Certification as a diverse supplier is available to U.S. companies that can demonstrate a controlling interest by members of one of four ethnic or racial groups, as defined by the Small Business Administration, including African Americans, Asian Americans, Hispanic Americans, and Native Americans (collectively, Ethnic Minorities), as well as women, veterans, the disabled, and members of the LGBT community.
For those companies who qualify, becoming a certified diverse supplier can offer numerous benefits:
- Gain access to new sales opportunities
- Create a new point of market differentiation
- Improve contract expansion
- Enhance your corporate image/brand/culture
- Attract and retain employees
- Appeal to shifting demographics
- Build consumer loyalty and market share
- And more
For diverse private equity firms and their portfolio companies
Our iCert is the one diverse certification solution that is specifically designed to support the private equity ecosystem.
For corporations
By expanding the universe of available diverse suppliers, iCert helps you better meet the objectives of your diverse supplier program.
“Developing a diverse workforce and supply chain fosters innovation, creates economic opportunities, provides better access to talent and improves business performance.”
Larry Merlo | President and CEO | CVS Health
DIVERSE CERTIFICATION IS GOOD BUSINESS
Attaining official status as a certified diverse supplier qualifies your company to meet supplier diversity program objectives for America’s top corporations.
Good for sales
Up to 10% of sales come with supplier diversity requirements and companies that allocate 20% or more of their spend to diverse suppliers, attribute 10% to 15% of annual sales to supplier diversity programs
Hallmark of top-performing corporations
Companies with world-class procurement organizations devote 33% more spend to diverse suppliers, compared with the average company
Lower cost and higher ROI
Companies with supplier diversity programs spent on average 20% less on buying operations compared to similar companies operating without these programs
Source: Supplier Diversity Study, The HackettGroup, 2016
