Many companies find it challenging to meet supplier diversity goals, but leading organizations show that a more inclusive supplier base can be built without increasing costs. In fact, companies that spend more with minority‑ and women‑owned businesses achieve additional savings in total procurement expenses. These leaders are also more efficient, using practices such as higher rates of preapproved spending, greater adoption of electronic purchase orders and invoicing, and faster requisition‑to‑order and invoice approval processes. By improving discipline and digitization, companies can boost supplier diversity while improving speed, efficiency, and overall procurement performance.

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