Introducing Gainfront-Diversity

Your Goals

Advantages of incorporating supplier diversity in procurement.

Organizations recognize that ignoring diversity cuts into profits and costs them talent, innovation and customer loyalty that diverse suppliers can bring. One barrier that businesses often identify as preventative to selecting more diverse suppliers is increased cost. Research shows that benefits outweigh the cost. A 2015 study by The Hackett Group indicates Supplier diversity can add an average of $3.6 million to your bottom line for every $1 million in procurement costs.

Following are key Goals to set up a robust diversity program and how Gainfront can help.

Goal 1: Diversity Plan – Establish Corporate Policy and top corporate management support.

Gainfront has highly customized dashboards for leadership to see overall savings with diversity spend; Ties supplier diversity program to the overall procurement process. Gainfront customers have seen a 46% increase in diversity spend and 26% increase in overall savings.

Goal 2: Establish goals for all divisions.

Gainfront’s Tier One process allows you to set and track goals by various diversity classifications and accurately manage direct and indirect spend reporting with automated allocation factor calculation.

Goal 3: Develop a corporate minority supplier development plan.

Gainfront offers a highly customized Prime program to achieve diversity goals. Gainfront shows a 40% increase in prime reporting trend and 30% increase in Tier 2 spend.

Goal 4: Establish comprehensive internal and external communications.

Gainfront’s robust News, Events and Opportunities module allows efficient communication with suppliers. You can further build a strong supply chain by integrating Gainfront’s’ SRM (Supplier Relationship Management ) solution. Allows buyers to send and receive information, automatically, while attending tradeshows.

Goal 5: Identify Opportunities for minority and other diverse enterprises in strategic sourcing, supply chain management and procurement processes.

Gainfront database (QLeads) offers net new diverse suppliers. Invite them to RFPs using the Gainfront RFx module.

Goal 6: Establish a comprehensive minority supplier development process with integrated sustainability, compliance and performance goals.

Gainfront’s SRM module manage and tracks supplier performance, sustainability and compliance in all areas.

Goal 7: Establish a second Tier program to achieve diversity goals.

Gainfront’s robust Tier 2 process with concierge service manages all prime spend with automatic notifications to monitor primes through reporting periods. Set goals and monitor progress to target. Includes reporting to Non-Government and Government Agencies.

Gainfront is AI/MLAI enabled and integrates with all ERP and Information systems. Gainfront minimizes your organization’s procurement costs, optimizes procurement savings with a robust supplier diversity program.