Episode 11: Saving the World with Data Tech
By Katherine McCleery | November 30, 2020
While she isn’t exactly saving the world single-handedly, Stephany Lapierre’s passion for digital transformation in procurement is making a massive impact on many organizations through the pandemic. She’s the founder of a supplier data platform that is making a significant impact in the industry and is clearly passionate about what she does. Prior to becoming the founder of Tealbook, she worked at a consulting firm for hyper-growth companies creating strategic sourcing plans and all kinds of incredible procurement solutions. Join the show as she shares her unique perspective and some of the groundbreaking things her company is doing!
[1:31] How the events of 2020 have impacted Tealbook
[3:38] Tealbook’s response to the recent events
[5:56] Thinking about core values
[7:22] Big organizations that want to make an impact with small diverse businesses
[9:54] Two things that the supplier diversity certification brings to the table
[11:23] The benefits of bringing good data to procurement
[14:48] What is a sourcing hero to Stephany?
[17:16] How Tealbook saved one company $25 million in one sourcing event
[20:50] What everyone needed and no one had…until Tealbook
[24:15] Advice for up and coming procurement professionals
[28:34] What’s on the horizon for Tealbook?
What makes people want to work at Tealbook?
The minds at Tealbook think a lot about its values as an organization, its purpose, and how can they make a difference? Because at the end of the day, they’re growing and they’re hiring so they look at what will get people to want to work at Tealbook. They have a motto around pride. Stephany wants people to be really proud to work at the company.
With their data, they help large enterprises save millions of dollars. They help them to be more efficient in their digital transformation. They do a lot of things that their customers can leverage and tangibly see the ROI and they can then communicate to their leadership team. However, that’s not necessarily what makes people come to Tealbook every day. So finding ways that they can give back and truly help is important. To hear more about what makes people want in at Tealbook you’ll have to check out the episode!
Every single supplier, every single business matters
You should know about 100% of your suppliers and you should know about all the suppliers that you don’t know about too! Why? Because you can optimize your own supply chain in a way that can truly drive not just your bottom line but can start driving innovation if you outsource or automate your talent span. It alleviates some of that time to work on more strategic initiatives, but you’re also losing the opportunity to tap into this potential of massive amounts of innovation that come from smaller players. Having visibility, and this dynamic, real-time, unified, synchronized view of all your suppliers so that you can maximize not just by using spending as a driver, but by really understanding all of the levers that you can pull into your supply chain to drive better outcomes based on the priorities of your organization.
Advice for upcoming procurement pros in a quickly evolving industry
There’s still, unfortunately, a lot of antiquated old school ways of thinking when it comes to the playbook and procurement. If you are energetic you may want to start by asking the right questions about the culture and the vision of procurement for organizations you want to work with. Are they at a stage where they’re close or are they in the middle of a digital transformation? What’s working and what’s not working? How are they thinking about data? What’s their data strategy? If they don’t have an answer and most of them won’t know, but then it will give you the tools to say that you know the importance of data, but then asking them their roadmap and what they’re hoping to achieve with procurement. Like what are the top three priorities even? So it’s just asking the right questions to know you’re joining a team that’s more progressive.