Finding Hidden Small Suppliers: A Practical Guide to Data Enrichment

Many procurement teams want to source more from small businesses to build resilience, strengthen local economies, and meet stakeholder goals, but poor supplier data hides opportunities right in plain sight. 

In a recent Supplier.io Product Spotlight, our team explored how Data Enrichment helps organizations gain immediate clarity on their supplier base and uncover untapped opportunities with small businesses. 

The Foundation of Effective Supplier Intelligence 

In today’s market, procurement teams are expected to do more with less. Procurement teams are being asked to cut costs, manage risk, and prove impact to leadership. Yet, many programs struggle with a fundamental challenge: they don’t have a clear picture of their current suppliers. 

The latest Hackett Group study found: 

• 75% are increasing investments in supplier data 

• 67% are planning to use platforms like Supplier.io to achieve their goals 

You can’t manage what you can’t measure. Enriching supplier data gives procurement teams the confidence to report accurately and make strategic sourcing decisions that drive real business impact. 

Four Critical Data Enrichment Strategies 

1. Find Hidden Small Suppliers in Your Current Base 

The most immediate value comes from discovering small suppliers already in your system. Many organizations find that a number of their suppliers have diverse certifications or small business status that wasn’t previously captured in their data. 

This strategy enables teams to instantly improve sourcing metrics without expanding their vendor roster, proving quick wins to leadership while building momentum for broader program growth. 

2. Fix Data Gaps That Obscure Small Business Impact 

Outdated or incomplete records often misclassify small suppliers as large businesses, masking true spend levels. Enrichment fills these data gaps and standardizes classification, ensuring you can confidently report small business engagement to executives and regulators. 

With accurate data, you gain a stronger negotiating position, improve audit readiness, and build credibility with stakeholders who care about small business inclusion. 

3. Discover New Sourcing Options with Verified Small Businesses 

Beyond your existing supplier base, enrichment connects you to a broader network of verified small businesses across industries. This opens doors to competitive sourcing, niche expertise, and innovative suppliers that larger competitors may overlook. 

With enriched data and search capabilities, procurement teams can quickly identify qualified small suppliers to diversify sourcing strategies and reduce dependency on large incumbents. 

4. Build a Foundation for Small Business Growth Programs 

Data enrichment is the first step to building a scalable small business sourcing program. Enriched data fuels advanced analytics, allowing you to: 

• Benchmark small business spend against peers 

• Identify categories with the most untapped small supplier potential 

• Track progress toward federal or corporate small business goals 

This foundation supports long-term strategies that drive cost savings, supply chain resilience, and measurable community impact. 

The Path Forward 

Supplier.io connects you to over 11 million suppliers, with enriched data powered by over $10 trillion in spend history. This comprehensive foundation enables procurement teams to move beyond basic compliance toward strategic supplier management. 

Ready to unlock the full potential of small business sourcing? Schedule a demo and discover how Data Enrichment can unlock hidden value in your current supplier base.