TealBook Partnership Positions UMass for Further Success in Supplier Diversity

TealBook Partnership Positions UMass for Additional Success in Provider Range

Toronto, Canada – December 7, 2022 –– TealBook, the main provider information platform that autonomously enhances provider information, and the College of Massachusetts, a world-class public analysis college system, at the moment introduced the small print of their profitable first yr as companions. The partnership has enhanced UMass’ current provider info to make sure numerous suppliers are recognized and leveraged all through the college’s 5 campuses.

As a result of college system’s expansive dimension and great financial influence on the state of Massachusetts, UMass has made it a precedence to extend numerous spending inside their provider base. With the assistance of TealBook’s provider range intelligence platform, UMass was capable of enhance each their listing of numerous suppliers and numerous {dollars} spent. Further outcomes of the primary yr of the partnership embody:

28% enhance in recognized range spend for his or her FY22, up from round $50 million to $64 million for suppliers

28% enhance in recognized numerous suppliers in FY22, from 709 suppliers to 906 suppliers

Deeper visibility into spend with different minority enterprise enterprise (MBE) teams

New on-line portal that features dashboards of curated UMass provider range information, spend categorization and watchlist notifications

“For the reason that launch of the Unified Procurement Companies Group (UPST), we now have been striving to be a way more data-driven group that makes use of empirical proof to make sure sound enterprise choices,” stated Dave Cho, Chief Procurement Officer at UMass. “Our partnership with TealBook permits UMass to make use of information to validate that we’re really residing as much as our values by rising our provider range spend by round 33 p.c since UPST was launched in 2020. I’m very enthusiastic about further potential makes use of of this platform.”

“UMass has loved continued success all through the final yr of their provider range targets, and TealBook is proud to have been a part of that development,” stated Stephany Lapierre, CEO and founding father of TealBook. “Because the main provider information platform, TealBook is dedicated to giving companies the instruments they should consider and report on their numerous provider bases.”

For extra details about TealBook and their product choices, go to tealbook.com.


About TealBook

TealBook is the main provider information platform that automates the gathering, enrichment and distribution of provider information to energy the end-to-end procurement lifecycle. Utilizing AI and ML, TealBook allows procurement groups to unlock and notice the funding made in suppliers, folks, source-to-pay and ERP techniques. The world’s most modern procurement organizations are constructing their information foundations with TealBook’s trusted provider information. TealBook has been adopted by Fortune 100 firms and is the winner of many prestigious awards together with: Spend Issues 50 Distributors to Know, ProcureTech High 100, LinkedIn High Startups, and Gartner Cool Vendor. For extra info, go to www.tealbook.com.

About The College of Massachusetts

The College of Massachusetts is a world-class public analysis college system dedicated to advancing information and remodeling lives. UMass is famend for the standard of its educational packages, the scope and influence of its analysis, and the energy of its public service mission. With 4 complete campuses, a world-class medical faculty and a mission-driven legislation faculty, UMass educates greater than 74,000 college students, has greater than half one million alumni, conducts $752 million in annual analysis, and is answerable for $7.5 billion in financial influence yearly. The college system contains UMass Amherst, UMass Boston, UMass Dartmouth, UMass Lowell, UMass Chan Medical College in Worcester and the UMass College of Regulation in Dartmouth and is likely one of the largest employers within the Commonwealth of Massachusetts. For extra info, go to www.massachusetts.edu/

Media Contact:

Marisa Miller




Similar Posts

Leave a Reply

Your email address will not be published.