“The future of digital supply chains requires a data foundation that unlocks unlimited value creation,” says Dr. Elouise Epstein of Kearney. “Tealbook is a leading example of that data foundation.”
The benefit of a trusted supplier data foundation is to provide procurement teams with the ability to innovate with suppliers, drive advanced costs savings, create opportunities for corporate social responsibility (CSR), and manage risk. The data foundation is the organizing principle of the supplier information. Once it is cleansed, harmonized, and enriched it becomes easily syndicated to every application in the ecosystem. Data from Tealbook can be incorporated into any technology, whether it is a S2P tool, ERP, S2P/P2P, niche digital solution, Excel, or another analytics tool, ideally tying them together by the same source of data.
“The need to achieve digital procurement success has been a challenge for nearly every enterprise,” says Dr. Epstein. “This new ecosystem view acknowledges that third party (supplier) data is THE organizing construct for value creation. Unfortunately, due to the constantly changing nature of this data, solving it with yesterday’s approaches and ideologies is wholly inadequate. Organizations have collectively spent hundreds of millions of dollars – and have failed. Enterprises need a network-based approach that streamlines and automates the collection and (more importantly) the ongoing upkeep of third party data while seamlessly syndicating to all upstream and downstream systems.”
Tealbook is a Big Data company that provides a platform to fix enterprise supplier data forever. Tealbook does this through proprietary Autonomous Data Enrichment technology which proactively captures and maintains changing supplier information. In addition, Tealbook provides a data foundation that can be leveraged by other eProcurement solutions to ensure these larger investments are successful. Tealbook has been adopted by Fortune 100 companies across multiple sectors and is the winner of many prestigious awards including Spend Matter 50 Vendors to Watch, Gartner’s Cool Vendor, CIX Most Innovative Company and Most Upside Potential by C100. Tealbook’s mission is to deliver a ‘Trusted Source for Supplier Data’ to an ever-growing procurement space. For more information, visit www.tealbook.com.