Teplis Travel proudly maintains a Women’s Business Enterprise (WBE) Certification through the Women’s Business Enterprise National Council (WBENC), the nation’s largest third-party certifier of the businesses owned and operated by women in the U.S.
The WBENC certification standard is the most relied upon certification of women-owned businesses as a supplier diversity business program. This certification validates that a business is 51 percent owned, controlled, operated, and managed by a woman (or women). WBENC aims to “foster diversity in the world of commerce. Diversity promotes innovation, opens new channels of revenue and creates partnerships which provide opportunities that fuel the economy.”
Monica Teplis, Chairman of Teplis Travel shares, “We are proud to be a part of this program which not only affords our travel management company with great opportunities and partnerships as a supplier diversity business but in turn, the opportunity to pass along great benefits to our clients.”
When a company partners with a WBENC-Certified Women’s Business Enterprise, they gain many benefits, such as:
Tax Incentives
Research conducted by the Hackett Group proves that working with a WBENC-certified business can increase profitability with as much as 130 percent return on investment. The research concluded that procurement organizations that work with a diverse supplier base also had lower overall operating costs and spent 20 percent less on their buying operations.[i] When you partner with Teplis Travel as your dedicated travel management company, we conveniently provide you WBENC certification information needed for your tax purposes.
Diversifies Your Suppliers to Provide Multiple Procurement Channels for Goods and Services
When partnering with a WBENC-certified business, you gain access to multiple channels for goods and services which allows you to review the best options for your company’s needs. Increasing your partnerships with WBENC-certified businesses, such as Teplis Travel, gives you the added benefit of building relationships with suppliers’ alliances.
Innovation and Creativity
A Harvard study[ii] showed that diversity unlocks innovation and drives market growth, so a company’s willingness to work with diverse markets attracts other companies and business opportunities that also support diversity and women-owned business.
As a travel management company focused on delivering high-touch personalized service, Teplis Travel has the advantage of creating flexible solutions, with the ability to foster creative and innovative strategies that meet our clients’ corporate travel objectives and drive business success.
Shows Your Company’s Interest in Working in Diverse Markets
According to WBENC[iii], WBENC-certified WBEs are among the fastest growing sector of our U.S. economy.
- As of 2018, there are 3 million women-owned businesses in the U.S. Compare that to 1972, when there were only 402,000 women-owned businesses, representing 4.6 percent of all firms.
- Women own 4 out of every 10 businesses in the U.S.
- Since 2007, the number of women-owned businesses has increased by 58 percent, which is better than businesses overall, which increased by only 12 percent.
- Last year, 1,821 net new women-owned businesses were launched every day. Women of color founded 64 percent of those new businesses.
By working with a women-owned business you show your company’s commitment to working in diverse markets and furthering economic growth in local communities.
If you are not among the thousands of corporate brands and government entities who are already partnering with a WBENC certificated company, it’s time to expand your vendor options. As a certified Women-owned Business (WBENC), celebrating over 45 years of dedicated travel management services, Teplis Travel is committed to delivering cost-effective, tailored solutions that align with our clients’ unique corporate travel needs.
We’d love the opportunity to speak with you and share how we’ve helped other organizations achieve their supplier diversity goals. Contact us today!
[i] https://www.thehackettgroup.com/news/top-supplier-diversity-programs-broaden-value-proposition/
[ii] https://hbr.org/2013/12/how-diversity-can-drive-innovation
[iii] https://www.wbenc.org/blog-posts/2018/10/10/behind-the-numbers-the-state-of-women-owned-businesses-in-2018
