March 2018 Product Updates

March 2018 Product Update

Reverse Auctions Improvements

We made a variety of enhancements to our Reverse Auctions module. They run the gamut and include usability improvements to the UI, exposing more analytic data, and even improvements to the email notifications that accompany a reverse auction.

Vendorful Auctions Update

Perhaps the most significant improvement, however, was the introduction of a new reverse auction style: Ranked Reverse Auctions. In the Ranked style, the bidders can see their absolute rank, but cannot see the low bid, nor do they know how many other bidders are competing. It’s a compelling option for buyers who want to negotiate a competitive price, but who have material non-price considerations in making their selection. You can read more about different types of reverse auctions.

Vendor Management Usability

Our Vendor Management module was updated with some UI improvements that make things a bit more usable. Notable was the implementation of a “Base Template.” The Base Template allows you to configure attributes which will apply generally to all of your vendors. You can then build customizations on top of that base template.

For example, all of your vendors might need to provide an EIN (a business tax ID in the USA). This could be part of a Base Template. Then, your IT vendors and food services vendors alike would provide that information, but also be able to provide domain-specific information that you request.

In addition to that change, we’ve overhauled the UI to make it easier to access the information you need.

Vendor Management circa March 2018

To use any of these features yourself, sign up for a free Vendorful account.

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February 2018 Product Updates

February 2018 Product Update

Introducing Vendorful product updates released in February 2018:

Multi-Document Contracts

Contracted relationships with suppliers often include multiple supporting documents. Vendorful’s Contract Administration module now supports an unlimited number of Key Documents per contract so you have all the information you need to manage your supplier relationships in one place:

Parent-Child Contract Relationship

Expanded Library of Help Videos

Vendorful’s primary focus is customer service. To that end, we’ve updated all of our existing video tutorials and added new ones, so you can get the help you need quickly and easily. You can access the help library from inside the Vendorful application:

Vendorful Help Videos

To use any of these features yourself, sign up for a free Vendorful account.

Interested in being the first to know about new Vendorful features or just want to keep up on procurement news? Subscribe to the blog!

January 2018 Product Updates

January 2018 Product Update

Introducing Vendorful product updates released in January 2018:

Reverse Auctions

In January, Vendorful released a major new feature: Reverse Auctions! Vendorful’s intuitive reverse auction platform provides a transparent and painless experience to both buyers and suppliers, allowing buyers to maximize savings and value without alienating and frustrating their suppliers. Check out highlights of the auction platform below:

Reverse Auction Realtime Bidding DisplayReverse Auction SetupReverse Auction Bid History

Pricing Table Enhancements

As of January, Vendorful’s RFx pricing table now supports target quantities, which are shared with suppliers to allow them to provide the most accurate pricing possible. Check out the changes below:

Pricing Table SetupPricing Table Results

To try any of these features yourself, sign up for a free Vendorful account.

Interested in being the first to know about new Vendorful features or just want to keep up on procurement news? Subscribe to the blog!

December 2017 Product Update

Introducing Vendorful product updates released in December 2017:

Inbox Enhancements

Last month Vendorful’s inbox saw another round of enhancements to bring users some the best aspects of email without replicating the worst! The new features integrate tightly with sourcing events to provide a vastly improved experience over actual email in the context of an RFX. Check out the highlighted enhancements below: 

Search InboxBroadcast message

Dashboard Upgrades

Vendorful’s sourcing dashboard now features new dashboard widgets and customizable layouts which users can customize to see only the information most relevant to them on their home screen. Check out the widgets and customizable layouts below:

Dashboard WidgetsCustomizable layout

Vendor Registration Enhancements

In addition to UI improvements, vendor registration now supports arbitrary file types as an attribute. See how to add the new field below:

Vendor Registration

To test any of these features yourself, sign up for a free Vendorful trial.

Interested in being the first to know about new Vendorful features or just want to keep up on procurement news? Subscribe to the blog!

November 2017 Product Update

Introducing Vendorful product updates released in November 2017: Read more

October 2017 Product Update

Introducing Vendorful product updates released in October 2017:

Refreshed Navigation Menu Layout

Small but big! The refreshed layout focuses on helping users find the information they need more intuitively so they can access the features they need faster.

Navigation Bar

Add Stakeholders to a Strategic Sourcing Event at Any Time

Allow buyers on your procurement team to add stakeholders to a purchasing project at any time, not just during setup. This update lets purchasers make adjustments on the fly as the project evolves and also makes it simple to correct inadvertent omissions.

Add Stakeholders

Pricing Table Enhancements

We launched pricing tables in September and have since made some in-demand enhancements to layout, design, and functionality. These updates allow users to view information more clearly.

Check out the details:

  • Import/Export — Make use of existing product lists in Excel and easily reuse within the Vendorful application.

Create a Pricing Table

  • Show/Hide Columns — See the data you need to see in pricing table views by showing or hiding columns.
  • Side-by-Side Vendor Comparison — Select vendors and view them side-by-side to compare.
  • Pricing at a Glance — Highlight the cheapest and most expensive vendors by individual line item to see which vendors are most and least competitive on price.

Pricing Table Results

Custom Branding

It’s okay to be vain! In our most recent update, we launched the ability for organizations to customize the Vendorful app with their logo and branding, making it look and feel like an internal tool.  

To check out any of these features yourself, sign up for a Vendorful demo.

Interested in being the first to know about new Vendorful features or just want to keep up on procurement news? Subscribe to the blog!

