DETROIT, Aug. 17, 2017 /PRNewswire/ -- The Billion Dollar Roundtable (BDR) continues to lead and drive best practices in the supplier diversity space. In a recent meeting of its members, the Billion Dollar Roundtable voted unanimously to broaden its metrics for diversity spending to include veteran-owned businesses.
The Governance Committee of the BDR is responsible for setting standards and metrics for BDR membership. This committee met over several months to benchmark and review many certification processes by organizations for various classes of spend. After thorough analysis, the National Veteran Business Development Council (NVBDC) was deemed by the BDR members to have met the rigorous standards and practices acceptable to the BDR in the certification of Service Disabled and Veteran Owned Businesses (SD/VOBs).
"We are proud to be named by the BDR as the only certifying organization that will qualify Veteran diversity expenditures for BDR membership" said Keith King, President of the NVBDC.
The BDR organization will continue to assess and evolve in the spirit of leading, influencing and shaping supplier diversity excellence globally. This change keeps the BDR and its individual member companies fully aligned, and serves as a "best practice" for other corporations to begin tracking; reporting and focusing on diversity spend beyond minority-owned and women-owned businesses.
"This is a giant leap forward for all SD/VOBs who have been seeking recognition by America's leading corporations and want to pursue economic opportunities with them. We cannot stress enough that Veteran Businesses must realize the corporate certification standards are different than what the VA offers. Self-certification is obsolete and with this announcement the BDR has made it clear that certification by an independent third-party such as NVBDC is now necessary for Service Disabled and Veteran Owned Businesses", continued King.
Membership requirements for the BDR remain at $1 billion of certified Tier 1 spending with the legacy minority-owned and women-owned businesses, as well as the inclusion of Service Disabled and Veteran Owned certified Businesses.
"All of us at NVBDC thank the members of the BDR for broadening their diversity metrics to include SD/VOBs and for recognizing the NVBDC as the only qualified certification entity that meets the demanding standards and practices of the BDR", concluded King.
The NVBDC is the only Veteran Owned Business Certification organization developed by Veterans, for Veterans. The purpose is to provide a credible and reliable certifying authority for all size businesses ensuring that valid documentation exists of Veteran ownership and control.
Please visit us at: www.nvbdc.org or on Facebook at facebook.com/nvbdc.
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SOURCE National Veteran Business Development Council