Tealbook:

  1. Cleanses your supplier data by removing duplicated entries.
  2. Enriches your supplier data using machine learning technology, boosting it from an average of 10% completeness to 75%. You receive details such as products/services provided, categories (e.g., NAICS and UNSPSC codes), quality, diversity and sustainability certifications, and contact email addresses.
  3. Helps you reduce onboarding costs by driving compliance and access to existing preferred and qualified suppliers prior to any additional new supplier request.
  4. Identifies sole source categories and introduces competition using the rapid supplier discovery function – yielding a 90% improvement in cycle time in finding and qualifying new suppliers.
  5. Increases visibility of your suppliers’ parent/child relationships so that your existing agreements can be consolidated and renegotiated with the parent entity.

 

What is Tealbook’s greatest value-add in your opinion?

Data is like water: if left stagnant for too long, it becomes useless and potentially harmful, exposing companies to risk. When you use Tealbook as your supplier data foundation, rest assured that not only will your supplier data always be fresh, but it will continuously improve, providing you with actionable insights and maximizing the value of your technology stack.

 

What surprises a supplier most about Tealbook’s features?

It comes as a huge relief to realize how simple and quick it is to update your profile. Tealbook does all the heavy lifting. Our machine learning technology pre-populates your B2B profile to more than 75% completeness, so you spend a mere 20 minutes on average to complete it. Also, diverse suppliers are able to self-certify in our tool so customers identify you for sourcing events, saving great amounts of time and money.

 

Any last words for practitioners?

I come from a procurement transformation background in blue chip companies. If I still worked on the customer side, reviewing potential solutions to drive efficiencies, compliance, and savings, the investment in Tealbook would be a no-brainer – our solution pays for itself within months.


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