Accenture announces partnership with TradeIX to digitize global trade

The partnership will extent Accenture's finance, trade, and accounting solutions using distributed ledger technology.
Renowned professional services company, Accentureplc has recently formed a strategic alliance withDublin-based technology firm TradeIX to bring in new use cases, in addition to banking, to address buyers and sellers need within trade finance.
Reportedly, TradeIX is the latest addition to Accenture Ventures' investment portfolio. The company basically uses distributed ledger technology to facilitate the flow of services, goods, transactions and information within a secure environment for global trade.
According to Melanie Cutlan,MD of Blockchain Services, Accenture Operations, the partnership between the two companies will help unlock data silos across key operational processes, such as accounting, finance and supply chain.
Their goal is to scale this capability to aid firms in achieving touchless payable and receivable processes within a secure environment, eventually transforming the way business is conducted between firms.
As for Robert Barnes, Co-Founder & CEO, TradeIX, their global footprint is expanding exponentially among cooperate clients and across banks, and this partnership with Accenture will aid the company in achieving its ambitions of making trade smarter, transparent and more connected internationally.
Reliable sources claims that the two firms will work together to build touchless finance processes like order-to-cash and procure-to-pay. The move will further enhance the Marco Polo Network, a joint unit of around 30 banks, technology providers and corporations enabling secured and simple sharing of trade-related data between financial institutions and their corporate clients. Accenture is also slated to serve as a implementation partner for the Marco Polo Platform.
Apart from making strides in the financial space, Accenture has recently made some advances in the healthcare sector as well. The company has reportedly announced its partnership with global biopharmaceutical company UCB to build a safety solution-based on the INTIENTPharmacovigilance platform.
The move is expected to accelerate the processing of individual patient safety case reports. It will eventually help UCB uncover patient safety impacts caused by existing treatments and better manage the risks associated with new drugs and services.