SWITZERLAND – SGS, world’s leading testing, inspection and certification company, has braced itself to fight fraud and falsification by rolling out its blockchain powered technology, Secured Document feature.
The rollout aided by the company’s collaboration with Komgo, a Swiss-headquartered software development and technology services company, primarily focuses on agricultural commodity related reports and certificates.
SGS Secured Document helps customers manage their operational risk by providing secure access to a document’s history so that they can verify and authenticate its true origin.
“At SGS we’re committed to protecting the interests of our customers, and in a changing digital world ensuring that documents can be easily and securely verified helps make sure that key business transactions can proceed in confidence.
“I’m proud of the team for rolling out SGS Secured Document globally after an earlier highly successful trial,” said Paul Harrison, Global Vice President at SGS.
As trade becomes ever more complex, and trust becomes an even more essential component of completing international deals, SGS Secured Document helps customers to authenticate a document in real time and access its complete audit trail.
Thanks to Komgo’s Trakk tool, a document’s status can be easily verified by dragging and dropping a PDF file into a widget on SGS’s website or installing the Trakk plug-in in Outlook software. Consequently, customers can easily verify the validity of final reports and certificates.
Komgo’s Trakk technology – used by SGS Secured Document – exploits the company’s unique experience in the banking and trading ecosystem.
Trakk supports commodity supply chain transactions, providing a secure network to register, trace and authenticate digital documents, increasing their integrity and overall value.
“Following a successful eight-month pilot program which saw over 2,000 documents registered, SGS is delighted to be able to offer this extra layer of security and validation to all their customers globally,” the company said.
Trakk is designed to work across different platforms and helps all kinds of businesses to secure their documents. The boost, over the next year, will enable the safeguarding of hundreds of thousands of documents annually.
Audit trails and document verification details are securely stored in a private SGS data room on Komgo’s network, so that customers can be assured of a system that is fraud-proof, confidential and fully accessible.
Original documents always remain stored in SGS’s own secure environment, adding an additional layer of unmatched security. The unique digital “hash” created for each document will enable them to be incorporated into digital transactions now and in the future, providing full peace of mind for those on the receiving end.
“SGS knows just how important transactional documents are, and SGS wants to give our customers the confidence that documents from SGS are both reliable and trustworthy,” added SGS.
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