There is more to your diverse spend than what your spend reports can show you. Traditional diversity reports focus on organizations' spend data by examining spend with diverse and small business suppliers. TealBook’s Tier 2 Diversity solution takes diversity reporting a level deeper by also examining the suppliers' spend and enabling suppliers to allocate percentages of their diverse spend to their customers. The supplier-allocated diverse spend amounts are shared to the buyers in their Tier 2 Diversity Report.
As part of the Tier 2 Diversity solution, TealBook has created a secure platform where suppliers can load spend data, view their diverse spend report, and share portions of their diverse spend to customers. Suppliers can choose to either upload a spend file for each quarter or enter their total spend amounts for each diversity category per quarter.
When suppliers upload a spend file, TealBook’s AI analyzes the file and matches the Tier 2 suppliers in the file with TealBook supplier profiles. The spend amounts with certified diverse Tier 2 suppliers are then summarized and made available to the supplier for customer allocation.
Tier 2 spend data allocated by suppliers are displayed in the Spend Overview page within the Insight>Tier 2 Diversity tab of the customer's Buyer portal.
Within the Spend Overview page, buyers are shown a snapshot of their Tier 2 Diversity spend report, which looks similar to the Diversity Report. The page also lists the buyer's total supplier-allocated Tier 2 spend for each diversity category as well as a summary of their suppliers' allocations based on the time period selected.
If a supplier allocates Tier 2 diverse spend to a customer in multiple categories, then the supplier company will be shown with each diversity category in the Suppliers Allocation table.
The Suppliers Allocation table shows:
- The name of the supplier who allocated the Tier 2 spend to the buyer.
- The diversity category for which the supplier allocated Tier 2 spend—labeled Tier 2 Type.
- The total Tier 2 spend allocated by the supplier for the specific diversity category within the selected time period.
- The last date that the Tier 2 spend allocation was updated by the supplier.
TealBook's Tier 2 Diversity solution helps create strategic partnerships between buyers and suppliers in their efforts to improve supplier diversity performance and meet diversity targets. Even suppliers who don't hold specific diversity qualifications, can increase their competitiveness by sharing their Tier 2 diverse spend to their customers, giving buyer organizations the opportunity to maximize their supplier diversity efforts and reach their targets.
The Tier 2 Diversity Guide includes the following articles:
What is Tier 2 Diversity reporting — you are here