Power up your Procurement Tech with Integrated Modules

Power up your Procurement Tech with Integrated Modules

Written by Natasha Leporis, Head of Marketing - VendorPanel

Local Buy’s Nex Gen Procurement Tech continues to evolve. Along with our technology partner VendorPanel, we wanted to remind you of the extra capability that is available to Queensland Councils and NFPs.

Organisations that are on the fully funded Nex Gen Procurement Technology System can now access upgraded modules as part of the long-term Local Buy / VendorPanel partnership. These modules have been evaluated by Local Buy and are available to Councils and NFPs for sale, directly from VendorPanel. Individually or together, they can extend the benefits delivered by the core Go-to-Market platform into other parts of the procurement process. All three partner modules integrate with VendorPanel Go-to-Market. 

Procurement Planning allows you to ensure staff are fully prepared before they go to market. With it, you can generate a timeline, designate responsibilities, and manage any required approvals before sourcing begins. 

• Manage financial, legal and process risk from the outset 
• Increase productivity using a single planning, approval and sourcing tool 
• Generate assessment forms for buyers conducting high-risk procurement events 
• Set up specific timelines for distinct types of procurement, configured with business rules 
• Create checklists for staff at key milestones to capture actions outside the platform
• Transfer parameters, rules and other planning information directly to the RFx in the go-to-market phase, as part of a coherent, policy-compliant procurement plan
• Manage by exception with insights and reporting that allow you to focus on key activities 

Advanced Evaluations is an alternative to the Quick Select and Evaluation Matrix that is included with Go-to-Market. It is powerful and flexible, with clear, transparent processes and is fully audit ready. 

• Unlimited number of evaluators, working individually or in teams. 

• Comprehensive and flexible definitions for evaluation criteria and mandatory requirements, managed in a central library. 
• Digital capture and management of conflicts of interest. 
• Automated management of scoring and consensus scoring, with status updates via dashboard. 
• It is integrated with Procurement Planning, where the approach to market can be planned out and approved, and with Go- to-Market, where procurement responses are logged, finalised and awarded.

Contract Management gives you a powerful way to manage the contract lifecycle in line with best practice. At the end of your procurement event, you can easily transfer sourcing, evaluation and other details from VendorPanel Go-to-Market. 

• Improve efficiency by removing the cost of manually managing contract activity 
• Reduce risks with a library of common risks and issues 
• Manage by exception with insights and reporting that allow you to focus on key activities 
• Increase productivity using a single approval and execution tool 
• Strengthen outcomes with performance scorecards and SLA & KPI tracking 
• Make better decisions based on live operational analytics and management reporting 
• Ensure compliance by embedding and tracking contract milestones and obligations 

Image 1: Buyer initiated Assessment that can determine the planning process to be used.
Image 2: Consensus scores are the average of all individuals' scores, with ability to overwrite with comment.
Image 3: Sourcing and evaluation details are transferred from VendorPanel Go-to-Market so that the contract can be established and managed.

If you would like to learn more about this solution, get in touch with Glen Duff, Director - Strategy & Partnerships via email gduff@localbuy.net.au or phone 0406 320 422.