January 3

December 2019 Product Update

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With the holiday season behind you, you finally have time to think about the gifts your received. Perhaps someone gave you a tie. Maybe you received a Rotato. What's a Rotato, you ask?

If you are a Vendorful user, our bet is that your favorite holiday gift was the Sourcing Pipeline module. ? Below, you'll learn about our newest module and some of the other improvements we made in the last month of 2019.

Sourcing Pipeline and Savings Tracker

Our good friends at QVC — yes, they're a customer — came to us with a problem they were facing. Each year, they deal with thousands of sourcing-related projects, all of which has been tracked on Excel spreadsheets. Periodically, someone on the sourcing team wrangles all of spreadsheets and aggregates all the data. What's being tracked? Savings opportunities, planned new sourcing activities, contract renewals, realized savings, and more. Put simply, there is a ton of high-value information that directly impacts the company's bottom line. So why manage this in Excel? There was no tool available that properly addressed all their needs.

With a good grasp of the problem, Vendorful's product team set out to solve the problem. The result is our Sourcing Pipeline module. (Sometimes it's referred to as a "Savings Tracker," but we tend to use the first term.) It's completely customizable so that all organizations can configure and track the data that is relevant to their organizations. They can use their own acronyms, shortcodes, etc. to boot.

Here's an example of some of the data fields set up by a customer. (Note: this is a truncated screenshot. There are many more configuration options available.)

Sourcing Pipeline and Savings Tracker

Our good friends at one of our customer organizations, QVC, came to us with a problem they were facing. Each year, they deal with thousands of sourcing-related projects, all of which has been tracked on Excel spreadsheets. Periodically, someone on the sourcing team wrangles all of spreadsheets and aggregates all the data. What's being tracked? Savings opportunities, planned new sourcing activities, contract renewals, realized savings, and more. Put simply, there is a ton of high-value information that directly impacts the company's bottom line. So why manage this in Excel? There was no tool available that properly addressed all their needs.

After learning a lot about the challenges and goals from QVC, Vendorful's product team set out to solve the problem. The result of this customer-driven development exercise is our Sourcing Pipeline module. (Sometimes it's referred to as a "Savings Tracker," but we tend to use the first term.) It's completely customizable so that all organizations can configure and track the data that is relevant to their organizations. They can use their own acronyms, shortcodes, etc. to boot.

Here's an example of some of the data fields set up by a customer. (Note: this is a truncated screenshot. There are many more configuration options available.)

Sourcing Pipeline Configuration

Once you're up and running you can add items to your pipeline as well as drill down on existing pipeline items. Permissions ensure that only those who are authorized have access to this data.

Sourcing Pipeline Item

As a sourcing team member, you can see, search, and filter on your list of pipeline items. And if you're a manager, you can see all the projects in the sourcing pipeline. Each user can configure the columns to show/hide fields.

Sourcing Pipeline List View

Strategic Sourcing is more than just running RFX. That's why our customers are so excited about the Sourcing Pipeline module. If you want to check it out, we'd love to show you a demo.

New Vendor Management Settings

Like most of Vendorful, the Vendor Management module is designed to integrated seamlessly into your organization's workflows and processes. Increasingly, we're seeing users outside of procurement regularly log into Vendorful to access or update vendor data a.k.a. supplier information. To ensure that users can only access the vendors they're supposed to, we added a new configuration panel that suppresses the display of vendors who don't meet an organization's specified criteria. Huh? In English, this means that if you have vendors in the system and want to maintain them there, but don't want other people to access those records, you make make sure those records are hidden. What's extra cool about this feature is that it integrates with the custom attribute data that underpins the vendor management system.

Vendor View Settings

Spend Widget Settings

Sshhhhh.... It's a little-known secret that Vendorful can help organizations track and manage their spend. The "spend widget" appears as a small panel on the Vendorful dashboard when users log in. It provides a summary of top spend by classification. The settings allow organizations to control the drill-down behavior, connecting clicks on categories to more detailed analysis.

Better File Processing

If you're a regular reader of these updates, you're aware that we regularly devote time to improving things that already work. That was the case with file processing. We completely rearchitected it so it's more scalable and performant. Notably, when a user uploads a file, that file is now processed in the background. What that means is that a user no longer has to wait on the page while virus checking and file conversion (for PDF previews) run. Instead, the user can continue to work in other parts of the Vendorful application. This allows for more efficient use of time.

Want to check out these new features? Sign up for a free Vendorful trial.

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