JAGGAER and Tealbook Team up to Give Procurement Professionals Fast Access to Reliable Supplier Data
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- Press Release
Research Triangle, NC and Mountain View, CA, – January 7, 2021 – JAGGAER, the leading independent spend management company, and Tealbook Inc., the “Trusted Source of Supplier Data” today announced a new partnership to provide enriched supplier data for JAGGAER customers through access to Tealbook’s Supplier Intelligence Platform. The collaboration enables JAGGAER’s customers to find new suppliers and access accurate and comprehensive supplier information, including diversity status, compliance, certifications and more, providing JAGGAER with a competitive advantage over other portal-based supplier information, community insights and networks that come with traditional S2Ps.
Access to accurate supplier data is a huge challenge for most enterprises, hindering decision-making, innovation and resilience. Through this unique partnership, JAGGAER customers will have access to autonomously enriched supplier data tagged with diversity status, compliance and certifications linked to suppliers’ profiles within Tealbook’s Supplier Intelligence Platform. This collaboration will also enable JAGGAER customers to automate supplier profiles, removing the dependency on suppliers to update their information. Suppliers will have their profiles self-maintained in Tealbook as a complement to the JAGGAER portal.
“Access to Tealbook data, which is updated continuously and autonomously through machine learning technology, will allow JAGGAER customers across multiple vertical industries to make better decisions about suppliers faster and more easily than ever,” commented Jim Bureau, CEO, JAGGAER.
“Many of our customers are currently exploring options to diversify their mix of suppliers for a number of reasons, including the need to reduce risk, especially in response to the pandemic, and the pursuit of environmental, social, and corporate governance (ESG) objectives. Partnership with Tealbook will give customers the confidence to respond quickly to changes and opportunities by moving reliable supplier data to upstream decision-making processes. More broadly, these capabilities are yet another step forward in our march toward fully autonomous procurement, relieving both buying organizations and suppliers of the onerous burden of manual data updates,” Bureau added.
Longer term, JAGGAER and Tealbook will set out a roadmap for full integration of their respective software platforms.
Tealbook’s supplier data foundation offers an innovative and easy-to-implement approach to autonomously gathering and validating supplier information from over 400 million websites and 600 data sources. The platform helps organizations avoid supply disruptions in times of crisis, support strategic objectives like increasing spend with diverse suppliers and improve the quality and savings from strategic sourcing, especially in new categories where there is less knowledge of the market.
“Even with millions of dollars of investments in cloud S2P solutions, 93%* of supply chain and procurement executives are experiencing negative impacts to their business on a regular basis due to misinformation and poor supplier data,” commented Stephany Lapierre, CEO of Tealbook. “This includes financial loss, delayed timelines and projects, unhappy internal and external customers, termination of supplier relationships and more. The solution is Tealbook, a trusted data foundation that can be leveraged by eProcurement solutions to ensure these investments are successful.”
“We are thrilled to partner with JAGGAER to enhance JAGGAER ONE’s Spend Management Platform with the power of AI generated supplier data and our advanced supplier network,” Lapierre added. “This collaboration will allow JAGGAER customers to enhance supplier data and gain access to their entire supplier base, reducing the need for data enrichment services and dependency on suppliers to enrich and maintain portals. This partnership will enable JAGGAER customers to better utilize the spend management platform to create real-time access to their entire supplier base while expanding their vendor data to quickly identify suppliers that meet their requirements, gaining intelligence, speed and agility.”
*Source: Wakefield Research
About JAGGAER: Procurement Simplified
JAGGAER is the world’s largest independent spend management company, connecting customers to a network of 4 million suppliers in 70 countries, served by offices located in the Americas, APAC, Asia and EMEA. JAGGAER offers end-to-end SaaS-based procurement solutions, including advanced Spend Analytics, Category Management, Supplier Management, Sourcing, Contracts, eProcurement, Invoicing, Supply Chain Management and Inventory Management. These all reside on a single platform, JAGGAER ONE. JAGGAER has pioneered spend solutions for more than two decades and continues to lead the innovation curve by listening to customers and stakeholders in all industry sectors, public services and academia. JAGGAER holds 37 patents – more than any other spend management company.
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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 Matters 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 of Supplier Data’ to an ever-growing procurement space. For more information, visit www.tealbook.com.
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