WASHINGTON, Nov. 1, 2013 (GLOBE NEWSWIRE) -- The United States Hispanic Chamber of Commerce (USHCC) congratulates IBM, a global technology manufacturer and consulting corporation, for receiving the National Minority Supplier Development Council (NMSDC) 2013 Corporation of the Year Award. IBM is a longstanding partner of the USHCC, and was recognized at the 2013 USHCC National Convention's Million Dollar Club for investing over $100 million with Hispanic Business Enterprises (HBEs).
"For decades, IBM has distinguished itself as a true champion of supplier diversity. This company recognizes that working with minority-owned firms is critical to their future commercial success, and quite frankly, a smart business practice that adapts to the economy of the new America," said USHCC President & CEO Javier Palomarez. "The USHCC is proud of IBM's continued accomplishments in the arena of diversity and inclusion, and we commend the NMSDC for honoring this world-renowned brand for their dedicated work in fostering the growth of American's diverse business communities."
IBM is a founding member of the Billion Dollar Roundtable (BDR), an international coalition of 18 companies that individually invest more than $1 billion with minority-owned suppliers each year. In 2011, IBM celebrated 40 years of supplier diversity, and continues to expand its alliances with minority-owned businesses.
IBM's continued success proves that supplier diversity can lead to profitable returns. According to a study conducted by the Hackett Group, an internationally based business consulting firm, companies with diverse supply chains see a 133% greater return on investments, when compared to their counterparts. The same report also discovered that companies working with minority-owned businesses spend 20% less on their operations, and have procurement teams half the size of their competitors.
"The NMSDC honored an exemplary company with its most auspicious annual award. For years, the USHCC and IBM have worked together to expand opportunities for Hispanic owned businesses," said USHCC Chairman Marc Rodriguez. "We look forward to our continued partnership with IBM, as we explore new opportunities and celebrate shared victories."
About the USHCC
Founded in 1979, the USHCC actively promotes the economic growth and development of entrepreneurs and represents the interests of over 3.1 million Hispanic owned businesses nationwide that contribute in excess of $468 billion to the American economy each year. It also serves as the umbrella organization for more than 200 local chambers and business associations in the United States and Puerto Rico. For more information, visit www.USHCC.com
Valentina Pereda USHCC Director of Communications 202-489-2932