The partnership will also work to boost trust in data for suppliers, and help with risk assessment.
By integrating Tealbook’s supplier foundation with its own artificial intelligence (AI)-powered platform Beroe LiVE.Ai, Beroe will help procurement to move beyond traditional supplier shortlisting and into on-demand supplier discovery.
That will aim to help procurement save up to 75 percent of the time that used to be spent on identifying and profiling suppliers.
“I am excited to launch a strong and productive partnership with Beroe, as it will enable us to merge our two rich data sets, combining Tealbook’s global supplier networks with Beroe’s data and supplier risk analysis,” said Stephany Lapierre, CEO of Tealbook. “This combination creates a unique intersection of rich data capabilities that will propel the procurement industry forward in a powerful way.”
Beroe LiVE.Ai works as a platform for procurement and sourcing professionals, and gives access to market intelligence, supplier risk information, category benchmarking supplier discovery.
Beroe Chief Executive Vel Dhinagaravel said the new partnership would help “enable supplier discovery, longlisting, and shortlisting on Beroe LiVE.”
“Our commitment to enabling procurement decisions with the right data and right intelligence in the right context is bolstered by partners like Tealbook, the world’s largest, curated supplier database of supplier information,” he said, according to the release.
Gary Conroy, chief product officer of TransferMate, spoke with PYMNTS recently about the difficulties faced by supply chains in the new pandemic environment. Digitization of those chains, according to Conroy, could be the answer because they could help with surviving the current times while also bolstering B2B relationships.
While automating previously manual elements of the chain is a strong idea, Conroy said the most successful firms will reimagine from the ground up, including allowing remote work and diversifying vendors to minimize risk, while boosting data collection.