Here are some common questions that we hear from our government partners.
What's the difference between Vendor Registry and an ERP?
ERP (Enterprise Resource Planning) solutions are vital for helping manage the Core Software Requirements of a government agency. Some ERP solutions also offer additional functionality such as web portals for taking in Utility Payments, Permitting and Business License Payments, Employee Self-Serve and Vendor Self-Serve. In many instances, an ERP Vendor Self-Serve focuses on existing Account Payable Vendors.
Vendor Registry provides a toolkit to augment your Core Software at no charge to your agency or your vendors. Its toolkit includes URLs for your website to allow vendors to self-register to be added to your bidder/notifications list, along with a tool to assist you in posting your Request for Proposals and Request for Quotes. When a vendor registers with you using Vendor Registry and you post a bid or request for quote that matches the vendor’s goods and services, a notification may be sent to alert those vendors of an opportunity to do business with you.
Accounts Payable core software may then be used to track vendor Purchase Orders and Payables for vendors who have been selected by your agency. Using Vendor Registry’s Vendor Management software together with your accounting software together allows you to not only provide transaction visibility to vendors, but also manage vendor information of those who wish to do business with you. Also, by using Vendor Registry to post bids and request for quotes, you can keep your website up-to-date as expired bids are automatically updated when your deadline arrives.
Can I use Vendor Registry with my accounting software?
Yes! Accounts Payable core software offers features primarily to vendors who have already been selected by the agency. Agencies using both Accounts Payable core software AND Vendor Registry can post a Vendor Self-Serve link provided by their ERP software on their Finance/Accounts Payable web page so existing vendors may view invoice and check history, and Purchasing can post Vendor Registry’s Bid Posting and Registration links on its Purchasing web page. This allows each agency to accommodate not only current vendors signing on to see if an invoice was received, or if a check was issued, but also new vendors who wish to do business with them. Also, by using Vendor Registry to post bids and request for quotes, your website will always be up-to-date as expired bids are automatically updated when your deadline arrives.
Why would I need Vendor Registry if I have an accounting system in place?
Many accounting software offerings focus more on vendors you have currently awarded. Adding a toolkit like Vendor Registry augments your core accounting software, thus bringing competition, lower pricing and transparency to your vendors and constituents.