity on the blockchain network that allows suppliers to share information with any permissioned buyer on the network. Blockchain ensures a permissioned based data sharing network. This should help reduce the time and cost associated with qualifying, validating and managing new suppliers while creating new business opportunities among suppliers and buyers. Third-party validators, such as Dun & Bradstreet, Ecovadis and RapidRatings provide outside verification or audit capabilities directly on the network.
The Trust Your Supplier blockchain network can also connect existing procurement business networks by relaying necessary supplier data required for exchanging Purchase Orders and invoices, without the need for suppliers to enter it in multiple different networks and automating on-boarding process to those networks. The IBM Supply Chain Business Network can connect to Trust Your Supplier using open industry programming interfaces for access to existing verified supplier information.