NetVendor

NetVendor is a compliance-focused Vendor Management System (VMS) designed for Property Management organizations. The platform enforces compliance requirements beyond basic COI (Certificate of Insurance) tracking. It aims to identify risk and reduce manual administrative tasks for operators. The NetVendor network boasts over 275,000 entities and provides seven PMS (Property Management System) integrations. The platform is designed to govern the complete vendor lifecycle within a single system.

The system integrates various stages of the vendor lifecycle, including sourcing, compliance, bidding, contracts, and work management. Integration with Property Management Systems ensures that vendor compliance status remains consistent across an entire real estate portfolio.

Solutions for Property Managers:

• Vendor Compliance & Credentialing: Performs screening and monitoring of vendor credentials. This includes automated COI collection, OFAC (Office of Foreign Assets Control) screening, W-9 verification, and background checks based on organizational requirements.
• Vendor Sourcing: Provides a searchable network of credentialed entities to build compliant vendor lists.
• Contract Management: Centralizes visibility for approvals, renewals, and obligations to flag lapses and reduce liability.
• Project Bidding: Facilitates competitive bidding within a pre-approved vendor pool to support cost control and accountability.
• Property Maintenance: Manages Work Orders, unit turns, and inspections. Compliance status is connected to dispatch workflows to ensure only verified vendors are utilized.

Integrations:

NetVendor supports multiple PMS platforms, including Yardi, RealPage, AppFolio, Entrata, MRI, ResMan, and Rent Manager. This synchronization is intended to maintain unified and compliant vendor data across existing systems.

Outcomes:

The vendor states that users report a reduction in accidental payments to non-compliant vendors and improved audit readiness. The platform provides bilingual support and dedicated customer relationship management.

For organizations managing vendor risk across large portfolios, NetVendor serves as the governance infrastructure and system of record for Risk Management. The platform is intended to eliminate compliance gaps that expose portfolios to uninsured incidents and liability.