Singapore-based Double Helix Tracking Technologies is joining forces with 11Foundry of the United States to help timber companies all over the world better manage their global supply chain risk and regulatory compliance, companies annouced in a joint statement.
Many timber industry professionals are familiar with global regulations such as the US Lacey Act and EU Timber Regulation. Whilst industry professionals have access to a wide range of information and monitoring tools, the vast quantity of supply chain data to collect and process can quickly become overwhelming and stressful.
11Foundry offers a compliance software solution named FiberTrace, developed for their industry peers to process, organise, and manage supply chain documents and records required by company policies and regulatory mandates. A cloud-based platform, it is flexible enough to meet the requirements of smaller businesses, yet easily scales to the needs of larger corporations with thousands of global suppliers.
DoubleHelix provides resources and expertise to engage with the timber supply chain all over the world. With a network spanning most timber producing countries, DoubleHelix works with manufacturers and forest owners to establish robust monitoring and data verification systems. This can ensure that all information and data entered into the FiberTrace system is authentic and trustworthy, all the way back to forest source.
Combined, the partnership delivers a comprehensive, end-to-end compliance solution for small and large businesses alike.
Colin Miller, Managing Director of 11Foundry, welcomes the partnership with DoubleHelix. “Not only does this enable us to introduce the FiberTrace software to more users in more regions around the world, but we are also able to call on the knowledge and expertise of DoubleHelix, who have an international reputation for delivering practical traceability and transparency solutions in the timber sector".
Mr Miller explained that his company’s software and systems have been built by industry users to solve the everyday challenges of managing and using a due diligence capability. FiberTrace provides critical features like role-based access, workflow automation, risk assessment recording, document storage, and complete system auditability, all through a very user-friendly, secure, and cloud-based interface.
Darren Thomas, CEO of DoubleHelix, in welcoming its latest business partnership with software company 11Foundry, says it is more important than ever “for the timber industry to demonstrate care and responsibility.” He continues: “Wood is increasingly seen as a climate-friendly material, so long as it comes from well-managed forests. Responsible businesses have an opportunity not only to demonstrate best-practice due diligence, but also to show how they contribute to a better world.
“As we are called on to support international businesses to undertake due diligence in an increasingly volatile environment, to manage and benefit from the data in their supply chains, and to communicate the positive impacts of their activities, we’re pleased to have 11Foundry and FiberTrace in our armoury,” Mr Thomas said.
