TradeTapp 7: release notes
The features which make us different.
Project Specific Evaluations
We’ve already introduced the TradeTapp Evaluation Engine in version 6: an algorithm which instantly (yes, literally!) identifies the key risk drivers on a given contractor’s profile and then leverages those indicators to make appropriate mitigation recommendations. Now we’re taking this one step further, allowing users to evaluate that same contractor in the context of a potential award. Knowing that the project specifics and timing of the award are crucial considerations when evaluating risk, this tool re-evaluates the scenario in a timeframe practical to the procurement process.
We envision this feature as the a risk manager or CFO’s best friend — allowing them to handle the volume of review requests with the efficiency that they need. Without waiting, a new evaluation is rendered, and the risks are updated along with the mitigation recommendations. It’s the type of common sense approach nobody has built in a service product.
A TradeTapp prequalification workflow is rooted in consistency, as we strive for our users not to be reliant on absolutes in the procurement process. Designations like “approved” or “rejected” don’t allow for the type of flexibility needed to inject an effective risk management program into the vetting process. The question, “What’s this contractors prequalification status?” can be replaced with, “How can I make this award, at this moment, in a responsible way?”
Risk Mitigation Plans
With project specific evaluations comes the ability to create custom risk mitigation plans. TradeTapp is a product for automating the collection and compilation of data, not for automating judgement. We make risk mitigation recommendations but we do so with the understanding that our users are much more intimately involved with the award process.
You can either take our recommendations, or create your own.
Risk mitigation plans are saved to each contractor’s profile in TradeTapp, making it easy to export and communicate these plans to the key stakeholders in the company. In addition, keeping all of the risk mitigation plans in one place creates a historical record of accountability and consistency — both for the GC and the Subcontractor.
The Local Network
The local network is an exportable grid of all the subcontractors in your database. We made the local grid easily sortable, searchable, and consistent with the design of the rest of the TradeTapp platform.
Other Improvements:
- Submission Rejection workflow
- Badge counter for invites grid
- Invitation status updates
- Vendor Form improvements
- Financial input workflow improvements
- Bug Fixes
