ConnXus Releases Next-Level Reporting Tool
Companies Can More Easily Track Their Vendors' Supplier-Diversity Spending
MASON, OH--(Marketwire - Jan 8, 2013) - Corporations trying to track their full use of minority- and women-owned suppliers now have a new tool for their "Tier 2" spending. ConnXus has launched TierTracker™, an easy way to track such activity inside the current ConnXus platform.
ConnXus is a web-based service that helps businesses locate, evaluate and engage small, woman- and minority-owned businesses. Its clients are primarily large corporations, construction firms and others for whom supplier diversity is a key business goal and for whom tracking their "secondary" or Tier 2 supplier diversity spending -- the spending of their prime vendors -- can be difficult.
"The challenges with Tier 2 supplier-diversity reporting today are many," says Rod Robinson, founder and CEO of ConnXus. "Too often, this task is conducted by manually collecting it, manipulating a spreadsheet, and sorting through inconsistent data, which has become so cumbersome it's difficult to track more than a handful of prime vendors.
"Companies needed a standard, easy-to-use system to collect and report the diversity spend of their prime vendors."
TierTracker™ is a patent-pending new feature that allows ConnXus to collect data and manage the tracking process from beginning to end. The system creates customized reports, invites a company's prime vendors to use the portal and then allows them to input their diversity spending into categories the customer creates -- making it easy to standardize among vendors and roll into a company's existing reporting.
TierTracker™ was created after feedback from ConnXus customers who wanted to house all their supplier diversity spending in one place and dive more deeply into their true activity, Robinson said.
"Because our customers' reports are only as good as the data their prime vendors provide, we tried to make it very easy to use," Robinson said. "Our customers range from Fortune 25 corporations to family-owned construction firms, and they all appreciate our comprehensive approach."
About ConnXus: Web-based service ConnXus, based in Mason, Ohio, helps businesses locate, evaluate and engage small, woman- and minority-owned businesses. Corporations register as buyer members and indicate which of the more than 400 products or service categories they need. Small, woman- or minority-owned businesses register as supplier members, indicating the products or service categories they provide as well as their size, areas of expertise and representative customers. Thousands of companies belong to the ConnXus database, and buyer members have posted more than $200 million in contract opportunities for supplier members so far. For more information, go to www.connxus.com.
