Vendor management

Prism has made significant advancements in its RFP and procurement capabilities over the past year, particularly within the bid management functional module. A key new feature is the vendor, property service and mat in the bid management module. This enhancement allows customers to include multiple properties (up to 250) in a single RFP request. Customers can now mandate a specific number of properties that vendors must respond to, while vendors have the flexibility to select which properties they want to include in their proposals.

Once vendors submit their RFPs, the PMO (Project Management Office) can easily review all submitted proposals. They now have the ability to selectively approve and award contracts by choosing specific properties and vendors. This new system creates a more flexible and customizable RFP approval and submission process, streamlining the entire bid management function. It eliminates the need to select vendors one at a time, making the process more efficient for customers handling multiple properties.