Name: VendorPanel
Price: 5000 USD
Author: VendorPanel

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VendorPanel is a supplier management and procurement solution that aims to streamline and optimize procurement processes for businesses of various sizes. According to the vendor, this platform caters to procurement professionals, supply chain managers, vendor managers, government organizations, and education institutions, providing them with the necessary tools and features to manage suppliers, control spend, make informed decisions, and ensure compliance.

## Key Features

**Supplier Management**: According to the vendor, this feature allows businesses to increase spend under contract and competitive bidding, track supplier performance and buyer feedback, and automate the management of supplier compliance documents.

**Better Spend Control**: The vendor claims that this feature provides businesses with improved visibility and integration of supplier data, helping to reduce supply chain risk and increase efficiency. Additionally, it is said to drive savings through improved spend management.

**Buyer Decision Support**: According to the vendor, this feature offers buyers rich supplier information during RFx shortlisting and contract awarding. It provides access to compliance status, financial strength, and past supplier success to enable informed decision-making.

**Automated Compliance Tracking**: The vendor states that this feature helps businesses avoid using non-compliant suppliers in a decentralized environment. It is aimed at meeting benchmarks for OH&S and social procurement, while streamlining compliance management processes.

**Go To Market**: According to the vendor, this feature aims to streamline sourcing with a complete procurement solution. It helps standardize processes across all suppliers and spend types, improving efficiency and effectiveness in the procurement process.

**Compliance Management**: The vendor claims that this feature puts supplier compliance data in front of buyers during market engagement and contract awarding. It ensures adherence to compliance requirements and helps mitigate compliance risks.

**Procurement Planning**: According to the vendor, this feature guides procurement activities and ensures alignment with business goals. It optimizes sourcing strategies and resource allocation, aiming to improve procurement efficiency and effectiveness.

**Supplier Discovery**: The vendor states that this feature helps businesses identify and evaluate potential suppliers. It streamlines supplier qualification and selection processes, enhancing supplier relationship management.

**Evaluation & Award**: According to the vendor, this feature streamlines the evaluation and awarding of contracts. It ensures fair and transparent supplier selection, aiming to improve efficiency and accuracy in the evaluation process.

**Contract Management**: The vendor claims that this feature centralizes contract management and documentation. It tracks contract milestones and obligations, improving contract visibility and compliance.

Tender Assessment Options: Many users have found the tender assessment options provided by VendorPanel to be fantastic, particularly praising the matrix feature for its ability to easily control the entire tender process. 

Wide Range of Suppliers: Users appreciate that VendorPanel offers access to a wide range of suppliers through its marketplace, ensuring that all vendors on the panel have been pre-qualified in the required area. This ensures a diverse pool of potential suppliers and increases procurement options.

User-Friendly Interface: Multiple reviewers have commended VendorPanel for its user-friendly interface, noting how easy it is to use effectively. Its logical layout and intuitive functionality make it accessible even for individuals without specific training, contributing to an overall positive user experience.

Difficult Integration with Non-Qualified Vendors: Some users have found it challenging to integrate non-qualified vendors into the RFQ process. 

Inconvenient Search Bar: Users have expressed inconvenience with the search bar in VendorPanel, as it requires the exact company name to be entered for recognition.

Additional Cost for Reporting Analytics: The reporting analytics feature comes at an additional cost, which some users would prefer to be included in the standard subscription.

VendorPanel has proven to be a valuable tool for users in various procurement processes. Users appreciate its transparency and compliance, making it an effective solution for managing tendering processes. The software streamlines the contractor renewal process, saving significant manpower that was previously needed for this task every few years. Transitioning from manual tendering to VendorPanel's electronic system is seamless, allowing officers to easily source quotes and evaluate responses.

Users find the user experience with VendorPanel to be fantastic overall, thanks to its user-friendly site, logical layout, and step-by-step instructions. The support team is highly regarded for their wonderful assistance whenever needed. VendorPanel ensures sound procurement practices and ticks all the necessary boxes, providing a consistent approach to the market across different directorates. Users appreciate the convenience of managing tenders at their own pace, opening and closing them within a month period.

