First of all, companies dealing in natural resources like wood products must ensure compliance with legal sourcing regulations like the U.S. Lacey Act and the EUTR, both of which require supply chain due diligence and prohibit the trade of illegally harvested plants and plant products. In addition, products and processes must conform to numerous employee and consumer safety requirements. Finally, all this must be done while pursuing and reporting on environmental sustainability goals and still turning a profit.
Responsible companies sourcing wood products require robust solutions to manage risk in a diverse landscape of regulatory mandates, safety standards, and sustainability goals.
Responding to this need of forest product traders, 11Foundry, a company whose partners have over 70 years of rich experience in the forest products and compliance space, offers technology and knowledge solutions to meet compliance needs and drive responsible business at every scale.
11Foundry enables companies to face the two primary challenges confronting the forest products industry. The first is that trading companies and other wood users often face risks due to lack of awareness of their supply chains, or awareness that is buried within departmental silos. The second challenge is consistency in justifying, documenting, and acting on decisions taken once that supply chain awareness is available.
11Foundry is solving these deeprooted problems through its breakthrough products, which can safeguard the integrity of compliance activities, and then leverage them to produce real business value.
“We are democratizing knowledge within a company to break down the walls of silos, aiding effective communication within internal teams and with external stakeholders,” says Colin Miller, 11Foundry’s founder and Managing Director.
11Foundry’s flagship product, FiberTrace, enables clients to condense the myriad reports scattered across multiple file management systems into actionable data that offers a clear picture of each supply chain-and its related risk assessment and risk management decisions-to customers, colleagues, and authorities, with one click.
While FiberTrace is designed to provide an infrastructure and knowledge library for consistent risk assessment and management, Accelerator by 11Foundry is an incredibly adaptable and flexible product that allows clients to quickly automate information collection and act on knowledge gathered from suppliers, colleagues, and other stakeholders.
The possibilities for seamless integration between Accelerator and FiberTrace reduce strain on the compliance team by ensuring that none of the important details get lost.
“11Foundry offers auditable, enterprise-grade products that give users role-based access to the tools and resources they need for their jobs,” states Miller.
We are democratizing knowledge within a company to break down the walls of silos, aiding effective communication within internal teams and with external stakeholders
11Foundry offers an edge over its competitors by building flexibility into their solutions. Aiming for the ideal balance between a tailored fit and an accessible cost of entry, their approach does not force clients to adapt their processes and cultures to a new set of tools and solutions. Instead, it makes their existing systems more efficient, functional, and accountable.
One of 11Foundry`s early success stories illustrates how FiberTrace and Accelerator can streamline compliance procedures and create business value. The customer, Vandecasteele Houtimport, is a Belgian trading company well known for sourcing sawn timber from around the globe. The company already possessed robust compliance procedures and an expert team when they found 11Foundry, but Vandecasteele needed a software platform that would organize and streamline the laborintensive processes driven by the company’s high standards. After testing a number of available solutions, Vandecasteele selected 11Foundry’s platform for its compliance department, and the benefits were immediately clear. After a successful FiberTrace rollout that yielded significant gains in team efficiency and top-level visibility, the company decided to use Accelerator to automate document collection and processing in order to further capitalize on software enablement in this complicated and dynamic compliance environment.
11Foundry’s expertise is not limited to the forest products industry. The company’s solutions are easy to scale and are adaptable across many industries. The skilled team, with certifications in Agile project management as well as Governance, Risk, and Compliance (GRC) management, is a force to reckon with, providing unique solutions to some of the most complex problems surrounding compliance and traceability. Equipped with innovative technology and a suite of accessible offerings, 11Foundry enables companies to build efficiency and value in environmental compliance.