69 The following strategic approaches help us develop strong relationships with our suppliers to achieve our supplier diversity goals, while also striving to enhance the value of the products and services we offer our customers . Diverse spend growth Wells Fargo supports strategic opportunities that include diverse suppliers in competitive sourcing and procurement opportunities . A key to successful supplier diversity outcomes is early engagement, which starts with our data-gathering process . We look at benchmark data, peer information, and diverse supplier identification, which helps enable us to flag any roadblocks that may limit diverse participation . The supplier diversity team provides input and reviews sourcing documents, to make sure that they include language on our diversity commitment, spend, and reporting that meets our supplier diversity goals and objectives . Further, at the beginning of each calendar year, the supplier diversity team reviews Wells Fargo’s overall performance, including line of business performance, supply chain category results, and larger sourcing projects and initiatives . These data elements come together to shape our supplier diversity goals, both at the enterprise and line of business level, and these goals in turn are actively supported by all levels of management and communicated to all employees and stakeholders . Spend tracking and monitoring is also an important tool in our diverse supplier efforts . We track and report on our performance on a quarterly basis and these reports include detailed information about our procurement spending . Supplier development We invest in building capacity and expertise for high-potential diverse suppliers . It’s an important effort aimed at strengthening Wells Fargo’s supplier base and increasing the economic impact that our suppliers have on their communities . As part of this effort, we strive to work with organizations that align with our vision and provide diverse businesses access to a broad range of tools and resources that aim to help them: • Enhance their business and strategic plans . • Incr ease their ability to define and communicate their strategic direction and value . • Retool their competitive position . • Strengthen their communications effectiveness and executive presence . • Establish trusted relationships . • Model how to do business with targeted prospective clients . • Improve innovation and scale . Outreach We work with internal and external stakeholders to deliver critical information to the diverse supplier community . This outreach spans regional and national organizations that share our commitment to supplier development and that provide programs and services to strengthen diverse businesses within our communities . We seek out and collaborate with partners who align with us on diverse supplier identification, certification, development, and engagement .