How VendorPM is Eliminating Silos in Contract Management

As one of North America's fastest growing procurement and vendor management platforms, VendorPM has announced the launch of its contract management module.

This breaks new ground, as VendorPM says it is the only solution in the industry to unify vendor credentialing, eTendering and contract management into a single, streamlined workflow — eliminating the inefficiencies of fragmented systems and multiple logins.

Revolutionising procurement for real estate

VendorPM is the leading procurement solution for the real estate industry for its unifying capabilities – transforming how real estate professionals manage their vendor ecosystem while enabling vendors to effortlessly market their services. With the industry long struggling with fragmented point solutions and manual processes when managing vendor relationships – which has led to risk exposure where it need not be necessary.

As well as inefficient processes and an overall lack of visibility and governance, VendorPM's new Contract Management module addresses these challenges by centralising contract storage, automating renewals and AI-driven analysis to drive costs down — all within one platform.

"Our mission since day one has been to modernise and streamline vendor management for property managers across North America," says Emiel Bril, CEO & Co-Founder of VendorPM.

"With the launch of our contract management module, property managers no longer have to juggle multiple logins, disparate systems and manual workflows. From vendor onboarding to contract management and compliance tracking, everything is now accessible in one seamless experience.

"Our goal has always been to drive efficiency, compliance and cost control in vendor management and this expansion makes VendorPM the only end-to-end solution in the market to do so."

One workflow to solve all challenges

There has been an ever-increasing need for a solution like this. According to a new white paper from Multimedia Family Network, which highlighted the increasing need for a unified vendor management solution, citing the pain and inefficiencies faced by property management firms today as a result of disconnected systems.

The report says a staggering US$600bn is spent annually by the industry on service vendors in North America alone, highlighting the transformative potential of technology in helping property management firms enhance operational efficiency and gain a competitive edge.

A year of transformative growth

VendorPM has invested heavily in innovation over the past year, introducing several major enhancements to meet the demands of the industry. Notable releases have included:

• Yardi ERP Integration – designed to sync critical vendor information across both platforms and manage vendor workflows within a single ecosystem.
• AI-Procurement CoPilot – the first of many AI-powered features built to simplify vendor sourcing and procurement, with intelligent recommendations and insights to streamline decision-making.
• RFX Templates – reusable, customisable RFP/RFQ templates to streamline procurement processes, ensure consistency and save time across all tendering activities.
• Tender & Award for Multiple Properties – vendors can respond with tailored quotes for each property, while property managers can award contracts individually—maximising flexibility and minimising administrative lift.
• Scalability for Enterprise Clients – Improved performance and customisation options for large property management firms managing extensive vendor networks.

VendorPM closed its Series A funding round in 2022 and has since cemented partnerships with some of the largest property management firms in North America, including Related Group, Avison Young, Colliers, BGO, Dream, Triovest, Golub & Company and Mid-America Real Estate.

The company has also been recognised by PropTech Breakthrough as the "Commercial Property Management Platform Of The Year" the past two years in a row.

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