Business Tips
January 27, 2022

[Feature Release] Chat, Rankings, and a Navigation Redesign!

September was a big month for VendorPM! The months leading up to September we launched the Service Planner and the feedback we’ve had has been incredible, we truly believe we have the best users on the planet. 

This month, along with continuing to grow, we’ve also launched some MAJOR things! We’ve been hard at work to bring you even more tools to make the quoting and planning of maintenance easier on everyone. Let’s get into the changes!

Chat Directly in VendorPM

Chat Inbox.png

We heard you loud and clear! When submitting or reviewing a quote there is, more often than not, a need to talk about the specifics of the services needed. 

This brings us to the NEW VendorPM inbox, that has been created for property managers and vendors so that they can chat directly about the active quote request that they are working on.

Say goodbye to the unexpected phone calls and confusing email threads. All of your communication can now be centralized in one place, along with the corresponding RFQ! How great is that?!

To start a conversation with a vendor or property manager, simply click on “send us a message” from any RFQ page or listing.

Here’s what you can do with the inbox:

  • Reach a property manager or vendor with instant messaging from a quote request.
  • Easily reference the topic of conversation with our context banner.
  • Property managers can invite other property managers in their company to their chats.
  • Reach out to vendors directly from their company listings, no quote request needed.

Ranking Algorithm and VendorScore

In order to promote healthy use of our platform and to give the best experience possible to both vendors and property managers, we have introduced a new ranking algorithm that is based on something called a VendorScore!

This helps to ensure that when we are matching property managers to vendors for RFQs that we are showing the best possible matches.

Vendors show up in the marketplace in order of their VendorScore. It’s a score out of one hundred that is composed of 4 main categories.

What are the Components of the VendorScore?

Responsiveness (40 points): Takes into account whether or not you are responding to a request for quotation by either accepting it or declining it over the last 60 days. If you accept a request for quotation, the algorithm will calculate whether you are submitting a quote, and what is the average time taken to respond to a quote. Declining a request for a quote has no negative affect on your score.

Profile Quality (20 points): Takes into account all of the fundamental elements of your profile, and whether or not your profile is complete. For example, have you verified your email address? Have you provided a logo? Do you have a profile description (at least 2-3 sentences)? Are there pictures of previous projects uploaded? 

Average Rating (20 points): Takes into account when a property manager leaves a rating or review on your profile. They are asked to rank you using a score out of 5 on four key metrics: Value, Service, Reliability, and Quality. These rankings are used to calculate the average ratings.

Reputation (20 points): Takes into account the number of reviews or ratings you have collected and how many property managers have indicated they Would Hire You Again.

In addition to VendorScore, our ranking algorithm gives slight score boosts for the following:

  1. A boost will be added if the vendor has been awarded a request for a quote in the past 90 days.
  2. A boost will be added if they are a paid member (plus or pro).
  3. A boost will be added if they are compliant on VendorPM.

New Navigation Bar

New Navigation.png

Here we are, at one of my favourite changes this month! You might have noticed a bit of a change if you’ve signed into VendorPM lately. We’ve overhauled our main navigation and moved it to be a left side navigation bar! We’ve also added direct access to important pages for managing quote requests and relationships.

Sign into your VendorPM account today to check it out!

Delighters - Some Smaller, But Still Newsworthy Updates

For Vendors & PMs: Property managers can now share announcement messages to all vendors associated with a quote request. Easily broadcast and receive the most important updates to quote requests in the click of a button.

For Vendors & PMs: New-and-improved properties page allows property managers to log deeper information about their properties and vendors to get context about the property a job is being tendered for, for hiring decisions.

For Property Managers: Easily export a pdf summary of all quotes received on an RFQ with easy to understand statistics to better help you make a hiring decision.

As always we are excited to share all the new and expanding resources available on VendorPM. If you have any suggestions, or have things that would make your life easier with VendorPM and the process of quote requests, let us know!

We’re hiring

Vendor PM is growing and it’s a very exciting time to join our team. Check out our open roles here!

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