In this high-tech age, it’s easy to think that software is the answer to just about every operational challenge. Yardi Systems is a streamlined property management software solution that can handle all aspects of property operations, but sometimes a full-scale software solution is overwhelming. To that end, it’s important to surround with quality vendors who can deliver products and services on time.

After all, no matter what is being offered to the residents, timely and quality deliveries of raw materials and services to get the job done is a must. The vendors are critical to the success. Here are a few tips to choose the right ones:

Mall operations are 24/7 affairs, which means there is a need of vendors to deliver goods and services on a regular basis. From housekeeping to holiday promotional materials, there is reliance on a wide range of vendors to keep the center running smoothly. It’s easy to be overwhelmed by the number of vendors, but the vendor management system can help.

Yardi Systems is a full-service property management software that is designed to be highly adaptable to the needs of the community. From resident engagement to compliance and vendor management, Yardi Systems has the tools one needs to manage every aspect of the community effectively.

In this blog post, we’ll take a closer look at Yardi’s vendor management features.

More About Yardi Systems

As discussed earlier, Yardi Systems is a complete property management software that can be tailored according to customer’s needs. Right from tenant relations management, and compliance management to vendor management, Yardi Solutions is an all-around software to manage properties effectively.

In this blog, we will focus on the vendor management feature of Yardi systems.

Features That Make Yardi Solutions Helpful in Vendor Management

To understand what makes Yardi Systems’ vendor management so effective, it’s helpful to look at its features.

  • Yardi’s vendor management software includes a dedicated portal that connects customers with the vendors. When they add a vendor to the system, they can place orders, schedule quality control inspections, process invoices, and pay bills directly from Yardi.
  • All of the vendor data is stored in one place, so they can view a vendor’s profile at any time to see their payment history, contact information, and other important details.
  • Yardi’s workflow engine lets them configure the system to meet their community’s needs. They can set up approval hierarchies for invoices and payments and add as many levels of approval as they need to ensure that no bills are missed.
  • Yardi also is a key component of Just-In-Time inventory management strategy. They can track stock levels and reorder items in real-time from within the system. They can also see which vendors to contact for replacement items and when.

How to Get Started with Vendor Management on Yardi Systems

Related Read: Account Outsourcing can Transform Your Business in India

Getting started with Yardi’s vendor management is easy. This resource helps in getting the most out of Yardi’s vendor modules, so the shopping centers run smoothly:

Step 1:

Create a profile for each vendor. The profile is a hub for all vendor information, including contact data and services provided.

Step 2:

Use Yardi onboarding to validate vendor information, set expectations, and share important documents in one place. This feature makes setting up profiles quick and easy.

Step 3:

Once the onboarding is done, use Yardi Solutions to manage various vendor tasks. Place orders, respond to requests, pay invoices, and more – all in one place.

Step 4:

Automate reminders for important events, such as contract renewals and upcoming orders. Set it and forget it – Yardi systems will send timely notifications so that critical vendor deadlines are not missed.

Step 5:

Yardi offers a range of reports and analytics, including aging analysis, work order analysis and vendor compliance reports. Use these resources to evaluate vendor performance and make informed decisions about vendors and pricing.

By following these steps, users can effectively harness Yardi solutions for thorough vendor management.

The Benefits of Using Yardi for Vendor Management

  • Yardi is a robust vendor management tool that consolidates all vendor activities into one user-friendly portal. Multiple events, requests and inquiries are a thing of the past. No more logging into different systems to access information. Everything is at the fingertips in Yardi.

    Related Read: Leveraging Data Analytics in Yardi for Mall Operations

  • Data is stored centrally in Yardi, so users can quickly access critical information whenever it’s needed. Being able to respond quickly to opportunities as they arise is critical to enhancing the shopping experience. A timely and targeted approach is key to driving sales and keeping tenants happy. The Yardi vendor portal is a direct link to clear and timely communication with business partners. Building stronger relationships with vendors is more important than ever in today’s retail environment.
  • In services, timing and quality are everything. Yardi’s vendor management tool lets you provide the right products and services at the right time and place to keep mall events running smoothly.

Why Choose Incorp?

Incorp is an industry expert when it comes to mall management and InCorp is proud to offer these services on the Yardi systems. The team is not just a property management service but is a solution for the mall management needs. In addition to the vendor management services, InCorp offer lease administration, reporting, and compliance services. InCorp take care of all the little details. Customers will have one Single Point of Contact (SPoC), no dashboard of passwords to remember, and no hassle of who to contact for what.

The Bottom Line

Vendor management is the lifeblood of mall management. From cleaning and maintenance to security and landscaping, there are a lot of vendors that keep the shopping center clean, safe, and attractive. Daily operations such as these are critical to the tenants and shoppers. If there are a lot of vendors, it’s not uncommon. But if there are 100+ vendors, it’s time to take control with Yardi’s vendor management module. This powerful tool allows to manage vendor onboarding and communication, track performance and schedule reviews, and track and pay vendors on time. Overwhelmed with multiple vendors and services? Don’t waste time and energy. Take back the time and focus on what’s important, its the tenants and shoppers.

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