Why get certified
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 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
We streamline the process
The certification process can be challenging. we have a proven process in place to handle all the details on your behalf. We’ll guide you through the entire process including steps you can take to help assure you qualify, help with preparation of required documentation, and maintain total security of sensitive ownership information. As a result, you can attain certified diverse supplier status as quickly as possible with the least effort on your part.
And maximize the rewards
Getting you certified is just step one. No less important, we provide you with a detailed marketing playbook on the specific steps your company can take to best capitalize on diversity certification. It will show you how to strategically navigate the diversity ecosystem, secure incremental revenue opportunities, and more.
We can also provide whatever implementation support you need to increase speed to market, such as:
- Prepare brand messaging strategy integrating/leveraging certification as a diverse supplier
- Creation of an account-based outreach campaign to engage senior executives
- Assist in setting up the technology infrastructure for outbound diversity marketing
Most companies are able to achieve very quick ROI as the modest investment required is usually recouped in one or two sales opportunities that directly result from becoming diversity certified.
“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
DIVERSITY CERTIFICATION IS GOOD BUSINESS
Attaining official status as a certified diverse supplier qualifies your company to meet corporate supplier diversity program objectives for America’s top public and privately owned companies, plus universities, hospitals and other buying institutions.
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
