In an era marked by rapid digital transformation, navigating the myriad of technology options and managing vendors is becoming increasingly complex and time-consuming. Companies are often inundated with offerings from vendors, creating a constant need for evaluation and communication. This results in many organizations finding themselves trapped in a never-ending cycle of inefficiency. However, a future where this vital process is not only streamlined but strategically enhanced to boost productivity is now a reality. Thanks to the launch of a groundbreaking feature in the Traction Technology platform, we are proud to introduce our latest innovation: the Vendor Solicitation Management (VSM). This feature is designed to revolutionize how companies engage with vendors contacting executives across an enterprise, saving countless hours and significantly improving overall productivity.
Announcing Traction's Vendor Solicitation Management (VSM)
This cutting-edge tool has been developed to simplify and streamline the vendor management process. The VSM feature puts a stop to the tedious task of sorting, categorizing, and responding to vendor solicitations. With a user-friendly interface, VSM allows your employees who do not want to engage with unknown vendors to effortless redirect vendor emails to the Traction Platform. As a result, an enhanced vendor profile is automatically generated that includes multiple datasets, and information on competitors. Once added to Traction, only designated IT teams are notified, thus eliminating unnecessary distractions for other employees and allowing them to focus on their primary duties.
How VSM Streamlines Vendor Management
VSM introduces a new paradigm in vendor management with its advanced features. It ensures that only qualified vendors are connected directly with the relevant internal stakeholders. This facilitates smoother communication and faster decision-making. Moreover, VSM accelerates vendor evaluations by automating the process of qualifying new vendors. It incorporates a sophisticated tagging system that classifies vendors based on specific criteria, ensuring that only the most appropriate vendors are considered. See how VSM works here in this video.....
VSM also revolutionizes the Request for Information (RFI) process by automating it, thereby removing the manual labor typically associated with RFIs. This leads to a more efficient and streamlined vendor evaluation process.
The Benefits of VSM
The integration of VSM into your vendor management process can unlock a host of benefits. It dramatically reduces the time spent by executives and IT teams on vendor-related communication, cutting the time to evaluate vendors by half! By automating vendor evaluation and the RFI process, VSM facilitates faster and more informed decision-making. VSM gives your organization a competitive edge in today's fast-paced business landscape.
Getting Started with VSM
The journey towards a more efficient vendor management process begins here. To get started with VSM, schedule a call with our team. We'll walk you through the capabilities of VSM and how it can be integrated into your existing work-stream. You can also sign up for a free trial to experience firsthand the transformative potential of VSM.
Managing vendor solicitation is an essential but often challenging task. With the introduction of VSM, we aim to simplify and streamline this process, allowing you to engage with only the most relevant and promising vendors. We invite you to join us on this journey towards efficient vendor management. Let's revolutionize the way we manage vendors together. Schedule a call today to learn more about VSM and get started on a free pilot.
We built Traction Technology to meet the needs of the most demanding customers, empowering individuals and teams to accelerate and help automate the discovery and evaluation of emerging technologies. Traction Technology speeds up the time to innovation at large enterprises, saving valuable time and money by accelerating revenue-producing digital transformation projects and reducing the strain on internal resources, while significantly mitigating the risk inherent in working with early-stage technologies.
Let us share some case studies and see if there is a fit based on your needs.
For more information
● Download our brochure: How to Evaluate Enterprise Startups.
● Watch a demo of our Traction Solicitation Management in action and start your free trial.