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Vendr Release Notes: March 2024
Vendr Release Notes: March 2024
Patrick Payne avatar
Written by Patrick Payne
Updated over a week ago

3/7/2024 - Document Versions

Managing documents in procurement just became more streamlined and intelligent!

We recognize that handling many documents can get confusing quickly. Our new feature simplifies this process by allowing customers to upload new versions or associate documents already uploaded into the system with the current version.

How It Works

When you upload a document to Vendr, our system will have the ability to associate it with an existing document or upload it as a new version.

See our in-depth guide for more info.

3/27/2024 - All New Spend Reporting

How It Works

Our new spend report feature allows customers with premium procurement add-ons to seamlessly integrate their accounting and finance data from platforms like NetSuite, QuickBooks, or Sage Intacct. Gain access to both aggregate-level and individual supplier reporting. Export accrual-based or invoice/cash-based reports effortlessly. The default accrual spend view amortizes the entire contract amount over its duration, providing insights into whether you are underpaying or overpaying at any point in the contract. Switch between time frames or view a 12-month trailing perspective for historical data analysis. Drill down into reports for detailed transaction information or switch to an invoice view to see cash outflows.How This Helps Customers

  1. Real-Time Visibility and Control: Gain unparalleled visibility into your contracted spend with real-time tracking and management, ensuring you always have an accurate picture of your financial commitments.

  2. Proactive Spend Management: Proactively manage your contracted spend by identifying and addressing areas of overcommitment or underutilization.

  3. Strengthening Vendor Relationships: Enhance your relationships with vendors through transparent and informed discussions, leading to more favorable terms and stronger partnerships.

  4. Strategic Renewal Management: Transform your renewal management by aligning your contracted spend with your business objectives, driving success and contributing to your overall growth.

Who gets access

Customers who add-on Premium Procurement will have access to these new reports. Customers using our old integration style will receive communication to update however we will offer a grace period through Q2.

Additional Resources

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