CVM is pleased to announce its new Supplier Diversity Data Enrichment capability. Available September 1, this new service provides the most accurate certification information that supplier diversity managers need on their suppliers so they can manage their programs effectively. Some of the benefits of the Data Enrichment service include:
- Rapid results – enriched data is available in less than 5 days the first time, and then within 10 seconds any time you want. No long waits.
- Monthly alerts – pushed to your desktop, tablet or mobile device regarding any changes to your suppliers
- Powerful online platform – that your buyers can use to find your diverse suppliers, quickly
Having accurate supplier data is central to knowing if your diversity and supply chain programs are having an impact. Accurate reporting is necessary for measuring progress towards goals, and for compliance with customer requirements. Unfortunately, diverse ownership status across corporate supplier databases is often outdated and difficult to maintain – there are duplicate entries, incorrect or outdated certification data, and a lack of processes to update the data.
Building off the CVM Diverse Supplier Database - the largest and most accurate database of certified diverse suppliers with over 1.6 million small and diverse certifications - this new service allows buyers to upload their current supplier data in virtually any format. Then, in three to five days, clients receive back an up-to-date enhanced file that they can have high confidence in, ready to upload into internal systems or spreadsheets. Diverse supplier certifications are also constantly updated from this point on and can be downloaded from CVM at any time to keep buyer source systems accurate.
CVM has improved our automated processes, but we have not forgotten our focus on service and quality that ensures we work beyond the initial matching and data enhancement effort, to correct errors, address invalid matches and other gaps to maximize the match rate and the quality of the results. “Our Client Success teams work closely with our clients to ensure we are going beyond a one-time enrichment mindset to assure our clients have access to the latest data whenever it is needed” adds Neeraj Shah, CEO of CVM, a supplier.io company.
“Our Client Success teams work closely with our clients to ensure we are going beyond a one-time enrichment mindset to assure our clients have access to the latest data whenever it is needed” adds Neeraj Shah, CEO of CVM, a supplier.io company.
Proper classification of diverse suppliers saves time for the buying staff and allows supplier diversity teams to focus on strategic initiatives that grow their programs. This means they can focus on key commodities, forge stronger relationships with key diverse suppliers and increase spend with those most qualified. This leads to stronger program results and impact and adds savings, sustainability, and innovation while reducing risk to our customers’ supply chain.
“Since our two companies came together in May, we have been working to incorporate the best features of the services to strengthen our client offerings. This improved Supplier Data Enrichment and Reporting Service is the first of several product upgrades and new to market capabilities that we will be announcing over the coming months. This state-of-the-art service is available now for all our clients that have enrichment needs. It can also be purchased as an entry service into our family of capabilities for new clients” adds Neeraj Shah.
“Since our two companies came together in May, we have been working to incorporate the best features of the services to strengthen our client offerings. This improved Supplier Data Enrichment and Reporting Service is the first of several product upgrades and new to market capabilities that we will be announcing over the coming months." - Neeraj Shah.
More about CVM’s Supplier Data Enrichment and Reporting Service
Tap into the largest and most accurate database of certified small and diverse suppliers
Our database aggregates data from over 230 certification agencies. With over 1.6 million active certifications, you can be assured to receive the latest information on all your diverse suppliers.
Get your data enrichment results in days
Generate your management and customer reports with time to spare when you receive the results of your data enrichment in as few as three days. You no longer need to use outdated data or wait weeks to have your spend reports updated. On average, our customers reduce their reporting time by over 73% by using our data enrichment solutions.
Automatically update information on your suppliers every month
Has it been a while since your last enrichment? With our data enrichment, you never have to worry about out-dated certifications. Get instant updates on all your suppliers by downloading the latest data from Supplier Explorer.
Do you want to know if your top diverse suppliers do not renew their certification? Our monthly alerts not only alert you to suppliers that will expire in the upcoming month but also alert you when suppliers do not renew their certifications.