September 2022 Release Notes: Sustainability Survey, EcoVadis Integration, and Tier 2 Supplier Journey Enhancements
This month’s release is packed with new features, partnerships, and user experience improvements. We’ve qualified new certification sources that add thousands of certifications to supplier profiles across the platform, simplified the Tier 2 user experience, and are introducing new features and partnerships that empower customers to examine how procurement decisions impact sustainability efforts.
Sustainability Spend Reporting
The sustainability spend report is a new feature that gives an overview of organizations’ environmental, social, and governance (ESG) performance by providing detailed reports of spend with ESG certified suppliers. ESG certifications include categories such as emissions reduction, sustainable sourcing, energy management, and animal welfare.
For TealBook customers with Elite license, this feature boosts spend data capabilities with no additional effort required. The report allows customers to filter by time period, view spend by ESG category, review details of suppliers’ ESG certifications, and verify self-certified suppliers’ ESG qualifications.
The sustainability spend report is a powerful new tool that enables customers to make procurement decisions that align with their organization’s policies and business strategies.
The sustainability survey is a 5-part survey designed to gain insight into suppliers’ ESG programs and how those programs align with customers’ sustainability strategies. The survey covers topics in health and safety, environment, workplace diversity and inclusion, governance, and privacy.
TealBook customers can invite suppliers to participate in the survey. Suppliers’ responses along with reports generated from the survey are displayed in Sustainability Survey Overview within the Sustainability Report tab. The survey is designed to enable customers to examine how procurement decisions impact sustainability efforts. It also gives suppliers the opportunity to demonstrate their commitment to sustainability, strengthen business relationships with their customers, and gain new business prospects and strategic partners.
New Certification Sources
The supplier certificates across TealBook have grown by almost 20,000. We’ve added new sources that provide certifications to suppliers around the world. Certifications from the newly qualified sources include SME, MBE, Emission Reduction, Animal Welfare, Diversity Equality & Inclusion, and Sustainable Sourcing.
For TealBook customers, this can mean an increase in qualified diverse spend and an insight into sustainability spend. These additional certification sources also expand the breadth of ESG certifications available during supplier discovery.
Eligible customers can now request access to EcoVadis supplier ratings. TealBook’s partnership with EcoVadis empowers joint customers with enhanced supplier data to quickly and easily identify suppliers that meet their ESG requirements. Customers also have the ability to request supplier ratings through the supplier profiles in TealBook.
Customers can start leveraging this feature by entering their EcoVadis integration credentials in the App Config tab within their TealBook Admin portal.
Tier 2 Enhancements
The Tier 2 supplier experience has been streamlined with a new process and improved messaging to help suppliers through every step of the journey from adding spend data to allocating diverse spend to buyers.
Suppliers now have the ability to enter aggregate spend amounts in TealBook without relying on Supplier Partners. We’ve also updated the spend file template with additional instructions on data requirements and made it easier to allocate diverse spend, especially to multiple buyers.
With these enhancements, TealBook users could see an increase in Tier 2 diverse spend allocations.