Elevate your procurement process with the Rapid Global and VendorPanel integration

Procurement is an equally essential yet time-consuming facet of managing a business. Balancing quote sourcing with verifying contractor compliance and wider business oversight can become complicated without the right tools. 

The integration between Rapid Contractor Management and VendorPanel Go to Market offers businesses a streamlined approach to vendor and contractor management. It allows users to seamlessly identify compliant suppliers, enhancing procurement, compliance, and risk management for organisations across many industries. 

What is VendorPanel?

VendorPanel is a complete, configurable procurement solution. It provides you with everything you need for any sourcing event, from procurement planning to payment – and every step in between. 

The suite allows you to manage both strategic and operational sourcing on one secure, cloud-based platform and drives best practice in managing decentralised spend. 

VendorPanel’s Go to Market solution enables organisations to manage all quote-based sourcing, from simple RFP to complex tenders. It offers a transparent, standardised process for managing supplier discovery, evaluations, awards, and audit-ready reporting.  

How does the integration work?

Through a standard plugin between the two platforms, verified compliance data is pulled from Rapid Contractor Management into VendorPanel’s Go to Market platform. When a supplier is registered in both platforms, their compliance status from Rapid will show against them in VendorPanel.  

A traffic light system will be visible against each supplier when viewing a list of vendors in the supplier discovery phase of the procurement process. This allows users and buyers to easily identify which suppliers are compliant (and non-compliant) at a critical stage in the procurement lifecycle.

Compliance status information will be added to the supplier profile, allowing users to view the status of the supplier and to access additional information in real-time, including status reason and approved supplier categories.

Why integrate Rapid Global and VendorPanel?

By combining VendorPanel’s procurement capabilities with Rapid Global’s compliance tools, users can efficiently manage the entire vendor lifecycle while ensuring safety and compliance standards are met. 

Key benefits: 

1. Simplified vendor management: The integration provides a centralised system for managing contractors and vendors, allowing businesses to easily monitor compliance and safety certifications. VendorPanel users can source only from suppliers that meet Rapid’s compliance requirements, reducing the administrative burden and improving vendor selection efficiency. 

2. Enhanced compliance and risk mitigation: The integration ensures that all suppliers meet required compliance standards before they are engaged in any project. Rapid’s compliance tools automatically cross-check vendor documentation and certifications, flagging any non-compliant suppliers. This minimises the risk of project delays and non-compliance penalties. 

3. Real-time compliance visibility: With the integration, compliance data from Rapid is visible in real-time within VendorPanel. Buyers can quickly identify compliant vendors using a traffic light system, making the vendor selection process more efficient and transparent. 

4. Centralised reporting and documentation: The integration allows for the centralisation of vendor compliance documentation and reporting. This ensures that businesses can track, store, and audit vendor information, making it easier to meet regulatory requirements and streamline internal audit processes. 

5. Improved efficiency in procurement and project delivery: By automating compliance checks and ensuring that only compliant vendors are selected, businesses can improve project delivery times, reduce procurement delays, and ensure that all engaged vendors meet safety and regulatory requirements. 

Want to learn more about the integration?

It’s easier than ever to streamline your procurement and compliance management with Rapid & VendorPanel. 

If you are interested in learning how this integration can enhance your workflow, talk to our team.