What is Vendor & Contract Management Module for?

What is Vendor & Contract Management module for?

The main purpose of the Vendor & Contract Management module is to help the facility manager and his/her team manage both their vendors’ information and contracts easily. The centralised view of the relevant contracts and other useful information will allow a seamless and transparent operation flow in terms of building maintenance operations. Usually, vendor and contract modules will be managed by the procurement department.

It also has an in-built validation design to safeguard the sanity of data. For instance, a vendor technician can be assigned work only when the vendor has a valid contract. Additionally, the vendor technician can be given access to Buildfolio provided a valid contract for the vendor exists.

Vendor

Vendor & Contract module allows the facility manager to capture all the vendors’ information such as contact information, licence information, and so on.

There are two modes to create vendors in the system. One allows users to create vendors with an ‘Approved’ status directly. The other requires the user to submit the new vendor for approval from a higher authority. Only an approved vendor can have a corresponding contract or purchase requisition raised against it. This is to ensure transparency and good governance in the building operations.

To help the procurement manager keeps track of vendors, reminders for validity date can be set up. Once configured, the user will receive email reminders going forward.

For step-by-step guides to adding and managing Vendors on Vendor & Contract Management module, see Create and Manage Vendor.

Rates Book

Vendor & Contract module allows the facility manager or/and procurement manager to create and manage rates book for each location. The rates book may encapsulate all the items, be it service or product, with their respective prices that will be used in the Work Order’s Cost tab.

Facility maintenance allows the creation of an extensive list of prices agreed upon for the different services rendered in ensuring the building upkeep. With the rates book, the Facility Manager will be able to update the Work Order Cost tab easily and without error, as it eliminates the manual price checking process.

For step-by-step guides to adding and managing Rates Book on Vendor & Contract Management module, see Create and Manage Rates Book.

Contract

Vendor & Contract module allows the facility manager or/and procurement manager to create and manage contracts for each location. The maintenance of the building involves the various types of assets and services, which require special skill sets, thus attributes to the high number of contracts.

The contract will encompass information such as contract title, description, vendor,  area handled, work scope, rates book that is applicable, and so on. The system allows the work supervisor to assign the work orders to the respective technicians from vendors to get them fixed within the service level agreement if only they are registered vendors and have valid contracts.

Similar to vendors, the system can remind the user to review a contract before it expires.

For step-by-step guides to adding and managing Contracts on Vendor & Contract Management module, see Create and Manage Contract.

More on this topic

• For step-by-step guides to using Vendor & Contract Management module, see Vendor & Contract Management Module.