VendorPM's 2024 Year In Review

As we close the chapter on 2024, we’re proud to highlight the strides we’ve made to modernize vendor and property management workflows. This year, we introduced transformative features and enhancements across our platform, enabling our users to work smarter and more efficiently.

‍

Let’s take a look back at the milestones that defined this year—and see how they set the stage for an even more exciting 2025.

‍

Game-Changing Integrations

‍

In 2024, we launched our integration with Yardi, designed to sync critical vendor information across both platforms. For those using Yardi as their ERP, this integration seamlessly connects VendorPM so you can manage vendor workflows within a single ecosystem.

‍

‍

‍

AI Procurement CoPilot

‍

This year marked our first of many AI-powered features with the introduction of the AI Procurement CoPilot. Designed to simplify vendor sourcing and procurement, this feature provides intelligent recommendations and insights to streamline decision-making.

‍

‍

‍

Vendor Compliance & Credentialing Updates

‍

Ensuring that vendors meet your compliance requirements has never been easier. We’ve refined the way you manage vendor approvals, keeping your properties and operations risk-free.

‍

‍

‍

Procurement Enhancements

‍

We’ve significantly expanded the capabilities of our bidding module to handle even more use cases. Key improvements include:

‍

• Offline Quote Upload: Simplify adding external vendor quotes directly into the platform.
• Additional Insured Management: Streamline compliance by tracking additional insured requirements.
• RFX Comparable Line Items: Make side-by-side comparison of vendor bids seamless.

‍

‍

‍

VendorPM in French

‍

To better serve our Canadian customers, we’re now offering VendorPM in French, making the platform accessible to more users in their preferred language.

‍

‍

Enhanced Security and Usability

‍

We introduced a number of updates designed to improve your experience and provide even greater peace of mind:

‍

• Two-Factor Authentication: Keeping your data secure with an added layer of protection.
• Vendor Self Checkout: Improved vendor onboarding and payment processes.

‍

‍

Optimized Platform Performance

‍

From load time reduction to dozens of other usability enhancements, 2024 was all about delivering a faster, more intuitive platform experience.

‍

Looking Ahead to 2025

‍

‍

As we celebrate the progress made in 2024, we’re already gearing up for even more groundbreaking updates in the new year. Stay tuned in early 2025 for:

‍

‍

Risk Tiers

‍

‍Managing compliance is about to get smarter. With Risk Tiers, property managers can automatically match vendors to the correct compliance requirements based on the specific risks associated with their services. This feature minimizes manual oversight while ensuring alignment with organizational and industry standards.

‍

Templates

‍

Simplify and standardize your procurement processes with customizable templates. Whether it’s RFPs, RFQs, or other procurement documents, this feature will ensure consistency and save time across your team.

‍

Contract Management

‍

‍Say goodbye to missed contract renewals or expirations. This new feature centralizes contract storage and management, providing tools to track key dates, set reminders, and uncover opportunities for cost-saving renegotiations on building services.

‍

‍

Conclusion

‍

As the real estate industry evolves, property technology is playing a pivotal role in shaping its future. Modern property managers are no longer focused solely on building maintenance—they are expected to optimize operations, mitigate risks, and drive cost savings in a fast-paced and competitive market. At VendorPM, we’re proud to lead this transformation by providing innovative tools that streamline vendor collaboration and elevate efficiency.

‍

VendorPM is committed to empowering property managers to adapt, innovate, and thrive. Our upcoming product enhancements, including advanced risk management, streamlined workflows, and proactive tools, underscore our dedication to delivering the most intuitive and powerful vendor management platform available.

‍

By focusing on risk reduction, operational efficiency, and proactive management, we’re equipping property managers to overcome challenges and seize opportunities in a rapidly advancing industry. Stay tuned as VendorPM continues to drive innovation and help you stay ahead in 2025 and beyond.

‍

Want to dive deeper into these features?

Check out our platform today to see them in action.

‍