September 2017 Product Updates

Introducing Vendorful product updates released in September 2017:

Question Weighting

This is a feature that we’ve wanted to add for quite some time. After getting lots of feedback from customers and prospects, we finally felt confident about how best to implement it. Now, a buying team can get incredibly granular in setting weights — right down to the question level. Vendorful will calculate how this impacts the weight of the relevant section of the RFP questionnaire in real time, providing instant feedback. Weights are unconstrained, allowing buyers flexibility in how they are used.

Apply Weighting to Questions

Pricing Scenarios

Line item comparisons are obviously critically important, but so is understanding the total cost of a potential purchase. To that end, we’ve enhanced the pricing table so that users can set up quantities and see the actual costs of choosing each vendor in any number of scenarios.

Pricing Scenarios

Vendor Management

We’re very excited to tell you about the next major Vendorful module that we’ve begun developing — Vendor Management! We realize an exclamation point might be overdoing it for some, but we’re very enthusiastic about what’s to come.

The first features that we’ve released for this new module enable you to register your organization’s vendors in Vendorful and associate information with them, e.g. name, website URL, diversity supplier status, etc. We make it easy to ensure that you’re capturing the right information about your suppliers, regardless of their industry.

Vendor Management

Vendor Attributes

While some of the information you want to collect from your vendors is broadly applicable regardless of vertical, there are other data that might be industry specific. For example, you might want to know if your SaaS provider hosts in a SOC-2 compliant data center. On the other hand, that information has no relevance when it comes to the vendor that is managing your organization’s landscaping.

Vendorful allows you to create “Vendor Templates,” which allow you to organize sets of attributes and tie them to reusable templates. This way, you can be sure that you’re collecting the appropriate information for your vendors, regardless of the product or service they provide.

Vendor Attributes

Keep your eyes peeled in the coming months as we roll out more Vendor Management features!

To test out the any of the new RFX features or take the Vendor Management module for a spin, sign up for a free Vendorful account.

August 2017 Product Updates

Introducing Vendorful product updates launched August 2017:

Overhaul of Request Setup UI

While we’re fans of predictable workflows, we thought ours had grown too rigid and the steps too bulky. To improve this, we’ve broken down the sourcing process into smaller discrete steps, which makes the process of setting up a request in Vendorful even easier and more flexible than before. Users can now complete the steps in any order they like.

RFP Setup User Interface

Save an In-Process Sourcing Event as a Template

RFX templates have been a part of Vendorful since the initial release of the product. We’ve made it even easier to save templates by allowing users to save an in-progress questionnaire as a template. This makes it incredibly fast and easy to run repetitive sourcing events. Plus, you can spread the love and opt to make your templates “public,” which makes them available to the other buyers in the system.

Save a Sourcing Event as a Template

Pricing Tables

Give us your poor, tired rows and your aching columns. Users can now add a pricing table as a discrete component of an RFX and then apply a weight to this as part of the scoring. The pricing table allows buyers to specify a list of separate line items on which they want individual unit pricing from vendors.

Pricing Table

Are you wasting time and money due to an ineffective sourcing process? If you want to see how our solution can specifically save you time, click to sign up for your free account.

July 2017 Product Updates

Chat Box Improvements

Vendorful has always had real-time chat allowing customers to communicate quickly during the RFP process. This July we rolled out usability improvements to the chat box, including the ability put to move it within the Vendorful app as well as pin it to a specific area.

Contract Manager Enhancements

Organizations can now capture specific structured metadata for contracts. Want to know what percentage of your contracts were awarded after an RFP? You can track it. Need to get a handle on how many contracts have been awarded to diversity suppliers? Now, you’ll know.

Video Embedding Supported in Sourcing Events

In an RFP, you’re trying to parse through a wealth of information. In keeping with this theme, Vendorful now supports integrated rich <see what we did there?> media. Buyers can now share images and videos with potential suppliers as part of a sourcing event, and suppliers can include images and videos in their responses. And while it’s possible that some respondents will attempt to curry favor with a cat video or two, the addition of video to an RFP response can be transformational.

Video in your RFP

Searchable Product Categories

Vendorful has existing content and templates across a wide range of product categories and sub-categories—so many that it can sometimes be difficult to browse through them. Years ago, Bono sang, “I still haven’t found what I’m looking for.” With this new search functionality, we expect you’ll have less in common with Bono than you once did.

RFP Product Categories

Are you wasting time and money due to an ineffective sourcing process? If you want to see how our solution can specifically save you time, click here to sign up for your free trial.

June 2017 Product Updates

Introducing Vendorful product updates launched June 2017:

Contract Manager Overhaul 

This update allows customers to track, search, and manage their supplier contracts in a single location, closing the loop on supplier sourcing and turning supplier selection into a complete end-to-end process.

Updated Contract Page

Dashboard Design Update

It’s not “Paradise by the Dashboard Lights,” but it is a big improvement. When users log into Vendorful, they will see a new dashboard, which provides an improved summary of all critical information about organization-level purchasing events and individual tasks at a glance.

Vendorful Dashboard Update

Single Sign On 

Enterprise clients who require single sign-on now have access to this feature. IT departments, commence rejoicing!

Revised Navigation 

By moving the navigation for sourcing events to the left side of the screen (from the top), we made it easier for users to find the information they need, making the sourcing process even more intuitive than it was.

RFP Navigation

Are you wasting time and money due to an ineffective sourcing process? If you want to see how our solution can specifically save you time, click here to sign up for your free trial.