While more than 80 percent of Fortune 100 companies in the United States have supplier diversity programs, less than 60 percent report how much they spend on their supply chain diversification strategy and such initiatives and most only source about 10% of their products and services from diverse suppliers.
Supplier diversity programs are an important step toward economic equality, racial justice, anti-discrimination, and innovation in the business sector, yet many companies are not effectively tracking and utilizing these programs.
After decades of experience in the media and entertainment industry, the team behind Datalou realized that this sector needed a scalable, adaptable and comprehensive solution for supplier diversification and for connecting media agencies with creative suppliers. Using feedback from our network of clients and partners, we have developed a platform to meet the evolving needs of this industry and help us work toward more fair and equitable representation. The result is a multitenant, web- enabled, permissions based, secure platform with over 100,000 creative, advertising and media suppliers.
Here are five reasons why your media or entertainment agency should consider using Datalou to diversify your supply chain.
- Supplier Tracking Capabilities. Our platform allows businesses in the media and entertainment industries to track the supplier journey from being located (sourcing) to getting the contract (award). This robust tracking and reporting system helps you document spending and sourcing efforts, manage certifications, and share data with stakeholders.
- Internal Spend Tracking Capabilities. For monitoring the agency’s overall performance and supplier diversity spending by classification type, this report does just that. Great to use when responding to RFPs or when you would like to publish your agency’s contribution to diverse supplier communities.
- Diverse Media Reporting. Designed by industry professionals, our system captures all media types including influencers, ad tech, and content providers while providing users with a suite of media reports used by diversity, compliance, strategy, and implementation teams.
- Access More Suppliers. Datalou is the only supplier diversity management system that has a database of more than 100,000 suppliers with specific skills and capabilities in advertising, marketing, communications and media.
- Multiple Financial Systems Data Integration. Datalou enables you to import and integrate data from multiple financial systems across your organization and seamlessly develop reports that reflect the data from multiple sources without additional work performed by the user.
Datalou’s SaaS is a scalable platform designed with agencies in mind for a truly tailored fit with quick turnkey applications. To learn more about our platform and capabilities, contact us today.