Farmington Hills, Michigan-based Farbman Group selected VendorPM as its enterprise vendor lifecycle management (VLM) platform. Andrew Farbman, CEO of Farbman Group, made the announcement.
VendorPM is a vendor lifecycle management (VLM) platform for enterprise property management organizations. It brings together vendor onboarding, credentialing, e-bidding and contract management in a single end-to-end system designed to support the complexity of real estate operations.
“This partnership reflects Farbman Group’s commitment to efficiency, risk management and cost control across its vendor operations,” said Emiel Bril, co-founder and CEO at VendorPM. “Historically, vendor compliance, competitive bidding and contract oversight have operated in silos, often monitored through spreadsheets, email threads and reactive follow-up. By adopting VendorPM’s full lifecycle platform, Farbman Group now has the ability to unify these processes under one roof. We look forward to seeing how our services help manage the firm’s portfolio and improve efficiency across operations.”
Through this collaboration, Farbman Group will work with VendorPM to:
- Eliminate manual vendor workflows by replacing separate, spreadsheet-driven processes with a single automated system.
- Centralize credentialing and compliance, reduce risk exposure and manage certificate of insurance (COI) expirations and vendor vetting before bidding, with support from a fully managed team.
- Strengthen procurement governance by implementing competitive bidding workflows across the firm’s full portfolio.
- Through a Yardi ERP integration, synchronize critical vendor information across both platforms and manage workflows within a unified system.
- Centralize contract oversight by consolidating vendor contracts and documentation.
- Gain full visibility into vendor spend by supporting informed decisions at every stage.
