At one of the world’s largest human resources (HR) providers, diversity, equity, and inclusion (DEI) are more than just a checkbox; DEI is embedded in their mission. And that extends to their supplier diversity program, a growing priority for many organizations.
Data availability and accuracy are critical to a successful supplier diversity program, but this global organization struggled with inefficiencies and data inaccuracies. They needed to revitalize the program quickly because, in addition to using diverse suppliers internally, the organization also helps find diverse suppliers as a service to their customers.
So, they brought in a new Global Supplier Diversity Manager with a clear mandate to transform the program. The new hire had a proven success record in this area after implementing Supplier.io at his previous company. The platform was just what was needed to transform supplier diversity at the organization. With a new manager at the helm and Supplier.io as the program’s backbone, the company was ready to take its supplier diversity program to the next level.
The Challenge: Inaccurate, Unavailable Data
Upon joining, the Global Supplier Diversity Manager inherited a supplier diversity system full of inaccurate data that required pulling in team members from other teams to help manually validate more than 3,500 records. He immediately knew the supplier diversity program was inefficient and not set up for success. Reporting was also difficult because there was no centrally available data. Reports had to be assembled and delivered to stakeholders on a case-by-case basis.
The Solution: Supplier.io
Recognizing the need for improved supplier diversity reporting, the Global Supplier Diversity Manager integrated Supplier.io into the organization’s supplier diversity program. Within six months, Supplier.io revolutionized the company’s supplier data verification process. As a result, eight team members were free to focus on strategic initiatives, saving hundreds of thousands of dollars. The reporting transformation was equally as impressive, with the organization now capable of providing reports to 60 internal stakeholder groups, up from the previous 15. They plan to soon increase that number to 100.
Winning the RFP Game
Supplier diversity, which had never set them apart before in requests for proposals (RFPs), became a decisive factor for the organization—helping them win business. The enhanced reporting capabilities provided a strategic edge, showcasing the supplier diversity program’s service offerings and support for clients. “The data is so much more accurate. We show how we internally develop our champions and get visibility all the way to our CEO on the momentum of our spend with clients.” In other words, the manager said, “We can show that we’re doing things our competitors aren’t even trying.”
The bottom line is that “[Our company] is actually winning RFPs over our competitors because of the way we report supplier diversity.” The team’s RFP responses are so impressive that prospective clients often reach out after the RFP process. “About 75% of the RFPs, when they see the type of reporting that we’re doing, they ask us for help building their supplier diversity programs.”
Winning with Accurate Data
Supplier.io’s robust data empowers the company to present accurate supplier diversity insights. “Supplier.io tremendously supports the accuracy of our data. I never say it’s at 100%, because suppliers change their classification quickly. But I think it’s the most accurate that anybody can provide.” For example, one of the organization’s important customers knew that they were spending millions of dollars with women-owned businesses, but their reports were showing a primary spend of only $19,000. The HR company’s team determined that many suppliers were classified in the federal hierarchy primarily as minority-owned—and only secondarily as women-owned.
Additionally, senior leadership, with limited time for raw data analysis, finds Supplier.io’s graphs and dashboards invaluable. The detailed reports provided by the platform enable executives to make informed decisions without extensive data interpretation, significantly increasing client confidence. “Executives know that we provide the most detailed and accurate data,” said the manager.
A Transformed Supplier Diversity Program
With the help of Supplier.io, this global HR organization transformed its supplier diversity program. The three-person team previously burdened with data validation now leads a robust program responsible for big wins across the organization. The Global Supplier Diversity Manager identifies alerts, tracking, and Registration as some of the top Supplier.io features used to strengthen their program. In the next year, the organization hopes to implement a hands-on accelerator for supplier certification, new tools for identifying certified diverse suppliers, and a digital supply chain for all diverse suppliers, including mentoring, scoring, and comparisons, all supported by Supplier.io.
Want to learn more? Download the Supplier Diversity Top 5 Best Practices for 2024 report to gain actionable insights from the top-performing supplier diversity programs.