A company can request a partner to become a user of the trust network too. The company presents itself via the network to its (potential) partners with reliable company and personal data, and the company expects the same from its partners. Authenticating the company’s identity and the legal representative – who is provided with an electronic signature – secures that business can be done effectively.
The business case for the user of the trust network consists of the following components:
- An information ecosystem designed and maintained by partners keeping their business and personal data accurate and up to date.
- Every year, MYOBI compares company and personal data from authentic sources with the data of the network users. Users of the network are responsible for organizing compliance with the TTP policy.
- The business and personal data from the information ecosystem form a solid basis for organizing business activities with business processes that include management and security measures “by design.”
- Accountability in the chain based on an equal framework of standards (TTP policy) through a similar system (accountability seal) increases the quality of the data and the business activities and reduces costs.
The investment costs of the business case are limited. Its information ecosystem is developed by entering into agreements with partners. MYOBI removes any barriers for partners to participate in the network by entering into the first three agreements free of charge.
For designing a business case, it is crucial to list the business activities (sales, personnel management, purchasing or governance) and assess the extent to which business processes, in which control measures “by design” are included, organise the business activities effectively. For every activity, the company makes agreements with partners, wants to know its partners demonstrably, intends to exercise its rights without any worries and is informed about compliance on time.
With the trust network, MYOBI facilitates the company and its partners to meet and exchange company and personal data under supervision. MYOBI also enables users with a compliance approach to guarantee the confidentiality and reliability of the business and personal data in the chain. In addition, smart contracting complements by ensuring that the company concludes appropriate agreements with its partners and can perform effective contract management.
Companies can easily apply the trust network when organizing business activities. After registration, the reputation manager sets up the business organisation and makes agreements about managing the compliance approach.
The added value of MYOBI increases as the company optimizes business processes, for example, by applying smart contracting to the foundation of the trust network. A necessary condition is that the company must have sufficient change capacity among its employees and supports the changes. MYOBI facilitates the behavioural change of employees with a company-specific learning environment, on which professionals make training available.
MYOBI facilitates companies by compiling a suitable business case with the necessary services, implementing it, and realizing the intended benefits. In addition, of course, MYOBI is happy to help you quantify the added value of applying the trust network, trust services and applications.