IntegrityNext presents new solutions for EUDR compliance and multi-tier supply chain visibility at IntegrityNext Xplore 2024
Double AI innovation for sustainable supply chains
Munich, September 10, 2024 - IntegrityNext, the leading provider of software solutions for sustainable supply chains, is unveiling two software innovations at this year's IntegrityNext Xplore 2024: For EUDR Compliance and Multi-Tier Supply Chain Visibility. Both solutions integrate ground-breaking, independently developed AI capabilities for next-generation automated supply chain compliance.
The new EUDR solution from IntegrityNext addresses the requirements of the EU Deforestation Regulation (EUDR), which has been putting the supply chain management of numerous industries to the test since it came into force in June 2023. The regulation requires a high degree of transparency regarding the origin of products and materials. From December 30, 2024, importers and exporters of critical raw materials such as soya, oil palms, cocoa, rubber or wood on the EU market must prove that these raw materials were not grown on areas that were deforested after December 31, 2020, among other things by means of detailed due diligence declarations and geolocation data.
Violations can result in fines that can run into the millions, depending on the company's turnover. In addition, non-compliant products can be excluded from the EU market. The exact penalties vary depending on the EU member state. Larger companies must already comply with the new due diligence obligations by December 30, 2024. The extended deadline of June 30, 2025 offers SMEs and smaller companies some breathing space.
EUDR: Automated compliance for the EU Deforestation Regulation
IntegrityNext now offers relief in the implementation of EUDR requirements - through a comprehensive software platform with automated data collection and validation, AI-based risk analyses and audit-ready reporting functions. Over two million supplier profiles are currently registered on the IntegrityNext platform, which significantly speeds up data collection. The EUDR solution can also be seamlessly integrated into existing ERP and SCM systems to ensure complete supply chain transparency.
With the help of AI-supported risk assessments, the EUDR solution automatically identifies potentially risky products and helps companies to develop risk mitigation strategies. The integrated geolocation function allows the origin of raw materials to be precisely mapped and verified. AI-based mapping of deforestation trends based on historical data provides companies with valuable insights to manage their supply chain with foresight. The platform automatically generates EU-compliant reports that companies can submit directly to the authorities.
AI Multi-Tier Supply Chain Visibility: Transparency at every level of the supply chain
Insufficient transparency in increasingly complex supply chains hinders sustainable sourcing strategies and increases the risk of violations of environmental and social standards. The AI Multi-Tier Visibility solution, which IntegrityNext is also presenting at Xplore 2024, addresses these challenges for corporations with complex, multi-tier supply chains, but also for medium-sized companies that need to be equipped for current and future requirements.
IntegrityNext's cloud-based multi-tier supply chain visibility solution visualizes each tier of the supply chain down to raw materials using customs tariff numbers and product descriptions and provides AI-powered predictions on potentially critical nodes. Companies can assess the performance of their suppliers based on validated sustainability data. Rather than relying on estimates or second-hand data, IntegrityNext draws on sustainability information collected directly from suppliers for much more accurate traceability and risk assessment. With the ability to download and customize supply chain mapping, the platform facilitates seamless integration into existing compliance and reporting systems.
The two solutions from IntegrityNext demonstrate this: Even complex supply chains and strict sustainability regulations can be managed efficiently - with the right tools. "The increasingly stringent requirements for supply chain transparency are pushing proven methods of aggregating and validating supply chain data to their limits," explains Simon Jaehnig, CRO and co-founder of IntegrityNext. "That's why our internal AI task force is working specifically to maximize time savings and ease workload for our customers through state-of-the-art AI features."
Participants will find out what this means in practice at Xplore in Munich from September 10 to 11, 2024. In over 30 keynotes, panel discussions and workshops, industry experts will provide practical solutions to current ESG challenges such as N-tier transparency. Further information: https://www.integritynext.com/xplore#welcome
About IntegrityNext
As a global leader in supply chain sustainability software, IntegrityNext stands at the forefront of corporate sustainability and compliance. Since 2016, businesses have trusted IntegrityNext to simplify ESG compliance, reduce risks, and address critical challenges like due diligence, decarbonization, and sustainability reporting. With over 500 customers and 2 million suppliers across 190 countries, IntegrityNext is transforming supply chains into engines of transparency and sustainable growth.
