Cultivating and growing a supplier development program takes a balance of relationship building, initiative, and intuition, among other skills, both internally within a corporation and externally with potential suppliers.
WBENC Corporate Member BMO, a leading North American bank driven by a single purpose: to Boldly Grow the Good in business and life, shares a recent WBENC-Certified WBE supplier story that resulted from their leadership approach through this Q&A article with Carol Attak, Senior Manager, Enterprise Supplier Diversity at BMO; Scott Harrison, Head, Event-Based Marketing at BMO; and WBE Meetings & Incentives Worldwide LLC CEO Tina Madden.
Meet Carol, Scott and Tina in the brief video below from Meeting & Incentives Worldwide Annual Summit in 2024 and read on for inspiration and takeaways for both Corporate Members and WBEs on building a successful supplier diversity program and building relationships!
Thanks so much for sharing this valuable WBE success story! How did BMO initially identify the opportunity for a WBE to contribute in this way?
Carol Attak, Senior Manager, Enterprise Supplier Diversity at BMO:
This story is the epitome of how supplier diversity can and should work. In attending the 2023 WBENC National Conference, I met Meetings & Incentives Worldwide (M&IW). I had been working with one of my business stakeholders, Scott Harrison, BMO’s Head of Event-Based Marketing, to make introductions with a few diverse meetings and events businesses. I had learned from sitting down and collaborating with Scott that his team was having some challenges with one of our suppliers in a related area. Prior to the call with M&IW, I mentioned to Scott that M&IW also had capabilities in this challenged area and suggested he inquire about it during our conversation.
Scott’s interest was piqued, which led to further conversations with his team. I was delighted to learn that they were impressed and wanted to onboard M&IW as a supplier for some immediate business opportunities.
The key message here is that it is imperative for supplier diversity professionals to build and nurture relationships both with diverse suppliers and with internal business stakeholders and most of all…LISTEN and be able to identify opportunities and make those connections. It’s not often that all things fall into place, but when they do, it is extremely rewarding for all parties
How is BMO growing women-owned suppliers beyond procurement opportunities?
Attak: One of the most impactful ways BMO is developing women-owned suppliers is BMO Elevate, our diverse business development program, offering executive mentoring, education, and networking opportunities to an invited group of diverse-owned businesses each year. To date, over 60 companies have participated in the program.
In the spirit of helping our suppliers build their brand, BMO has also supported several WBEs in council award nominations.
Additionally, BMO is very proud of its BMO Celebrating Women Grant Program. Since 2012, BMO has recognized the achievements and contributions of over 240 women entrepreneurs through the program, and in 2024 we will recognize fifteen (15) women-owned businesses with $10,000 grants.
What inspires you most about the women-owned businesses you are seeing in the marketplace?
Attak: What really resonates is when a women-owned business, like Meetings & Incentives Worldwide, fully understands the importance of networking and cultivating relationships. This can often take a long time, but when nurtured and done with integrity and authenticity, it can lead to meaningful and fruitful partnerships. M&IW has mastered the art of truly listening to each client to understand their culture, their challenges, and their needs. From this, they are able to demonstrate how they can help to solve challenges, be innovative, embrace the client’s vision and culture, and provide a stellar experience. I see how brilliantly this can work, and nothing is more inspiring than hearing accolades on the outcomes from our business partners about a WBE that was introduced as a result of a supplier diversity connection at the WBENC conference.
Scott, how has Meetings & Incentives contributed to your business goals?
Scott Harrison, Head, Event-Based Marketing at BMO:
While one key overarching common goal for events is to deliver an exceptional attendee experience, the ways in which we measure success may vary. Success can mean an event delivered on-budget, exceptional customer service and satisfaction, white glove service from start to finish, an extremely unique experience, and our partners being a seamless extension of the BMO team.
From our early introductory meetings with M&IW, we could see they genuinely care about their clients’ experiences, and this was further validated throughout our engagement with them, giving us the trust and confidence they would deliver incredible experiences for BMO.
What are your key takeaways since beginning to work with Meetings & Incentives?
Harrison: From our introduction and initial meetings with M&IW, it was apparent how much they focus on their clients’ needs and challenges and creating incredible experiences for BMO executives. Their entire team is extremely skillful at listening, asking questions, embracing our culture and incorporating all of that knowledge into creating a stellar experience for our stakeholders.
What advice would you give to a WBE that would like to work with BMO?
Focus on building a trusting relationship, truly listen to each client’s unique needs, think innovatively, and tailor your solution accordingly. I would also encourage patience. There is not always an immediate need, but it is so important to stay connected, as you never know when you’ll be “in the right place at the right time.”
Tina, congratulations on your collaboration with BMO and the success of your WBENC Certified business! Will you share how beginning to work with BMO has been for you and your company?
Tina Madden, CEO of Meetings & Incentives Worldwide:
It has been a true partnership and symbiotic relationship. Together, we have developed a clear and concise process that allows for timely communication and completion of deliverables while remaining under budget. We have also identified additional areas of opportunity where we can enhance our service offerings with minimal cost impact, such as by providing emissions reporting for air travel. I love that example because it also shows how invested both M&IW and BMO are in event sustainability. Working with partners who share our values is important, and that’s been BMO from the start.
What advice would you give to WBEs looking to work with more WBENC Corporate Members?
Be engaged! Attend events and network with other WBEs. As with most things in life, the more you put into it, the more you get out of it. But it’s not just about showing up. You also need to practice being good at articulating your value. Remember that people don’t just want to work with you for your services. They also care about your culture and your people. It’s not just about what you do—it’s who you are.
What new learnings have you gleaned since beginning to work with BMO?
Madden:
On a personal level, the BMO Elevate program has provided so many valuable learnings from a leadership perspective. I was honored to be invited to this program, and the networking, mentorship, and educational opportunities have been incredibly rewarding.
On a partnership level, we love working with BMO because of the shared growth mindset and commitment to continuous improvement. As our partnership has evolved, we have learned there are so many more ways to support BMO, from enhancing our current services to introducing new ones. It all comes down to timing and prioritizing business needs to create the ultimate balance of value and ROI. Luckily, we learned also BMO shares our goal of providing unforgettable experiences and is open to our ideas. We have discussed several project ideas for the future and look forward to partnering on those to take BMO’s events program to the next level.
Why has the relationship with BMO been such a rewarding one?
Madden: Relationships come down to people. And the BMO team is great to work with. They have been true partners right from the start, and we really feel like an extension of their team. They share our belief in direct, “clear is kind” communication while still being open-minded and transparent with any information that will help our team better support them. They have a similar culture and values as we do at M&IW, from flexibility and innovation to belief in the power of human connection. I could go on, but suffice it to say, it has been a very positive experience working with BMO’s amazing team!
