Tiffanie Standard, Founder & CEO
When it comes to AI, one critical business function stands at the forefront of successful implementation: procurement.
Many companies will opt to buy AI solutions rather than build their own, but procurement remains a notoriously complex process, especially at large enterprises with hundreds or even thousands of suppliers. Common challenges include identifying the right vendors, calculating return on investment (ROI), and underutilizing existing platforms. Meanwhile, procurement teams may already be facing an increasing workload. With teams already stretched thin, adopting AI solutions becomes both an opportunity and a necessity, however procurement inefficiencies could hinder companies from experimenting with AI.
Tiffanie Stanard, founder and CEO of Stimulus, understands the challenges firsthand after 20 years in vendor management. She’s set out to modernize procurement with her SaaS platform, Stimulus, an AI-powered chief of staff for enterprise procurement teams.
For enterprises, Stimulus offers a solution that delivers AI-powered vendor insights, relationship management tools, and a proprietary vendor scoring system. The all-in-one platform simplifies sourcing, matching, and contract management while helping procurement teams identify savings opportunities and shorten sales cycles. With Stimulus, companies simplify procurement decision-making while identifying untapped opportunities to help elevate supplier performance.
For vendors, Stimulus offers a solution that optimizes outreach by analyzing sourcing calendars, budget timelines, past expenditures, and company goals. Its AI assistant helps vendors approach the right companies at the right time, demonstrate value to existing partners, and uncover new growth opportunities.
Fueling Startup Success Through Strategic Corporate Partnerships
Since launching in 2017, Stimulus has raised $2.5 million in venture capital and signed enterprise clients like Penn Medicine and Grand Casinos. In Fall 2024, Stimulus completed the Comcast NBCUniversal LIFT Labs Accelerator, a six-week program connecting Stanard to leaders across the enterprise for potential partnership opportunities.
The experience was especially meaningful for Stanard, who is based in Philadelphia, Comcast’s hometown, and was familiar with the organization.
By the end of the program, Stimulus had evolved from an early-stage startup into a sophisticated, fully developed platform serving clients across healthcare, education, gaming, retail, and media, with more than one million supplier companies listed.
During the accelerator, the LIFT Labs team became internal champions for Stimulus, facilitating introductions to decision-makers across Comcast. The program helped Stanard secure direct conversations with procurement leaders at the company, expediting what might have been a years-long effort into weeks.
“On our own, it might have taken years to find the right people. Plus we got marketing and media opportunities too,” she said. “I wish there was a LIFT Labs at every company.”
— Tiffanie Standard, Founder & CEO Stimulus
From Frustration to Innovation
Stanard’s journey into procurement tech started with personal frustration. Early in her career, she managed vendors using outdated systems and often resorted to offline relationship management, even organizing in-person events to build vendor relationships.
Later, as a consultant pitching large companies, she experienced the process from the vendor’s perspective — and saw the need for change.
“I realized this is a terrible experience for both sides,” she said.
She was particularly inspired by how HR platforms were transforming employee engagement and retention — and wondered why procurement hadn’t seen similar innovations.
Looking Ahead: The Future of Smart Procurement
The COVID-19 pandemic brought global supply chain issues into sharp focus, as everything from toilet paper to furniture became delayed. As businesses rethought procurement strategies, many turned to Stimulus for better vendor insights and supply chain management.
“Companies realized they didn’t know enough about the suppliers helping them build products and deliver services,” Stanard said. “Understanding vendors is just as important as understanding employees and customers.”
Looking ahead, Stimulus is focused on expanding its enterprise customer base and furthering its mission of enhancing relationships between buyers and vendors. Stanard envisions Stimulus as a must-have for all procurement teams.
“We’re not just a supplier relationship intelligence platform — we’re a data platform,” she emphasized. “Our proprietary datasets help companies decide where to purchase, spend, and scale. In the AI space, the best asset you can have is unique data — and our platform is built on a strong foundation that can help AI adoption move forward.”
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