Struggling with outdated and inaccurate supplier databases?

You are not alone.

Keeping your supplier data current and sourcing reliable, low-risk partners is a constant challenge, especially in rapidly changing market conditions.  

That’s exactly why we’ve created this guide.

To explore five leading supplier intelligence solutions that can streamline your procurement process and give you all the insights you need to make informed decisions.

We’ll cover each solution’s key features, benefits, and ideal use cases, helping you choose the perfect tool for your own needs.

Veridion

We start with Veridion, our next-generation supplier intelligence platform powered by AI and machine learning.

Unlike traditional databases, Veridion continuously gathers and updates supplier data from across the entire internet—including public registries, corporate websites, social media, and news sources.

With a database of over 120 million suppliers across 240 locations globally, our platform ensures that businesses access only the most up-to-date and relevant supplier insights.

Source: Veridion

As for the depth of data, our data engine provides over 80 data points per supplier, covering aspects like:

• Locational data
• Financial metrics
• Product and service information
• Environmental, Social, and Governance (ESG) metrics

Exploring and utilizing Veridion’s large database is made simple through just two APIs, our Match & Enrich API and the Search API.

Source: Veridion

The former is used to enrich your existing supplier profiles with fresh data.

The latter isolates the specific vendors you need using any criteria you input, including historical performance, financial stability, or sustainability compliance.

Take a look at the next image for an example of the Search API in action.

Source: Veridion

For an even more streamlined supplier discovery experience, our Scout solution lets you search for suppliers using natural language—no complex filters required.

Whether it’s direct or indirect sourcing, or even when you’re looking for suppliers offering specialized or custom solutions, Scout makes it simple.

Source: Scout

Unlike Qualifyze or Supplier.io, Veridion isn’t limited to a specific industry or use case.

Instead, it provides broad coverage across all industries and supplier attributes, making it a powerful intelligence platform no matter your needs.

Veridion’s data quality speaks for itself—our data is trusted by commercial insurers, global consulting firms, and Fortune 500 companies like PepsiCo.

For pricing, our team offers tailored solutions based on your business requirements, so feel free to contact us.

In short, if you’re looking for the most comprehensive, regularly updated supplier data in an easy-to-access platform, Veridion stands out as the top choice.

Qualifyze

Second on our list is Qualifyze, a platform specializing in supplier compliance and quality management—particularly for industries with strict regulatory requirements.

In 2023, Qualifyze raised $12 million to expand its focus on the pharmaceutical sector, building the largest pharma supplier database, now covering over 24,000 suppliers worldwide.

Source: Qualifyze

While it primarily serves the pharmaceutical industry—supporting over 1,000 businesses across 85 countries—it’s also used by companies in medical devices and food manufacturing.

A notable feature is its Supplier Intelligence suite, which offers the following:

• Performance insights
• Forecasting potential risk
• Supplier compliance data
• Supplier performance benchmarks

This set of features helps organizations compare compliance and quality performance among their suppliers.

Qualifyze supports detecting underperforming suppliers, while also helping organizations proactively find and mitigate potential risk areas.

Another very helpful feature is Qualifyze’s Global Audit Library.

It provides instant access to an extensive database of Good Practice (GxP) audit reports covering various compliance standards such as GMP, GDP, and GCP.

Source: Qualifyze

This platform doubles as an audit management solution, aimed to streamline the entire audit workflow, integrating customers, suppliers, and auditors into a unified system.

Qualifyze’s specialized focus, combined with its auditing capabilities, makes it a unique option on our list.

While platforms like Veridion and Craft offer broad supplier intelligence across industries, they don’t provide the same depth of compliance data for these highly regulated sectors.

Whether this is an advantage or a drawback depends on your industry and business needs.

Regarding pricing, SoftwareAdvice reports that Qualifyze does not offer a free version or trial, with prices starting at €1,000 per year.

However, since Qualifyze’s official website does not confirm this, it’s best to contact them directly for a quote.

Ultimately, if you are operating in this specific niche and need to mitigate supplier-related risks through audits and quality performance data, Qualifyze stands out as the best platform for the job.

Craft

Craft is another platform that provides procurement teams with highly accurate and comprehensive supplier data.​

The core strength of Craft’s Supplier Intelligence solution lies in its extensive data coverage.

Source: Craft

It aggregates information from a wide range of sources to create detailed supplier profiles with over 500 metrics per company, including:

• ESG data
• Geopolitical risk
• Financial information
• Cybersecurity insights
• Regulatory & Compliance data

With this solution, you get a broader scope of information compared to platforms like Supplier.io or Qualifyze, which focus on specific aspects like supplier diversity or performance.

However, for smaller companies with limited procurement needs, the breadth of data may be more than necessary.

To ensure you find the right suppliers, Craft offers a granular search with over 25 filters, although not much more information is available on the specifics.

So, it’s worth comparing Craft’s search capabilities with the natural language search and Search API offered by platforms like Veridion.

In any case, a standout feature is Craft’s supplier comparison tool, allowing procurement teams to conduct side-by-side evaluations of vendors based on key metrics.

