The future of Procurement technology

Procurement Technology will become in the near future an ecosystem of best of breed micro-service apps API connected, as outlined by Dr. Elouise Epstein months ago.

Indeed, one year ago Dr. Elouise Epstein , Vice President of Kearney, positionned Tealbook Inc. as the data foundation of the extended enterprise. Why that? Because Tealbook is well managing 3 mission-critical components for a SaaS editor :

  • User experience, a must to maximize adoption,
  • Data integration, a must to maximise usage and create value
  • quality of data.

Those 3 points and in particular the last one are enabling Tealbook to be considered by analyst as a trusted foundation of supplier data.

Kearney e-procurement ecosystem - Trusted supply chain data
eProcurement ecosystem – Kearney

The benefit of managing properly those 3 mission-critical items, as well as enriching data is considerable. It maximises adoption, usage and as a end-result, value:

  • innovation, using trusted source supply chain data
  • benchmarking, productivity, automation, predictive insights, supplier performance improvement etc…
  • new opportunities for cost savings
  • social responsibility (CSR) ans sustainability performance
  • compliance with corporate guidance
  • Reduced supply risks

On the map, software editor names are not so important but their function, i.e. the specific value they are bringing to the ecosystem.

About Tealbook : Unleashing procurement possibilities with the power of dynamic supplier data, TealBook is the leading supplier data foundation. Tealbook autonomously maintains supplier master data, powers e-procurement technology, drives supplier diversity, and enables supplier performance. In fact, using AI and ML, TealBook gathers, predicts, and refines supplier data to build the world’s most comprehensive supplier intelligence.

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