These companies are characterized by continuous investment in systems that foster network communities and authenticated community participation with credentials, leading to creation of “trust federations” or what is dubbed “Entrusts.”
An Entrust is a process-enabler, not just a technology or logistics service provider. An Entrust is trusted by a community to facilitate consistent, predictable transactions. An Entrust is a federator, bringing together other member enterprises and networks to streamline a process. An Entrust authenticates and issues credentials to participants to ensure there are no “catfish” or fake girlfriends in the ecosystem. An Entrust insulates its members from the continuous investments needed in the new era to modernize, harmonize and effectively harness new waves of technologies. An Entrust provides shared service environments for a community of players with varied technology capabilities. An Entrust provides broad access to a community to allow members to rapidly assemble, disassemble and reassemble its supply chain relationships with speed and grace. An Entrust will distinguish itself on consistency, predictability and fairness to a community. An Entrust will guarantee delivery of expected service and provide warranties in respect of failures.
Entrusts will start in highly-specialized communities and subcommunities, such as high-tech component manufacturers and suppliers, food distribution, CPG/copacker food production or freight forwarders/airline cargo. At its simplest level, an Entrust will be a trusted party that enables people of common interests to participate in a defined process of registration, authentication, and encryption for the issuance of credentials, standardized business process execution, certification and exception enforcement.