VendorPanel is a secure procurement platform designed to streamline the sourcing process for organizations. It helps businesses identify and engage with suppliers efficiently while ensuring compliance with procurement regulations. The platform serves a wide range of clients, including local governments, corporations, and other organizations that require robust supplier and vendor management solutions. Operating in the procurement software market, VendorPanel offers tools for preferred supplier and vendor management, contract management, and procurement collaboration. The business model is based on a Software-as-a-Service (SaaS) approach, where clients subscribe to the platform to access its features and services. VendorPanel generates revenue through subscription fees and possibly additional services or premium features.

Keywords: procurement platform, supplier engagement, compliant sourcing, vendor management, contract management, SaaS, local government, procurement collaboration, supplier compliance, preferred suppliers.