Accenture True Supplier Marketplace

A single source of truth for vendor onboarding, risk assessments and data management.

A shared platform for buyers and suppliers

Buyers struggle with prolonged reviews and delayed engagement with suppliers. High volume of invoices is difficult with existing processes. A new distributed application reduces the complexity of supplier onboarding and procurement management.

Improved turnaround time

Dynamic forms with built-in logic populated by suppliers reduce end-to-end onboarding from by 73 percent.

Reduced data duplication

Data entered once and used multiple times across all consented parties. Real-time updates across all parties to avoid reconciliation.

Enhanced compliance

100 percent of required risk assessments captured and stored by procurement. Intelligent form that integrates with risk systems.

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Shared solution for procurement

With new Supplier opportunities and pressure from the business, buyer groups must quickly collect and assess critical data to verify identity, mitigate risk, and enable transactions, yet fragmented supplier identity and risk concerns prevent value from being realized.

Leveraging blockchain technology, with this solution suppliers are given digital identities they own, including a third-party check verifications and credibility scoring. Suppliers manage and maintain their own data, eliminating manual data entry by buyer-side teams and helping supplier information to stay up to date because suppliers make updates in real time. In addition, every update generates a real-time track-and-trace audit trail.

Suppliers’ private data is shared only with their consent. Data permissions and privacy are built in so that parties are only able to access information that is relevant to them. A secure, shared identity data store is encrypted, pervasive, and persistent. View the video to learn more.

Accenture True Supplier Marketplace

Learn how blockchain technology resolves fragmented supplier identity and risk mitigation to unlock trapped value.

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Key features

One dynamic form

A simple questionnaire that dynamically adjusts to ask only the right questions to all of your suppliers, big or small.

Supplier managed data

Suppliers have full ownership and liability for the accuracy of their data. One update is reflected across all connected buyers.

End-to-end transparency

All parties access the same shared platform, creating a single view of progress and an audit trail for all updates.

Data privacy and consent

Suppliers provide explicit consent for buyers to access their private data. Users can only see what’s relevant to them.

Built-in risk assessments

Risk assessments are built right into the form, with real time results and one location to check status and outcomes.

Downstream integrations

Seamless integrations with ERP systems and other downstream services, such as contracting and invoicing.

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By the numbers

True Supplier Marketplace enabled by blockchain technology provides immediate results.

73%

Average reduction in end-to-end supplier on boarding time.

100%

Required risk assessments completed through a dynamic form.

>10k

Suppliers already live and being managed within the marketplace.

Case study: True Supplier Marketplace

Like many global companies, Accenture does business with a high volume of suppliers. As Accenture’s businesses have become more diverse and the pace of business increases, the types of suppliers and the process complexities of these relationships has also grown. Accenture Procurement reached out to Accenture’s internal IT and Accenture Technology blockchain organizations for a solution.

Accenture buyers are able to procure resources for Accenture teams with shorter lead times and timely invoice processing and payments.

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