Proptech Leader Vendorpm Expands Its Platform With Contract Management, Creating Industrys First End-To-End Vendor Lifecycle Management Solution

VendorPM’s expansion marks a turning point for a $600B industry, unifying vendor credentialing, eTendering & contract management

TORONTO--(BUSINESS WIRE)--VendorPM, one of North America’s fastest growing procurement and vendor management platforms, has formally announced the launch of its highly anticipated Contract Management module. This cements VendorPM as the only solution in the industry to unify Vendor Credentialing, eTendering, and Contract Management into a single, streamlined workflow—eliminating the inefficiencies of fragmented systems and multiple logins.

Property management professionals have long struggled with disconnected point solutions and manual processes when managing vendor relationships, leading to unnecessary risk exposure, inefficient processes and an overall lack of visibility and governance. VendorPM’s new Contract Management module addresses these challenges by centralizing contract storage, automating renewals, and AI-driven analysis to drive costs down—all within one platform.

“Our mission since day one has been to modernize and streamline vendor management for property managers across North America,” says Emiel Bril, CEO & Co-Founder of VendorPM. “With the launch of our Contract Management module, property managers no longer have to juggle multiple logins, disparate systems, and manual workflows. From vendor onboarding to contract management and compliance tracking, everything is now accessible in one seamless experience. Our goal has always been to drive efficiency, compliance, and cost control in vendor management, and this expansion makes VendorPM the only end-to-end solution in the market to do so.”

One Workflow, One Login, One Solution
A recent white paper published by Multimedia Family Network highlights the increasing need for a unified vendor management solution, citing the pain and inefficiencies faced by property management firms today as a result of disconnected systems. The report cites a staggering $600 billion spent annually by the industry on service vendors in North America alone, highlighting the transformative potential of technology in helping property management firms enhance operational efficiency and gain a competitive edge.

A Year of Transformative Growth
VendorPM has invested heavily in innovation over the past year, introducing several major enhancements to meet the demands of the industry. Notable releases have included:

• Yardi ERP Integration – designed to sync critical vendor information across both platforms and manage vendor workflows within a single ecosystem.
• AI-Procurement CoPilot – the first of many AI-powered features built to simplify vendor sourcing and procurement, with intelligent recommendations and insights to streamline decision-making.
• RFX Templates – reusable, customizable RFP/RFQ templates to streamline procurement processes, ensure consistency and save time across all tendering activities.
• Tender & Award for Multiple Properties – vendors can respond with tailored quotes for each property, while property managers can award contracts individually—maximizing flexibility and minimizing administrative lift.
• Scalability for Enterprise Clients – Improved performance and customization options for large property management firms managing extensive vendor networks.

VendorPM closed its Series A funding round in 2022 and has since cemented partnerships with some of the largest property management firms in North America, including Related Group, Avison Young, Colliers, BGO, Dream, Triovest, Golub & Company, and Mid-America Real Estate. The company has also been recognized by PropTech Breakthrough as the “Commercial Property Management Platform Of The Year” the past two years in a row.

For more information, visit VendorPM.com.

About VendorPM
VendorPM is the leading procurement solution for the real estate industry, unifying vendor credentialing, eTendering & contract management into one log in. VendorPM's complete vendor lifecycle management (VLM) platform significantly improves process efficiency, optimizes vendor spend and provides unparalleled visibility and governance. VendorPM is transforming how real estate professionals manage their vendor ecosystem while enabling vendors to effortlessly market their services. With a network spanning over 10,000 buildings, 150+ property management groups, and 70,000 service vendors across North America, VendorPM is setting the new standard for vendor lifecycle management.

Contacts

Media Contact:
Natalie Calderon
Head of Marketing
ncalderon@vendorpm.com
(312) 529-0510