Source: Craft

This feature is available to try for free, although detailed company insights will only be available if you use Craft’s full supplier intelligence features.

Beyond supplier intelligence, Craft is also a full risk management solution, leveraging its extensive supplier data to give organizations a 360-degree view of their supplier base.

Source: Craft

Its real-time monitoring and alert system tracks key risks, such as financial instability, compliance violations, and operational threats, ensuring businesses can react immediately to potential disruptions.

However, keep in mind that Craft’s Supplier Intelligence and Risk Management solutions are separate products, which may require additional payments.

Pricing information for Craft’s different solutions is only available upon request.

All in all, Craft is a comprehensive supplier intelligence platform, offering detailed insights and robust risk management features for companies with extensive supplier data needs.

Supplier.io

Supplier.io is a supplier intelligence provider focused primarily on supporting supplier sustainability and diversity initiatives.

With a database of over 10 million suppliers—including small, diverse, and sustainable businesses—the platform provides access to 350 million supplier insights and data points to support responsible sourcing.

Supplier.io’s offerings are divided into three segments, centered around tracking, finding, and measuring the impact of sustainable sourcing:

• Supplier visibility
• Supplier sourcing
• Impact analysis

In terms of supplier visibility and sourcing, this provider offers powerful data enrichment services along with a Supplier Explorer that helps you uncover vendors with the right sustainability attributes for your needs.

Source: Supplier.io

For supplier discovery, features like TrustIQ help assess past supplier performance and corporate customer experience.

Combined with advanced search filters, these tools allow you to pinpoint suppliers based on highly specific criteria.

While Supplier.io excels in sustainability and diversity insights, its data is more limited compared to platforms like Veridion and Craft, which offer broader supplier intelligence.

However, what sets Supplier.io apart is its extensive reporting and benchmarking capabilities.

For example, you can use its diversity benchmarks to compare your own diversity spend percentage and the percentage of diverse suppliers with best-in-class businesses.

Source: Supplier.io

Plus, you get category-level insights to discover the specific areas where your efforts fall short, along with recommendations on specific suppliers you might want to source from.

Beyond these, impact reports deliver tangible metrics on the effectiveness of your sustainability and diversity programs, giving you a clear picture of your progress.

Source: Supplier.io

Ultimately, Supplier.io fits into the niche intelligence category, much like Qualifyze.

If in-depth sustainability data and reporting aren’t essential for your business, or if you don’t actively manage diversity programs, you may not get the full value from this platform.

Pricing information is available on request, but it’s known that data enrichment services start at $1,500 for up to 1,000 records, with additional records processed at $1.50 each (up to 2,000 records total).

All in all, if sustainability is a priority, Supplier.io is a powerful tool worth exploring.

TealBook

Finally, we have TealBook, a platform leveraging artificial intelligence and machine learning to autonomously aggregate, centralize, and consolidate supplier data.

This system aims to provide procurement teams with a full and accurate view of their supplier base, enhancing decision-making and operational efficiency.​

TealBook’s key offerings include:

Teal iQ	Vendor master data management solution, offering unified supplier data, duplicate detection and correction, and automated data enrichment.
Aime	A generative AI assistant developed specifically for procurement teams.
Supplier Data Platform (SDP)	A system for data collection, enrichment, and distribution across integrated systems.

Let’s focus on the core offering—TealBook’s SDP.

SDP takes data from structured and unstructured public sources, trusted data partners, and your own vendor and spend data, and enriches and refreshes this data continuously.

Source: TealBook

TealBook makes a cloud-based data layer of verified and accurate data that is then fed to all of your existing procurement systems.

To ensure confidence in the accuracy of supplier attributes, TealBook provides data TrustScores, ranging from very high to very low.

These scores reflect the level of verification based on multiple credible sources, including certified bodies, government databases, and proprietary datasets.

Source: TealBook

The goal is to validate and authenticate vendor data in real time, ensuring all your procurement systems are working with accurate and clean data.

While platforms like Veridion combine supplier sourcing and enrichment, and tools like Supplier.io or Qualifyze specialize in specific supplier data, TealBook stands out for its ability to enrich and consolidate existing datasets.

This is further reinforced by its Business Rules Engine, which gives you direct control over supplier enrichment.

Source: TealBook

You can set the necessary TrustScore for supplier attributes, ensuring only data that meets your verification standards is included in supplier profiles.

Based on your preferences, you can decide to work with only highly verified data or give some leeway for non-critical attributes in favor of having the most comprehensive supplier profile you can.

Specific pricing details are not publicly available and must be requested directly from TealBook.

In short, if you’re dealing with disorganized supplier data, TealBook offers a powerful solution to consolidate and optimize your procurement operations.

Conclusion

We’ve explored five leading supplier intelligence platforms, each offering unique capabilities to help you find, evaluate, and manage suppliers more effectively.

From Veridion’s AI-driven data engine to Qualifyze’s in-depth compliance audits, each tool brings something different to the table.

Now, it’s your turn.

Take these insights, explore your options, and choose the best supplier intelligence tool for your business!