Growing into 2017
My team and I have spent the last two years uncovering the real challenges created by poor supplier data, lack of shared supplier knowledge across organizations, and inefficient supplier discovery processes. We wanted to know exactly how tealbook fits within existing systems and to capture the value of optimized supplier intelligence, discovery, and identification for procurement teams and their internal stakeholders.
We sponsored surveys, held roundtable and advisory board meetings, and collaborated with procurement professionals on articles and a whitepaper. We asked questions and listened carefully so that we could build a platform to solve the unmet need across procurement teams and their organizations.
Our ability to integrate feedback from procurement professionals. internal stakeholders, and suppliers enabled us to win 6 large enterprise customers within the first year. Our outreach generated curiosity and interest among procurement leaders interested in changing the status quo and bolstering their collective supplier intelligence to increase collaboration, speed, and value to the business.
We are entering 2017 with a robust pipeline of new customers and the burning desire to be the best in class source of peer-driven supplier knowledge and intelligence for enterprise. With the help of our customers, tealbook is building the most trusted and valuable supplier community by inviting their suppliers to enrich and manage their information in one place. So far, our initial outreach has led to over 10% of suppliers updating their profile . We are confident that invitations from multiple clients and increased multi-channeled awareness of tealbook’s unique value will rise supplier adoption as we reach over 2 million suppliers in 2017.
As I look into the future, there are two important factors that will drive our continued success and scalability:
1) TECHNOLOGY: We will provide a best in class platform that uses machine learning and AI to provide value, leading to predictive intelligence and strong adoption by all users, and
2) EXECUTION: We want to offer a painless implementation and an overall experience that turns our clients, suppliers, and employees into raving fans.
To support the above, I am honored and excited to welcome Geoff Peddle (CTO) and Ian Woodbury (COO) to the tealbook executive team. I can’t think of two more qualified partners to join the next phase of our journey to significantly improve supplier intelligence and discovery. They are the real deal. They bring the experience, the focus and commitment needed to support our growth. I am excited for the opportunity to lean on and learn from them as my role becomes that much more focused on our customers, building industry-wide advocacy and drive our vision forward.
Please join me in welcoming Geoff and Ian to our team!