In this update:

• Improvements to Supplier Selection
• Pre-Market Approval by Value Threshold
• Minimum Supplier Requirement by Value Threshold
• Procurement Home

Improvements to Supplier Selection

An upcoming change in the VendorPanel Go-to-Market module will make it simpler to select a Supplier List. Changes to the User Interface of the ‘List Selection’ stage of the Wizard will better support buyers to make the right selection when choosing Lists to use.

In addition, improvements to the ‘Supplier Discovery’ stage of the Wizard will make the powerful filtering tools more apparent to Buyers so they can easily find best-fit suppliers.

The gif on the right-hand side of the page shows the new experience of selecting a Supplier List type, then refining the search by category and using tags to find best-fit suppliers.

Pre-Market Approval by Value Threshold

Within Go-to-Market you are able to set ‘pre-market’ approvals that require a RFx to be approved before it’s sent to suppliers. The new functionality titled ‘Threshold Approvals’ allows you to customise your pre-market approvals to trigger at a certain $ value threshold. This provides the flexibility to require approvals for RFx valued above a specific threshold, without imposing an unnecessary approval process for RFx below that threshold.

These approvals are now live and can be applied at both Local Group level and individual Buyer level.

The gif on the left-hand side of the screen shows a user enabling these thresholds in the Local Group settings.

If you require any further information on these please reach out to our Support team.

Minimum Supplier Requirement by Value Threshold

In addition to the customisation of pre-market approvals by $ value shown above, we’ve addressed customer suggestions to allow Administrators to set a minimum number of suppliers to be invited, based on the expected dollar value. If you have a policy that requires a certain number of suppliers to be invited for specific value ranges, this functionality can send any RFx’s that don’t meet your policy requirements for approval, while allowing those that do to go directly to suppliers..

The gif above shows someone enabling the Minimum Supplier Requirement Thresholds.

This functionality is not enabled as a default. Contact the VendorPanel Support Team to have this feature turned on.

Procurement Home

For clients who are using multiple modules such as Procurement Planning and Advanced Contracts our Home has been created to provide a central entry point. The new sentence builder helps navigate users to the right module.

If you do not currently have access to this but are interested in learning more, please reach out to your Account Manager.