Diversity Reporting FAQs
The ultimate guide to understanding supplier diversity reporting Is supplier diversity
TealBook is committed to helping organizations expand their supplier networks to be more diverse and inclusive.
Massively scale the impact of your supplier diversity program while reducing the friction that has traditionally been part of the administration process. TealBook makes Tier 2 reporting more accessible than ever before, allowing all companies in the supply chain to benefit from simplified access to diversity spend information.
Tier 2 diversity reporting is a process where suppliers can share their diversity spend with their customers. The process allows organizations to recognize the effect of their spend with suppliers who engage with diverse suppliers, as well as their direct spend with diverse suppliers.
Tier 2 spend is generally accepted by NPOs or government contracts as an acceptable addition to an organization’s overall diverse spend. Tier 2 criteria can also be another factor to assess Tier 1 suppliers by before they are contracted.
Get the largest possible view into your organization’s total diverse spend.
We use our AI and ML capabilities capture your suppliers’ diverse spend for Tier 2.
Leverage your Tier 2 spend to win large contracts or qualify for tax rebates.
Companies looking to receive Tier 2 spend information can invite suppliers to participate. Any invited supplier in the supply chain can securely upload spend either quarterly or annually. This spend information is kept private to them until they explicitly release it.
Organizations can then choose to allocate diversity spend to their client companies, either by percentage or by amount per supplier. TealBook combines this allocated spend information from all contributing suppliers into a consolidated Tier 2 Diversity Spend report.
For companies with existing supplier diversity programs, exploring Tier 2 diverse spend can expand these efforts and reaffirm a company’s commitment to their supplier diversity programs. For companies who have not yet explored reporting on their diversity spend, Tier 2 can be a great place to start. By recognizing the diverse spend of the suppliers you already do business with, you can evaluate where to focus your diversity goals.
Your Tier 2 spend can measure the social responsibility of your Tier 1 suppliers, helping you to further vet and choose the right suppliers for you.
TealBook offers functionality dedicated to addressing underserved communities and making an economic impact. Recognized diverse supplier categories include:
See your history with any given supplier, and access internal reviews and documents. Leverage clear data to foster trust and transparency within your supplier relationships.
TealBook touches a variety of procurement problems and decisions. Explore more use cases to unlock even more procurement possibilities.
Whether you’re looking to maximize diversity spend, optimize supplier diversification, or identify emergency sourcing options, the best available supplier data makes all the difference
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