Vendor Management
Reduce the administrative burden put on your project teams with smart vendor management
Challenges faced when managing vendors
- Find the back-and-forth process of prequalifying vendors time-consuming?
- Are you and your supply chain partners sick of wasting time repeating the same prequalification process for every project?
- Are vendors providing incomplete responses to your prequalification questionnaires?
- Fed up with chasing up your vendors insurances and licenses prior to expiration to help mitigate your supply chain risk?
- Ever re-engaged a vendor only to find out later they performed poorly on another project?
Streamlined vendor prequalification
Vendor Management streamlines and centralises prequalification and ongoing vendor management compliance, eliminating task duplication and reducing administration time.
Using Vendor Management means that:
- Vendors only need to register once. Once approved, they are ready to be engaged across all projects.
- Information received is complete, reducing approval delays.
- Prequalification questionnaires can be specific to a risk profile or project, with information routed to the right person for approval.
- Approvals against low-risk criteria can be automated, saving more time.
- Coming soon: AI-powered technology speeds up the process of adding compliance information for the most common types of insurances during vendor onboarding.
Empower your project teams with easy access to a central vendor database
Stop working in silos by connecting your projects and supply chain in one platform. When using Felix, all your prequalified and approved vendors form one searchable database for your entire organisation. Easily save views for specific business units, projects or regions and reduce the administrative duplication.
Using Vendor Management means that:
- You can rely on Felix for ongoing compliance. Receive automated reminders for renewals of insurances/licenses to ensure your organisation remains safe to work.
- Critical information is summarised with the use of tags. Tags are icons that act as visual cues and sit against vendor profiles, providing a snapshot of unique business attributes and sharing critical information in sourcing workflows to project teams.
- Reporting is made easy for local, indigenous owned, equal opportunity requirements and more. Streamlined and centralised information makes it easily accessible and adds value for future bids.
Performance evaluations lead to better procurement decisions
Your experience with a vendor today should inform tomorrows procurement decisions.
Conduct periodic or discretionary performance evaluations of vendors against weighted criteria, which can be reflective of service type. Whether it’s close of contract or mid-contract, customise and choose from different evaluation templates to get a better picture of overall vendor performance.
Overall scores sit against vendor profiles, informing other organisational stakeholders of critical performance information to help guide future procurement decisions.
Seamlessly connect to your existing tech-stack
Felix feeds vendor information and insights into your existing ecosystem to enhance decision making and data quality.
Vendor data is seamlessly updated between Felix Vendor Management and your existing ERP, ensuring that vendor records always remain accurate and up-to-date.
Using business intelligence tools such as Power BI or Tableau? Not a problem! We also connect to many business analytic platforms, allowing you to understand your data better through the use of dashboards and visualisations.
