[ad_1]
HOUSTON – (BUSINESS WIRE) – TrackX (TSX.V: TKX | OTC: TKXHF | FSE: 3TH), a SaaS-based enterprise supply chain and asset management solutions provider, and Topl, a blockchain-based ESG technology company, are collaborating to provide a verifiable traceability and traceability solution to meet the growing demand for greater sustainability, transparency and efficiency of the supply chain.
With 68% of US consumers saying that a company’s social reputation will influence their purchasing decisions and 41% of US consumers preferring companies’ products associated with their ideals, consumer demand and industry pressure they are pushing many companies to step up and demonstrate their sustainability and positive impact. Concerns about COVID-19 have exacerbated these issues by leading to the need for better supply chain validation.
To meet the three core customer needs of supply chain sustainability, transparency and efficiency, companies need to be highly collaborative and transparent across the entire supply chain ecosystem. Despite advances in automation and data collection, obstacles remain. Supply chain partners are reluctant to share their internal data, which erodes trust and prevents transparency. There is often no unified, real-time view of the entire supply chain, making it difficult to find opportunities for improvement and verify product sourcing and sustainability claims.
TrackX and Topl are teaming up to solve these challenges. The integrated solution will combine Topl’s blockchain technology with TrackX’s enterprise resource management and supply chain optimization capabilities. Partners will be able to securely and reliably share verified event data to reduce costs and increase transparency. Companies can now provide their customers and consumers with verifiable proof of origin and sustainability, as well as corporate social responsibility (CSR) statements. Unlike other supply chain optimization platforms, the TrackX and Topl platform is the only one that can reliably collect, monitor, report and verify supply chain events in a single end-to-end solution.
Topl CEO Kim Raath said that “the FDA recently announced requirements for full traceability in various agri-food products. This new rule will force many agri-food brands to take an in-depth look at their supply chains and find a way to track and trace their products. The solution from Topl and TrackX will be a great option for these companies that need to comply with new regulations and compliance mandates. In addition, our joint solution allows users to view their supply chain data, monitor suppliers and easily report the progress of ESG initiatives to all stakeholders. ”
The demand for sustainability within supply chains is growing. This year alone, more than 40% of US respondents say they evaluate their supply chain to improve resilience to future disruptions.
“Our customers have a unique opportunity to turn supply chain optimization into competitive advantage,” said Tim Harvie, CEO of TrackX. “TrackX already automates supply chain execution and analysis for many leading brands and retailers. Tight integration with Topl’s blockchain will now provide “proof” to all stakeholders in the supply chain that certain events have occurred. In partnership with Topl, our corporate clients will have the traceability, monitoring, visibility and accountability they need to meet their digital supply chain and ESG initiatives. ”
About TrackX
TrackX, Inc. (TSX.V: TKX), is a Denver-based supply chain solutions company that leverages multiple automatic identification and sensor technologies and an event-based software platform to provide transparency and speed to supply chains most complex in the world. TrackX’s Global Asset Management for Enterprises (GAME) platform enables the Industrial Internet of Things (IIoT) by providing unique item-level tracking, workflow processing, event management, alerts and powerful analytics to deliver solutions in a growing number of sectors. TrackX delivers significant value to a growing list of Fortune 500 companies in industries such as transportation, beverage, brewery, hi-tech, hospitality, mining, horticulture, manufacturing, and government. www.trackx.com
About Topl
Topl, Inc., is a Houston-based venture-backed ESG technology company that develops a purpose-built blockchain ecosystem to demonstrate a company’s ethical and sustainable business practices. Founded in 2017, Topl allows companies to drastically cut operational and certification costs, through the use of their purpose-built blockchain technology. The company will launch its Blockchain-as-a-Service (BaaS) solution in early 2021, allowing its “two-click” customers and technology partners to gain instant access to the Topl Blockchain. Topl employs a diverse team and places ESG as one of its core values, using the United Nations’ 17 Sustainable Development Goals (SDGs) as a guide. www.topl.co
