PROCUREMENT AND PURCHASING – TRUSTED COLLABORATION THROUGHOUT THE ENTIRE SUPPLY CHAIN – ENSURING EASY AND COST-EFFICIENT SUPPLIER MANAGEMENT
The increasingly complex business world holds challenges for many small and medium-sized enterprises: Global markets have to be opened up, while at the same time customers are becoming increasingly demanding. In contrast, product complexity is growing, and product-related services are becoming more diverse and thus more labor-intensive.
To meet these challenges, companies need an efficient business partner management system: new partners must be integrated quickly into an existing network, while at the same time ensuring the sustainable maintenance of existing contacts. But even before the start of a collaboration, the exchange and verification of required supplier information needs a great deal of effort. Also, the ongoing maintenance of supplier data is crucial for quality and efficiency of procurement.
As a corporate network, TRUST&TRACE significantly reduces the time required for the integration of new business partners: Companies can quickly react to constantly changing customer needs using flexible, service-oriented solutions.
the following services for procurement teams:
- Maintain maximum control over your company master data: With Business Identity, your company’s data is securely stored and can be shared with business partners in a trusted manner. Only you have full access to your company data and can define with whom it is shared.
- Keep supplier and customer master data up-to-date: Business Connect provides the basis for fast, transparent and secure data exchange with your business partners. All cooperation partners have access to up-to-date company data, such as master data, quality and environmental certificates or company documents. Thus, administrative processes of supplier management are significantly accelerated.
- The requirements of your customers can only be met if your business partners ensure delivery reliability: With TRUST&TRACE Order Visibility you make order processing between you and your supplier transparent. All parties involved are always up to date throughout the entire multi-stage order fulfillment process.
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With these services, TRUST&TRACE significantly reduces the effort involved in supplier management and data maintenance while helping to establish and maintain business relationships digitally.
In contrast to traditional approaches to supplier management, TRUST&TRACE enables each company to maintain its data independently and make it available to its business partners – in other words, the data is only maintained once and used multiple times. Verification of important company data by trustworthy third parties also reduces costs that would normally be incurred when validating and checking company information by conventional means.
With TRUST&TRACE, all participants retain control over their data. Through a decentralized cooperation approach using a neutral, block-chain-based infrastructure, TRUST&TRACE creates the basis for the sustainable economy of tomorrow.