Exostar Solves Secure Source-to-Pay Challenge
By Business Wire News
Exostar, whose cloud-based solutions help companies in aerospace and defense, life sciences, and healthcare mitigate risk and solve their identity and access challenges, today announced the availability of a new solution that couples market demands for source-to-pay (S2P) functionality and regulatory-compliant, stringent system and information security. The hosted offering, powered by Wax Digital’s web3 technology, builds on Exostar’s legacy of solutions that allow aerospace and defense industry organizations to meet business-critical regulations such as data export controls, International Traffic in Arms Regulations, and UK Official Sensitive and Department of Defense security mandates.
“Organizations of all sizes, from large enterprises to small-to-medium businesses, are looking to rationalize sourcing and procurement to raise efficiency, reduce cost, and establish and enforce standard business processes and best practices. These factors are propelling the movement to S2P,” said Doug Russell, Exostar’s Vice President of Supply Chain Solutions. “But S2P without security, particularly in the aerospace and defense world, is simply a non-starter. Our secure S2P solution brings both of these elements together to form a compound that addresses the comprehensive challenges organizations face.”
Exostar’s secure S2P solution offers comprehensive functionality in a lightweight, modular, open architecture. Organizations benefit from streamlined workflows and best practices that span supplier management, strategic sourcing, contracts, procurement, payments, and invoicing. The solution also includes powerful analytics and reporting, and it easily integrates with an organization’s ERP and other back-end systems. Its pre-built integration with Exostar’s supply chain ecosystem enables robust structured collaboration with partners. As a result, organizations can achieve faster cycle times, reduce maverick spend, and consolidate systems.
Security distinguishes the Exostar solution from any other S2P product on the market. The solution is deployed in Exostar’s highly-secure, accredited facilities in the U.S. and UK that meet in-country hosting requirements. Use of the solution is controlled by Exostar’s identity and access management (IAM) platform. The IAM platform enforces strong, multi-factor authentication, with permissions and privileges assigned by an organization’s administrators. Individuals enjoy a seamless, single sign-on experience by presenting a single credential issued by Exostar or the organization itself.
Exostar’s S2P solution delivers the full functionality, flexibility, and uncompromising security organizations need to effectively and compliantly conduct business.
Exostar’s cloud-based solutions help companies in highly-regulated industries mitigate risk and solve identity and access challenges. Nearly 125,000 organizations leverage Exostar to help them collaborate securely, efficiently, and compliantly with their partners and suppliers. By offering connect-once, single sign-on access, Exostar strengthens security, reduces expenditures, and raises productivity so customers can better meet contractual, regulatory, and time-to-market objectives. www.exostar.com.