tealbook CEO Stephany Lapierre on negotations.ninja Podcast
tealbook founder and CEO Stephany Lapierre appeared on Mark Raffan’s negotiations.ninja podcast, where she spoke about her innovative approach to supplier intelligence and its significant value in negotiations. Some highlights from the stimulating discussion are below, and the full episode can be listened to here.
On what Stephany hears from leading procurement professionals
Stephany touched on some of the common themes and interests from CPOs and procurement executives. During tealbook roundtables, there is much discussion about the upside of supplier intelligence, and how this will change the structure, hiring processes, and best practices in procurement—and how procurement executives can stay ahead. In an industry Phil Ideson has called “ripe for disruption”, procurement professionals want to know how they are doing on their digital journey, what specific challenges they need to overcome, and how to position the procurement function and value they contribute to their organization.
On supplier intelligence as leverage in negotiations
“Data is leverage,” explains Stephany. If you have access to data—the right type of data—the insight you need to create value and drive more educated conversations is at your fingertips. This intelligence provides an extra element of leverage in procurement, and can add significant value pre-negotiation, meaning more knowledge of options once negotiations commence. Stephany explains that this knowledge is power, whereas traditional supplier intelligence that exists in a disaggregated state means more time spent to achieve leverage and potential opportunities are missed.
On how tealbook leverages the intelligence organizations already have
“We call it personalized supplier identification and qualification because a lot of the data, it’s already within the organization,” says Stephany. Procurement professionals bring their knowledge from years of experience, their network, and other companies. The hurdle is that this knowledge often isn’t shared or used to its full potential. “What we leverage is the intelligence you have in your organization. You can get deeper insights into the suppliers you’re currently doing business with so you can leverage them more effectively across growing areas of demand within your organization.” By using tealbook, the insight, relationships, connectivity, and supplier knowledge of a team can be continuously shared between people and the enterprise to make strategic decisions.