Fintech PR
Exostar Wins Two Year Contract with UK Ministry of Defence for Supplier Collaboration
Agency Continues to Rely on The Exostar Platform to Securely Transact Tens of Billions of Dollars Annually with Its Thousands of Suppliers
HERNDON, Va., Nov. 29, 2023 /PRNewswire/ — Exostar, the leader in trusted, secure business collaboration for highly regulated industries including aerospace and defense, today announced it has received a two year contract from the UK Ministry of Defence (MoD) to support conducting business with its community of thousands of suppliers. The new deal, which takes effect on January 1, 2024, comes at the conclusion of a competitive bidding process, and extends a productive relationship that spans more than two decades for a minimum of two years, with options for an additional two years.
“We greatly value our long-standing, strategic partnership with the UK Ministry of Defence. The MoD and its suppliers represent a vital piece of the Exostar community,” said Richard Addi, Exostar’s President and CEO. “We look forward to continuing our support for the MoD as it seeks to efficiently and effectively execute programs through secure, compliant collaboration with its evolving supplier network.”
Each year, hundreds of thousands of transactions between the MoD and its suppliers worth tens of billions of dollars flow through The Exostar Platform. To compliantly protect sensitive transactional data, parties engage with one another through The Exostar Platform’s Secure Access Module via an Enterprise Resource Planning system, a web browser, or a direct business-to-business connection.
The Exostar Platform’s Supply Chain Platform (SCP) application provides the workflows and functionality necessary to execute the interactions associated with each MoD/supplier transaction. SCP’s capabilities span the creation and sharing of purchase orders, changes, and responses; advance shipping notices; invoices; and payments – helping to ensure the MoD gets the goods and services it needs from its suppliers on schedule.
“The Exostar Platform’s track record of security, scalability, and performance allows us to meet the more stringent service level agreements the MoD requires to effectively engage with its suppliers,” said Tony Farinaro, Exostar’s Chief Revenue Officer. “This win further demonstrates that Exostar builds and supports the communities that enable trusted, compliant defense industry supply chain collaboration, whether for the MoD in the UK or the DoD in the U.S.”
About Exostar
The Exostar Platform supports exclusive communities within highly regulated industries where organizations securely collaborate, share information, and operate compliantly. Within these communities, we build trust. Nearly 200,000 companies and agencies in 175 countries trust Exostar to strengthen security, reduce expenditures, raise productivity, and help them achieve their digital transformation initiatives. Nearly half of the Defense Industrial Base, including 98 of the top 100, transact business over The Exostar Platform. Ten of the top twenty global biopharmaceutical companies rely on The Exostar Platform to help them speed new medicines and therapies to market. Exostar is a Gartner Cool Vendor. For more information, please visit www.exostar.com, and follow Exostar on LinkedIn and X.
Media Contact:
Alan Gilbert
Exostar
(703) 793-7735 (o)
(703) 624-4675 (m)
Alan.Gilbert@exostar.com
Logo – https://mma.prnewswire.com/media/1395046/Exostar_Logo_Updated_Logo.jpg
