TEALBOOK
“People change , situations change , information changes . So you can see how that problem gets out of scale very quickly ”
ARNOLD LIWANAG CTO , TEALBOOK
TealBook ’ s singular centralised ‘ source of truth ’ provides CPOs with an excellent opportunity to get a global view within their enterprises , and even within different departments and divisions . TealBook also possesses a super set of information on supplier data that it can inject and merge with internal operational system data sets , further enhancing systems that CPOs are already invested in .
TealBook in the procurement ecosystem According to Liwanag , procurement , as a function in an organisation , has been transformed from being more cost-centreoriented to now being innovation-driven , guiding or driving transformation within the business in a more proactive sense . The scope of impact that a modern procurement function has on the organisation is massive .
“ The amount of spend that procurement is responsible for is enormous . And often it can run up in the billions . The expectation is now to drive innovation with the supplier base , using data as the foundation for being able to do that . A very important trend and it ’ s what we ' re bringing to the table for procurement leaders ,” said Liwanag .
He added that outside of the portal approach , which is the typical model that a lot of technology players in the procurement space use , TealBook also uses AI methods and engineering techniques to autonomously collect a lot of that information , from public , private , and proprietary sources .
“ We ' re very strategic and creative about how we apply these different methods . We aggregate , integrate , and normalise that data set into a strong source of truth . And then ,
162 April 2022