Smart Vendor Data – Stephany Lapierre from Tealbook

Stephany Lapierre from rapidly-growing supplier data startup Tealbook joins me on this week's episode of The Procuretech Podcast. We talk about all things machine learning when it comes to getting clean, meaningful vendor data without the need for "push" based solutions from vendors or master data analysts. With poor data and lack of in-house resources or capabilities often cited as a major objection to why firms decide not to purchase enterprise level procuretech for their digital transformation initiatives, this one is a real game changer. Vendor Data: Single Source Of Truth - Stephany Lapierre From Tealbook 1:31 The spark behind what drove Stephany to found Tealbook 4:18 Educating executives of hyper-growth companies of the importance of procurement early on in their growth journey 5:32 What the biggest inhibitor was for these companies when it came to making trusted decisions. 7:31 Why getting 100% visibility of who you do business with, and who you SHOULD do business with, is vital. 9:10 How Tealbook uses big data and machine learning to clean and enrich supplier data, and how this removes reliance on "push" systems of vendor master data management. 11:05 The "eureka" moment for Tealbook and the pivot which changed their direction. 14:14 When you have good data, then the opportunities of what you can utilise it for are endless. 15:06 Case study of improvement in supplier diversity data. Using Tealbook's machine learning dug up 1,600 additional suppliers that were missed through internal audit / validation system in a Fortune 500 company's native reporting mechanism. 17:22 Why digital transformation doesn't succeed on its own, and why poor data will ultimately scupper any enterprise level procuretech software implementation. 18:21 Tealbook as the data foundation that powers the software market, rather than a stand-alone solution. 20:20 If your supplier date is independently in the cloud and is self-enriching, then just plug it in to a 2-way integration. No IT resources or ERP integration necessary. 23:32 Partnering with the larger S2P and P2P software providers, and how this strategy will ultimately help the software providers to remove a common objection (poor vendor data) to signing up to a contract with them. 26:29 Grab your free supplier report for Covid-19 mitigation efforts. 29:20 Webinar series --> check out Tealbook's website for more info. How to connect with Stephany and Tealbook:

• Stephany's LinkedIn profile
• Tealbook's LinkedIn Page
• Tealbook website
• Free Report to help with Covid-19 mitigation

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