Accelerate supplier onboarding and lifecycle management with the FHR® and Trust Your Supplier in collaboration with Chainyard and IBM

Build supplier collaboration with blockchain.

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RapidRatings has partnered with IBM’s Trust Your Supplier (TYS) network to replace historically manual supplier onboarding processes with simplicity. With the help of our Financial Health Rating as a financial viability verifier, buyers have immediate access to real-time supplier data.

As the standard for financial health transparency between business partners, the FHR score and reporting provide a common framework to identify and discuss issues that can impact supplier quality and delivery performance.

 

 

 

 

 

The TYS Network, built on blockchain, fosters mutually beneficial supplier management and collaboration at a fraction of the cost. Each supplier has their own digital identity passport, with the ability to share it with any permissioned buyer.

Benefits to buyers and suppliers on the TYS Network include:

Buyers Suppliers
  • Scale flow of verified information to procurement and supply chain teams for faster onboarding and monitoring

  • Streamline access to FHRs for accelerated workflows

  • Eliminate redundant information submissions and processes

  • Leverage the industry standard for demonstrating financial health to grow your business


steve rogers quote

“Chainyard and IBM invited RapidRatings to bring their best in class FHR rating as an option to validate the financial viability of suppliers within the TYS network. Their role as a verifier on the network adds an additional level of insight and credibility, providing all of our participants greater trust in the accuracy of the information upon which they make important business decisions.”

– Steve Rogers
Vice President for IBM Blockchain Initiatives in Supply Chain

 

gary-storr quote

 

“Blockchain has the potential to digitize and streamline the way procurement teams interact with their suppliers in an extremely impactful way with a powerful overlay of trust and validation. TYS solution benefits are not just for procurement organizations, but also for suppliers on the network. Partners such as Rapid Ratings bring credibility to suppliers by validating and augmenting their financial standing, allowing buyers to make trusted and timely qualification decisions.”

– Gary Storr
Trust Your Supplier General Manager, 
Vice President, Blockchain Commercial Solutions, Chainyard

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IBM (NYSE: IBM) and Chainyard recently announced Trust Your Supplier (TYS), a new blockchain network that will improve supplier qualification, validation, onboarding and life cycle information management.

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