---
updatedAt: 2025-05-27T20:21:36.000Z
agentTools:
  projectIndex: https://docs.veridion.com/llms.txt
---

# Internal Supplier Search

**Supplier Discovery (Internal Supplier Search)**

Requests for goods or services can originate from the organization to fulfill day-to-day needs or in preparation for contract expirations. In both scenarios, procurement teams must identify suitable suppliers for their RFx.

Companies often initiate an **internal or pre-existing supplier search** to leverage established relationships, streamline processes, ensure supply chain continuity, and negotiate better terms. This approach minimizes risks, saves time and resources, and capitalizes on prior collaborations, making it a strategic and cost-effective choice for procurement.

**Current Process:**

All companies have a list of approved suppliers for different products or services they procure called preferred suppliers or tier 1 and tier 2 suppliers (the nomenclature can vary based on companies).

Companies also have a list of suppliers who have participated in similar RFx in the past and the reason for not being awarded or, in some cases, non-qualification. Procurement teams go back through these lists of suppliers to engage with them and identify which of these suppliers can qualify to participate in the RFx.

**The Challenge:**

* You may not fully realize all your suppliers' capabilities, services, or products.
* Retrieving information from past RFx processes can be time-consuming and cumbersome, often resulting in stale information.

**AI Supplier Discovery using Veridion:**

Veridion can help you identify if your existing suppliers have overlapping or new products, capabilities, etc., which may otherwise remain undiscovered. For example, you might find that a company classified in one category excels in another, offering a broader spectrum of products and services.

**Benefits:**

* Enhanced consolidation of spend which can lead to cost savings and improved supplier relationships.
* Significant savings on onboarding costs mean reduced overhead.
* Minimizing potential risks ensures a more stable and secure procurement process.
* Reducing maverick spend, leads to better control over procurement expenses and adherence to organizational procurement policies.