At the annual Taulia Connect conference that brings together financial supply chain experts and thought leaders, information technology and services company Taulia Inc., announced the creation of the market’s first HIPAA-compliant supply chain finance solution.
The product is set to launch this summer, and complies with all HIPAA data security requirements by ensuring database encryption of all PHI (protected health information) submitted to and accessed on the Taulia platform.
RELATED TOPIC: Top 10 healthcare supply chain rankings
In addition, access to sensitive information is limited to permitted users and systems within Taulia applications.
“The digitization of the healthcare industry presents real challenges when it comes to the security of data that needs to be protected - in-house solutions are prohibitively expensive for a vast majority of companies, so they run the risk of being non-compliant,” said Markus Ament, co-founder and chief strategy officer of Taulia.
“By creating the world’s first HIPAA-compliant supply chain finance solution, Taulia will help healthcare providers, insurance companies or any supplier whose invoices include protected health information to be compliant, at a fraction of the cost of building an in-house solution.”
The company has also launched a global Partner Community, which provides a hub of enablement and collaboration tools to support partners whose complementary products and services help transform financial supply chains.
Based in San Francisco, Taulia is the fastest growing SaaS platform and network for Supplier Financing, eInvoicing and Supplier Portals. Organizations can reduce their total spend and achieve double-digit returns on cash positions, while proving opportunities for their suppliers to benefit from early payments, eInvoicing capabilities and low-cost financing options.
Some of the most innovative brands in the world rely on Taulia, including Coca-Cola Bottling Co. Consolidated, Pfizer, Pacific Gas & Electric, Hallmark and many other Fortune 500 companies from various industries.