Starting a Small Supplier Sourcing Program

How Regions Bank built a small supplier sourcing program rooted in business strategy 

For companies ready to embrace small supplier sourcing, one of the most critical steps often gets overlooked: aligning the program with core business priorities. Tiffany Lovelace, SVP and Head of Local Sourcing at Regions Bank, didn’t start with policies or platforms. She started with purpose. 

“We went back to the business first,” Tiffany shared. “Before we built anything, we made sure our small supplier sourcing program directly aligned with Regions’ values, our goals around economic development, and the needs of the teams we support every day.” 

Start with strategy, not just spend 

Regions Bank is a leading full-service financial institution with deep community roots, especially across the South, Midwest, and Texas. Its corporate priorities—job creation, neighborhood revitalization, and small business development—naturally intersect with inclusive procurement. 

“When you look at who we serve and where we operate, small businesses are at the heart of those communities,” said Tiffany. “So, we asked: how can our sourcing program reflect and support that?” 

This business-first approach gave their small supplier sourcing efforts immediate credibility and clarity, and it also secured executive buy-in from the start. “Because we were solving real business needs, not just checking boxes, we had full support from leadership.” 

Building a smarter, scalable program 

With strategy and stakeholder support in place, Tiffany’s team began to operationalize their approach. “We knew we needed better data, easier supplier discovery, and a way to measure the broader impact of our work,” she explained. 

That’s where Supplier.io came in. 

“Supplier.io gave us access to a database of over 11 million suppliers, with the insights we needed to find and vet the right small businesses,” Tiffany said. “That changed the game for us.” 

She also emphasized how Supplier.io made small supplier sourcing scalable across the organization, not just within the supplier diversity team. “We were able to equip our entire sourcing function with the tools to act on this strategy, not just talk about it.” 

Turning insight into impact 

Regions’ small business sourcing program isn’t just about contracts, it’s about outcomes. With Supplier.io, Tiffany’s team moved beyond spend tracking to measure economic impact, community reinvestment, and supplier success. 

“Now we’re reporting on more than dollars,” she said. “We can demonstrate how our small supplier partnerships are creating jobs, supporting local economies, and strengthening relationships with customers and communities.” 

Advice for others: Anchor your program in business goals 

Tiffany’s story offers a powerful lesson: the most effective small supplier sourcing programs don’t start with compliance, they start with strategy. 

“You have to make it relevant,” she advised. “If your program isn’t solving real business problems or supporting your company’s core values, it won’t stick. But when it does, the support and the results follow.” 

With the right alignment and the right tools, Regions Bank has built a small supplier sourcing program that’s not only impactful, but indispensable. 

Ready to talk with our team about making your sourcing program essential? Book a demo today.