Qualitative and quantitative vendor data is centralized for smart decision-making
KITCHENER, ONTARIO, October 22, 2018 – Bonfire Interactive Ltd. (“Bonfire”), a leader in strategic sourcing and procurement technology, has launched a cloud-based Vendor Performance Management module that centralizes valuable vendor data, documents, and end user feedback. The module can be used independently or integrated into existing Bonfire products to complete the vendor sourcing life cycle.
Procurement teams can leverage Bonfire’s Vendor Performance module to gain insight into contract health and performance trends, quickly identify potential issues, and proactively respond to challenges before they impact the organization.
“We shared the product early and gathered a lot of feedback from our beta users to make sure we got vendor performance right,” said James Barr, Director of Product at Bonfire. “This tool is the absolute easiest way for clients to manage relationships with the businesses they rely on.”
Procurement teams can easily configure and automate surveys to determine performance data and trends, identify and correct potential areas of risk, and boost engagement with stakeholders by providing them with a frictionless opportunity for feedback. Bonfire’s vendor performance module empowers users to confidently make decisions when it comes to vendor renewals and awards.
The Vendor Performance Management module is available today and is the perfect complement to Bonfire’s eSourcing and Contract Management offerings. Speak to one of Bonfire’s vendor management experts to learn how your organization can leverage Vendor Performance Management for confident decision-making and to bring greater value to your end users. Visit www.gobonfire.com/vendor-performance-management.
Bonfire, a leader in strategic sourcing and procurement technology, empowers organizations to make the right purchasing decisions. With tools to support the entire vendor lifecycle (sourcing, contract management, and vendor performance), the Bonfire strategic sourcing platform goes beyond the mechanics of traditional procurement suites to centralize all sourcing activities. The platform works the way you do and is designed to unite stakeholders, absorb compliance requirements, and facilitate advanced evaluation activities. Bonfire powers over $20-billion dollars worth of decision making across 250+ customers globally, and is recognized as a 2018 Gartner Cool Vendor. www.goBonfire.com
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