TealBook x Procurement Leaders: Maximizing Procurement ROI with Good Data
In this recent webinar, TealBook & PL team explored the key components of a successful data-driven procurement strategy, including the role of Gen AI.
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TealBook touches procurement decisions, big and small.
Solve master data management, work with more diverse suppliers, and everything in between.
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0%
of procurement leaders have experienced the negative affects of bad data and misinformation.
0%
of those surveyed cite financial losses attributed to poor data.
0%
of surveyed professionals who use a supplier portal say they don’t trust suppliers to update their information.
The Supplier Data Problem
Organizations need a unified source of truth for supplier data. Until now, this has been a massive challenge for procurement professionals—because supplier data is complex and ever-changing, and typical methods of maintaining it rely on manual input from suppliers across several different platforms. Companies spend millions of dollars and hours attempting to cleanse and harmonize their supplier data, but these investments are in vain with no ongoing plan for supplier data management.
By Use Case
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Vendor Master Data Management
Teal iQ analyzes vendor master data against TealBook’s trusted supplier data consisting of 13 million supplier profiles (and counting), and rapidly generates a detailed report. Teal iQ consists of two phases:
- Phase 1 – Diagnosis: The first phase provides a diagnosis of the organization’s vendor master data quality, including a breakdown of the gaps that reside, like missing attributes, non-suppliers, and duplicates.
- Phase 2 – Enrichment: The second phase quickly matches an organization’s vendor master data to the right supplier entity, and enriches it with missing attributes, such as address, employee numbers, size, company size, and NAICS codes. Teal iQ also enhances your organization’s data with up-to-date diversity certificates, including their classification and expiration dates.
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Supplier Data Platform
TealBook optimizes your existing investments with robust, up-to-date supplier data that can power your procurement stack.
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Supplier Discovery
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Tier 1 Supplier Diversity
Manage or expand your Supplier Diversity Program, maximize diversity spend, and identify diverse suppliers.
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Tier 2 Supplier Diversity
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ESG Reporting
Get a head start on ESG initiatives by searching for suppliers by sustainability certifications.
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By Team
TealBook’s proprietary supplier data is cross-functional and banishes siloes. By optimizing your procurement processes, you’ll create opportunities for improvement in every department of your organization.
Procurement
Optimize your existing investments with robust, up-to-date supplier data that can power your procurement stack.
Information Technology
Every procurement journey should start with data: from a sourcing event to a huge implementation. You should never waste time manually collecting and updating data.
Finance
Your data shouldn’t be a problem or a burden but an asset. Make high-quality decisions based on high-quality data.
Corporate Social Responsibility
It feels good to do good. Change can be both big and incremental when you leverage high-quality data on sustainable and diverse suppliers.
Innovation
Drive supplier-led innovation with a cloud-based data layer that leverages state-of-the-art machine learning concepts to deliver supplier data light years ahead of self-reported, manually collected and maintained data feeds.
By Industry
Every journey should start with clean data. TealBook has introduced digital procurement transformation to a variety of organizations across many different industries.
Thought Leadership
Unleash procurement possibilities.
Whether you’re looking to maximize diversity spend, optimize supplier diversification, or identify emergency sourcing options, the best available supplier data makes all the difference.
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