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Diversity Spend Capture Service by Net2Source (1)

Empowering Inclusion Through

Diversity Spend Capture

At Net2Source, we are dedicated to helping organizations achieve their diversity and inclusion goals through our Diversity Spend Capture solutions. As a certified minority-owned business, we provide a single invoicing option that consolidates all workforce management expenses, simplifying the process of converting spend into recognized diverse spend. With a global reach and compliance with local labor laws, we deliver a streamlined approach to managing workforce diversity spend. Partner with Net2Source to simplify your processes and make a measurable impact on your diversity and inclusion initiatives.

Reasons to

Choose N2S for Diversity Spend Capture

Wider pool of talent Comprehensive Data Analytics

Leverage our advanced data analytics to gain a clear understanding of your diversity spend. Our tools help you identify opportunities, track performance, and make data-driven decisions to maximize the impact of your supplier diversity programs.

Recruitment Expert - N2S Tailored Solutions for Your Needs

We understand that every organization is unique. Our customized Diversity Spend Capture solutions align with your business goals, ensuring you achieve measurable results without disrupting existing processes.

Time and cost savings Industry Expertise

With years of experience in workforce solutions and supplier diversity, Net2Source is your trusted partner. Our team combines deep industry knowledge with innovative practices to help you stay ahead of evolving diversity standards.

Flexibility End-to-End Support

From identifying diverse suppliers to reporting progress, we provide holistic support at every stage. Our experts work closely with your team to streamline operations and ensure a seamless diversity spend management process.

Onboarding support Compliance and Reporting

Stay compliant with government regulations and meet corporate diversity benchmarks with ease. Our robust reporting tools and audit-ready documentation ensure transparency and accountability in every dollar spent.

Risk management Commitment to Driving Impact

At Net2Source, we believe in creating meaningful change. Partnering with us means aligning with a company committed to empowering diverse communities and fostering inclusive growth for a better future.

Case Study

Leveraging

Diversity Spend Capture for Inclusive Growth

A global manufacturing company aimed to enhance its supplier diversity program to align with its corporate social responsibility (CSR) goals and meet increasing regulatory requirements. The organization sought a solution to track and manage its diversity spend effectively while fostering stronger relationships with diverse suppliers.

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Challenges in Managing and Expanding Supplier Diversity

The company faced challenges in identifying and categorizing diverse suppliers within its existing vendor base. Inaccurate reporting and a lack of centralized data made it difficult to measure diversity spend, assess progress, and demonstrate compliance with diversity initiatives. The organization also struggled to identify opportunities to engage with new diverse suppliers, limiting its ability to expand its inclusive supply chain practices.

Transforming Supplier Diversity with a Customized Approach

By implementing a customized Diversity Spend Capture solution, the company was able to:

  • Consolidate supplier data across multiple systems into a single, centralized platform.
  • Identify and verify diverse suppliers using advanced analytics and external certifications.
  • Generate comprehensive, audit-ready diversity spend reports to meet regulatory and internal benchmarks.
  • Provide actionable insights and recommendations for increasing engagement with diverse suppliers.

Net2Source’s team worked closely with the company to streamline its processes, integrate new tools seamlessly into existing workflows, and ensure accurate, real-time tracking of diversity spend data.

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Transforming Diversity Spend into Sustainable Growth

The company achieved a 30% increase in its diversity spend within the first year, surpassing its initial benchmarks. Enhanced reporting capabilities allowed the organization to demonstrate compliance with regulatory requirements and bolster its reputation as an advocate for inclusion. Additionally, the streamlined processes and insightful data enabled the company to foster long-term partnerships with diverse suppliers, driving sustainable growth and innovation across its supply chain.

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YOU MAY NEED TO KNOW

Frequently Asked Questions

Why Diversity Spend Capture is important?

Diversity Spend Capture is the process of tracking and analyzing your organization's expenditures with diverse suppliers. It helps businesses meet compliance requirements, achieve supplier diversity goals, and drive inclusion while fostering innovation and community impact.

How does Net2Source support diversity spend tracking?

Net2Source provides a comprehensive solution that includes advanced analytics, data centralization, supplier verification, and tailored reporting tools. Our services streamline the process and offer actionable insights to maximize the value of your diversity spend.

What types of suppliers are considered ‘diverse’?

Diverse suppliers include businesses owned and operated by underrepresented groups, such as women, minorities, veterans, LGBTQ+ individuals, and persons with disabilities. Verification of their diversity certifications is part of the process.

Can your solution integrate with our existing procurement systems?

Yes, our Diversity Spend Capture solution is designed for seamless integration with your current procurement and vendor management systems, ensuring minimal disruption while centralizing data for better visibility.

How does this service help with compliance?

Our solution ensures your organization meets regulatory and corporate requirements by providing detailed, audit-ready reports that demonstrate compliance with diversity benchmarks and guidelines.

What industries can benefit from Diversity Spend Capture?

Diversity Spend Capture is valuable across industries, including manufacturing, technology, healthcare, retail, and more. Any organization aiming to enhance its supplier diversity program can benefit.

 

What kind of results can we expect from implementing this service?

Organizations typically see improved tracking accuracy, increased diversity spend, enhanced compliance, and stronger relationships with diverse suppliers. These outcomes contribute to sustainable growth and a more inclusive supply chain.

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