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AboutRead In 7 Minutes
Simplifying Procurement & Collaboration
The 4castplus Vendor Portal is a powerful solution for securely managing the procurement process from bid management to issuing and e-signing purchase orders.
The vendor portal vastly reduces the time and effort for both buyers and vendors as it serves as a collaborative platform for communication, document exchange, and the enforcement of standardized processes. For a busy procurement team managing dozens of RFQs and Purchase Orders, the vendor portal streamlines and organizes the entire buyer-vendor relationship.
Vendor Portal for Bid Management
Most procurement professionals will know the sheer amount of overhead and manual effort that’s required when managing the RFQ or RFP process with subcontractors or suppliers. Especially if it’s a technical bid requiring documents (such as drawings and specifications), a bill of materials, legal contract details, options, delivery dates, shipping details, quality checks, and complex criteria for commercial and technical evaluation. When issuing an RFQ to ten or fifteen potential suppliers, the buyer team ends up juggling a tremendous amount of information. And that’s just for one RFQ.
Without the Vendor Portal to manage all that complexity, buyers are burdened with a vast amount of manual effort trying to keep everything organized. From coordinating emails, to reminders on bid closing dates, to price comparisons, to managing the many documents on a drive somewhere. Buyers can spend up to 60% of their day just on the mountain of clerical work trying to stay on top of things. Work that should be offloaded to a system.
The 4castplus vendor portal is that system. It consolidates the entire bidding process onto a centralized platform where buyers can easily work with multiple vendors throughout the entire bidding process. Including:
- Defining the list of materials, equipment or services to be procured
- Document management
- Legal and contract management
- Vendor selection
- Bid closing and sealed bid options
- Discussion forum
- Vendor acknowledgement and intention to bid
- Reminders and notifications
- Vendor upload of proposal, pricing and required documentation
- Dashboard for buyers to monitor the progress of the RFQ
- Commercial bid evaluation
- Award to PO
Once the RFQ is awarded, the vendor(s) will be notified, and the winning bidder(s) will then be able to go to the portal to manage the purchase order.
Learn About The 4castplus Vendor Portal
Vendor Portal for Purchase Order Management
Whether a purchase order was initiated from an Award from an RFQ, or it was directly issued, the receiving vendor can access, acknowledge and e-sign the purchase order from the 4castplus vendor portal. Once the PO is issued, the vendor will automatically receive an email notification with a link that will take them directly into the vendor portal. The buyer doesn’t have to manually remember to update the vendor.
Submittals Management
Additionally, the vendor can go on to upload further documents (drawings, etc.) to the portal that are connected to the PO. This can be important in cases where the terms of the PO require the vendor to provide “Submittals” – often drawings – as a contractual obligation.
E-Signatures
4castplus provides built-in legally-binding e-signing technology for both buyers and vendors to execute the PO in a paperless and transparent platform.
Visibility & Reporting
Since 4castplus monitors and reports on all activities and actions by both buyers and vendors, the buyer team has continuous visibility into where things are at regarding their issued POs. Buyers can run a multitude of detailed reports on RFQ and PO status.
Procurement Productivity
The 4castplus vendor portal frees buyers from the burdens of manually managing the procurement process, including sending and receiving documents through email, communications, notifications on changes, key dates, and much more.
4castplus truly brings productivity to you.
Learn More
4castplus has been specifically designed to manage the heavy demands of construction projects. With powerful features and intelligent workflows, your teams will have greater visibility and control. Let 4castplus streamline the execution of your key projects and move your organization to the next level Contact us to learn more.
