Community First Developments Enhances Operational Efficiency and Streamlines Vendor Compliance with VendorPM

The Company

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Community First Developments Inc. (CFDI) has been at the forefront of property management in the GTA since 1995, championing the ethos of putting people first. With over two decades of experience, their team excels in building sustainable and vibrant communities by offering tailored property management services.

The Challenge and Consequences:

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Prior to using VendorPM, CFDI faced a number of challenges in their vendor management, compliance and procurement processes. These challenges included the struggle to find trustworthy and thoroughly vetted service providers, compounded by vendor response times often stretching to 2-3 days, sometimes even a week. Further complications arose from lack of transparency in vendor performance like the progress and quality of work leading to delays, the daunting task of managing quotes, and the manual processes involved in vendor oversight. As a result, it led to reduced efficiency, higher expenses, and limited visibility for the company.

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Reduced Efficiency

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Before using VendorPM, CFDI struggled with efficiency due to manual processes and slow vendor responses. Relying heavily on preferred vendors, emails and word of mouth for vendor management proved to be time-consuming, in some cases, taking a couple of days just to send out quote requests. These delays resulted in operational bottlenecks and extended timelines. They hoped that by addressing these issues, they could enhance their overall efficiency. 

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Increased Operational Expenses

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Before adopting VendorPM, CFDI struggled with slow responses to quote requests and with many vendors being stretched for time and overwhelmed by their commitments, there was often hesitance to provide quotes. Moreover, CFDI's limited vendor pool and inefficient communication methods compounded these difficulties. This led to increased expenses and became burdensome to secure multiple quote requests. CFDI turned to VendorPM to streamline their process and create a more efficient and secure environment.

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Lack of Operational Visibility

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Prior to integrating VendorPM, CFDI grappled with disjointed workflows. Vendor data was scattered across multiple sheets, causing a noticeable gap in operational visibility and hindering real-time insights into work order statuses and vendor performance. This fragmented structure hampered managerial efficiency and delayed the quote process. CFDI recognized the need for a more cohesive system that could bolster transparency and empower quicker, data-driven decisions. In their pursuit of a solution, CFDI's objective was to remedy these challenges, hoping to enhance transparency and enable faster, data-informed decisions.

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The Solution & Results

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After implementing VendorPM, CFDI experienced significant improvements in their operations, some of which are shown below:

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Workflow Efficiency

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Before VendorPM, CFDI's manual vendor management methods were inefficient, causing operational delays. Traditional reliance on emails, preferred vendors and word-of-mouth for vendor procurement and management were tedious and extended timelines. Adopting VendorPM, CFDI streamlined processes, transforming days-long tasks to minutes and enhancing efficiency.

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Visibility and Governance

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CFDI's operations were hindered by a lack of transparency and visibility, making it difficult to make informed managerial decisions due to disorganized vendor data and unclear workflows. The absence of real-time reports and metrics on work order statuses and vendor performance slowed down their decision-making. VendorPM addressed this by centralizing data and providing detailed real-time reports and analytics. This clarity not only improves governance but also enables managers to make faster, better-informed decisions, leading to more organized workflows and higher standards of service delivery.

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Risk Mitigation

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Before using VendorPM, CFDI dealt with time-consuming manual vendor compliance checks, risking oversights with legal and financial impacts. With VendorPM, they now efficiently screen and monitor vendor compliance in real-time, freeing up head office staff from tedious manual vetting. This has resulted in more accurate compliance checks and improved management of vendor performance, significantly reducing risks. VendorPM offers a comprehensive and streamlined approach, enhancing what CFDI previously managed manually and adding more value.

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Vendor Procurement

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VendorPM's integration significantly streamlined CFDI's procurement process, cutting down the time for tender quote requests from an hour to just a few minutes. This efficiency was evident in their completion of over 200 jobs through the platform, which yielded an average saving of 6% per project. The platform not only expanded CFDI's vendor network but also introduced a competitive edge to the bidding process, enhancing both efficiency and accountability in procurement operations. This expansion fostered new vendor relationships and elevated the overall procurement experience.

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Summary

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Community First Developments Inc. (CFDI) in North York, Ontario, faced multiple challenges in vendor management, compliance, and procurement processes, including slow vendor responses, operational inefficiencies, and lack of visibility. Their adoption of VendorPM significantly transformed their operations. With 37 users managing 97 buildings, CFDI streamlined their workflows, reducing the time per tendered quote request from an hour to less than 30 minutes, and completed over 200 jobs through the platform, saving an average of 6% per project. The implementation of VendorPM enhanced CFDI's operational visibility, governance, and risk mitigation, while expanding their vendor network and introducing a competitive edge in procurement. This resulted in more organized workflows, better-informed decisions, and higher standards of service delivery, demonstrating VendorPM’s efficacy in addressing industry-specific challenges.

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