Keelvar’s note: We are pleased to welcome our partner Tealbook and their Global Head of Alliances, Mo Ahmad, as our guest blog post author for this content. Read more about our partnership with Tealbook here.
I have seen businesses with incredibly mature processes, fantastic category knowledge and robust networks (i’ve seen the opposite too sadly). Yet the execution of their strategy has been 10x more difficult because of data.
Strategic procurement teams are hampered by disparate data, requiring a very reactive approach to understanding their suppliers and the value that they can bring to the table. In recent CPO roundtables, when asked how much time procurement teams are spending on gathering supplier data, the answer has been anywhere from 27% to 50%. Enter the TealBook Supplier Data Platform.
It is now entirely feasible to use automation to remove the need to find supplier data from 20 different sources and moreover integrate it into your sourcing optimization strategy (#Keelvar).
Not only can we give you greater visibility across your whole supplier base, but we can then manage that for you autonomously as well as feed it into your data systems, ERP(s) and your Source to Pay solutions - bye bye data problems
We can now use AI/ML engines with supplier data attributes to help you understand trends, find additional information on existing key suppliers AND alternate supply to drive competition in your category strategy. Already, TealBook data can be leveraged to ensure your Diversity, Equity and Inclusion strategy is automatically leveraged in the decision framework.
How are you currently fitting ESG in? Emission reduction is a huge topic. If you have suppliers that provide products of a similar specification, but one has an emission reduction certificate and the other doesn’t, would that make you ⏸️ for 🤔? #StartActioningESG
Imagine being able to, by category, find suppliers autonomously for a BOM that provide the actual product you’re looking to tender?
Thus streamlining or remove the need for an RFI to qualify suppliers, making it even more efficient to run a complex tender by leveraging supplier data attributes.
Or using risk data to provide input into the optimization and decision making process which feed the intelligence within the system so you can focus on outcomes?
How much would that streamline the process? How much ⏱️ could you then use to focus on that other pile of work on the left that you haven’t touched in weeks?
This is what excites me about our relationship with Keelvar. Their solution connected to the TealBook Supplier Data Platform will help drive some fantastic gains for procurement and I can’t wait! 🤯
Normally i’d say ‘this is the tip of the iceberg’ yet the irony is that it’s what’s under the iceberg that will change the shape of procurement. Let’s remove the #dataproblem together and let #dataintelligence power the procurement rocket ship to the future. ‘To infinity and beyond’ as my good friend Mr Lightyear said! Ok that was cheesy…
Get in touch if you want to chat on what this could mean for you, we would welcome your thoughts and ideas 🙏🏽 #addfueltotheproverbialfire
Thank you for reading!
Mo Ahmad is Global Head of Alliances at Tealbook.