TealBook Partnership Positions UMass for Further Success in Supplier Diversity

TealBook, the leading supplier data platform that autonomously enhances supplier data, and the University of Massachusetts, a world-class public research university system, announced the details of their successful first year as partners. The partnership has enhanced UMass’ existing supplier information to ensure diverse suppliers are identified and leveraged throughout the university’s five campuses.

Due to the university system’s expansive size and tremendous economic impact on the state of Massachusetts, UMass has made it a priority to increase diverse spending within their supplier base. With the help of TealBook’s supplier diversity intelligence platform, UMass was able to increase both their list of diverse suppliers and diverse dollars spent. Additional results of the first year of the partnership include:

• 28% increase in identified diversity spend for their FY22, up from around $50 million to $64 million for suppliers
• 28% increase in identified diverse suppliers in FY22, from 709 suppliers to 906 suppliers
• Deeper visibility into spend with other minority business enterprise (MBE) groups
• New online portal that includes dashboards of curated UMass supplier diversity data, spend categorization and watchlist notifications

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“Since the launch of the Unified Procurement Services Team (UPST), we have been striving to be a much more data-driven organization that uses empirical evidence to ensure sound business decisions,” said Dave Cho, Chief Procurement Officer at UMass. “Our partnership with TealBook allows UMass to use data to validate that we are truly living up to our values by increasing our supplier diversity spend by around 33 percent since UPST was launched in 2020. I’m very excited about additional potential uses of this platform.”

“UMass has enjoyed continued success throughout the last year in their supplier diversity goals, and TealBook is proud to have been part of that advancement,” said Stephany Lapierre, CEO and founder of TealBook. “As the leading supplier data platform, TealBook is committed to giving businesses the tools they need to evaluate and report on their diverse supplier bases.”

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