While users generally find VendorPanel to be an excellent solution, there are areas for improvement. Some users tend to evaluate quotations and tenders offline despite the software's capabilities in this regard. However, there is a desire among users to see greater usage of VendorPanel within their agency, and expanding its functions is expected to further increase its uptake. In summary, VendorPanel offers a reliable and efficient way to manage procurement processes while maintaining compliance and transparency.

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DocuSign CLM, formerly SpringCM, is a cloud-based platform that can be used to manage documents, contracts and related collateral.  The solution includes workflows that can be tailored to an organization's  business processes. It is also designed to accelerate team collaboration. SpringCM was acquired by DocuSign in the summer of 2018.

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VendorPanel

Contract management software is a program or series of related programs for storing and managing legal agreements such as contracts with vendors, leases and licensing agreements.

Contract Management

Contract Authoring

Features related to the contract authoring process.

Contract creation

Includes a document generator and tools for creating new contracts.

Contract templates

Allows users to set up templates or templatize old contracts in order to make new contract creation easier and more consistent.

Clause library/saved fields

Users can save certain fields of a contract for re-use; these may be stored in a template or a clause library.

Integration to CPQ

Integrates to CPQ software so that calculated quotes/configuration details can feed into contracts. This is an important element of automation in the contract authoring process.

PDF generator

Users can generate PDFs of contract documents.

Contract attachments

Users can attach other documents, like invoices, images, meeting minutes, memos, etc, to contracts.

Guided logic

Automated questions (based on company policies and the circumstances of the deal) help with the contract authoring process; this is an example of partial automation.

Contract Collaboration

Features related to collaborating on contracts.

Contract sharing

Users can easily and securely share contracts with internal users and external users. Contracts are accessible.

Contract editing

Contracts can go through multiple drafts and revisions; the software supports multiple versions and version comparison.

Contract merge

Multiple versions of a contract can be merged.

Collaborating on contracts

Internal and external users can collaborate on contracts without changing the text of the contract; this may be done through comments, questions, and/or message board conversations.

MS Word plug-in

Users can make changes to contract language using Microsoft Word.

Approval process

Approval workflows can be configured to streamline and automate the approval process; the approval process is helpful and convenient.

Parallel approvals

Users can set up complex workflows to handle parallel approvals.

Interdepartmental workflows

Users can set up interdepartmental workflows so that contracts can flow between teams in a logical and organized manner.

Contract Monitoring

Features that enable users to monitor the status of contracts.

Contract database

Contracts are stored and organized in a central repository.

VORs

Allows users to send/receive variation order requests and coordinate these with contracts.

Contract search

Users can easily look up contracts within the database.

Contract milestone reminders & alerts

Users can schedule reminders and/or trigger alerts according to contract milestones.

Custom contract reports

Users can create custom reports about the status of contracts, contract timelines, efficiency, and revenue tied to contracts.

Tracking contract status

Users can track the status of a contract as it moves through the approval process and beyond.

Salesforce integration

Integrates to Salesforce so that contracts are tied to contact’s CRM records.

Compliance check

Users can define and enforce complex business rules related to compliance regulations; helps automate or partially automate contract compliance check.

Tools and features to aid in contract management and formation.

Contract Storage

Centralized storage and management of all contracts in one place.

Ability to upload, organize, and track changes to contract documents.

Advanced Search and Filtering

Efficient search functionality and advanced filters to quickly locate specific contracts or clause language.

Version Controls

Ability to track and manage different versions of contracts, including changes made and the history of revisions.

Customizable Contract Templates

Pre-defined templates that can be customized for different types of contracts.

Workflow Acceleration

Streamline the contract approval process by automating workflows and notifications.

E-Signatures

Capability to electronically verify user signatures, eliminating the need for physical signatures and enhancing efficiency.

Reminders and Alerts

Automated alerts and reminders for important contract dates, deadlines, and milestones.

Analytics and Reporting

Generate reports and gather insights on contract status, performance, and compliance.

Integration with other Systems

Ability to integrate with other tools, such as CRM or ERP systems, to exchange contract data seamlessly.

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VendorPanel

Overview

What is VendorPanel?