May 2019 Product Updates

May 2019 Product Update

In the northeastern part of the United States, May brought with it blooming flowers, leaves on trees, and the many sounds of spring. Our developers, on the other hand, brought our customers new features, bug fixes, and enhancements. We had a lot going on last month and not everything will make the cut, but this post might be a tad longer than most product update posts.

Contracts Refresh

As part of our “spring cleaning,” we’ve taken a fresh look at our Contracts module. We’re going to be iteratively improving just about everything in it and May saw the first of those changes. Below, we highlight two of them. The first is built-in filtering so you can see which contracts are set to expire in 30, 60, or 90 days. (We also give you a hint by showing you how many contracts fall into each category.)

Contracts Landing Page

We’re in the midst of overhauling the user interface on the individual contract pages. Our goal? Less clicking around and more relevant data front and center. By reorganizing this page, we’re able to capture more information. Below, you can see an example as we now allow you to record key clauses right on the contract page. Want to know what your termination provision looks like without having to sift through the contract? How about an SLA? You can now surface any key contract terms you want and quickly access them.

Key Terms/Provisions

Advanced Pricing Tables

With some of our customers working in categories where they have pricing tables with over 100 rows and columns, we’ve collected a lot of feedback about their pain points. First of all, moving this evaluation into the browser doesn’t seem to make a lot of sense. For this narrow use case, Excel — or some other spreadsheet — is the best tool for the job. However, using a spreadsheet poses some challenges. The two we heard the most were

  1. concerns about the data provided by the vendors.
  2. frustration around manually collating all of the data.

We’re excited to announce a solution to these problems. The Advanced Pricing Table allows buyers to continue to leverage Excel. They can upload their Excel, select data types (e.g. number, date, text) for their columns, mark which columns should be filled out by vendors, and voilà — it just works. Vendorful takes care of the data validation and collation of the data.

Advanced Pricing Table Configuration

Load in your Excel file and this is what you’ll see.

Attack of the Clones

We hope you’ll excuse the gratuitous Star Wars reference. And we assure you that you won’t feel attacked by this new feature. Now, in addition to being able to use templates to shorten your RFX prep time, you can clone an entire Request. And when we say “all of it,” we mean all of it. The only change we make is with the timeline, where all of the milestones (key dates) are preserved, but the dates need to be updated. This makes sense as an RFP you sent last year will have key dates that are in the past. Aside from that, once you click the clone button, you are essentially ready to issue your RFX.

Clone Your RFP

Easier Team Building

At Vendorful, simplifying collaboration is one of our guiding principles when we develop our application. For this reason, we’ve also had a simple process for buyers (and vendors) to invite colleagues into the system. However, as easy as this was, it required a context shift as the user needed to navigate to a different screen. In May, we addressed this by adding an Invitation button in context.

Invite Colleagues from the Team page

Once you click the button to invite your colleague, you’ll see an intuitive pop-up where you enter your colleague’s information:

Invite Colleague Pop-up

Yes, We’ve Got the Time

When setting up a Reverse Auction, specifying the exact time of the auction is critically important. In a long-running process like a strategic sourcing event, e.g., RFP, it’s less critical. However, after hearing from a customer of ours that there was some ambiguity around due dates, we thought it made sense to allow buyers to specify deadlines with dates and times. “But what about time zones?” you’re wondering. We’ve got you covered. Vendorful looks at your system clock and automatically adjusts the time as necessary.

Set Key Dates and Times

Want to check out these new features? 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!