Maintaining and tracking vendor bid documents, contracts, insurance certificates and W-9 forms has always been a difficult, paper-intense process for property managers. Increasing documentation regulations and requirements have made it even more important to effectively maintain vendor documents. As a result of efficiencies lost from this labor-intense area coupled with the need for more effective vendor communication, many commercial real estate companies are re-examining the whole vendor management process.

The Corvidea Vendor Information Module is an innovative tool that enables commercial real estate companies to efficiently manage the entire vendor qualification, selection and payment process. The module includes a collaborative portal that allows the vendor to maintain and electronically submit vendor documents and invoices. The portal and associated work sharing greatly reduces the time the property manager spends requesting, gathering, filing, verifying, updating and summarizing vendor information.