Prism’s Bid Management module provides a comprehensive toolkit for property management teams to create, manage, and evaluate competitive vendor bids efficiently and compliantly. It brings transparency and consistency to every stage of the procurement process — from bid creation through vendor evaluation, comparison, and contract award.
This guide covers all features available to property management end users, including multi-property bid workflows, vendor administration, bid comparison, and integration with the Contracts and Accounting modules.
Bid Creation and Management
Creating a Bid
Bid creation in Prism is the foundation of the competitive procurement process. A bid request defines the project scope, participating properties, required vendor responses, and timelines.
Steps to create a bid:
- Go to Bid Management → Create Bid.
- Enter a Bid Name (does not need to be unique).
- Choose the Property Management Organization if you manage multiple PMOs in your account.
- Select a Contract Length option:
- One Time Only – for single-event services or discrete projects.
- Fixed Term – define duration in months or years.
- Ongoing – for continuous or repeating services.
- Add one or more Properties using the Property Selection Matrix.
- Define the Bid Classification as CapEx (capital expenditure) or OpEx (operational expenditure).
- (Optional) Link the bid to an existing Project to connect to budgets and cost tracking.
- Enter a Budget Amount and set a Request Deadline (minimum 5–6 days from creation).
- Add an Award Date and Walkthrough Date if applicable.
- Enter a Bid Description (minimum of 144 characters).
- Attach any supporting files such as scope, drawings, or specifications—files can only be added during creation.
- Select a Template (or create a new one) for standardized question/response structure.
- Choose vendors under Manual Invite Only. Vendors without an email contact appear grayed out.
- Review all input fields and click Send Bid Request.
Important Notes:
- Editing a sent bid immediately returns it to Draft and clears vendor responses.
- The bid’s display information becomes visible to invited vendors once issued through Prism.
Property Selection Matrix for Complex Multi‑Property Bids
The Property Selection Matrix allows you to manage bids that apply to multiple properties simultaneously. It provides a filterable, grid‑based interface to select, view, and apply multiple properties within a single bid.
Key capabilities:
- Filter by property type, location, or region.
- Check or uncheck multiple properties in one screen.
- Apply uniform deadlines or attach separate documentation applicable across all selected properties.
- Supports side‑by‑side visibility for property information, enabling vendors to understand portfolio‑level scope clearly.
When you select properties through the matrix, the chosen list creates one composite bid request linked across all included properties.
Reopening Vendor‑Specific Bids
Reopening a bid for one or more vendors allows the account manager to re‑enable bid participation without restarting the process.
How to reopen vendor‑specific bids:
- Open the bid in Pending Award or Open status.
- In the vendor response list, locate the vendor.
- Select Reopen Vendor Bid.
- That vendor’s submission resets to No Reply. Other vendor statuses remain unchanged.
- Notify the vendor via email for transparency.
This function is typically used when a vendor experiences technical issues or submits incomplete documents.
Deleting Bid/Proposal Requests
To delete a bid:
- Locate the bid record in the bid listing view.
- Select Delete from the action menu.
- Confirm deletion when prompted.
Only users with Can Manage Proposals permission may delete bids. Deleting a bid permanently removes all associated vendor responses and attachments.
Closing a Bid Without Selecting a Winner
- Open the active bid profile.
- Select Cancel Bid.
- Choose Close Without Award.
This finalizes the bid without awarding a vendor. The system archives vendor submissions and reports the bid as Cancelled. No contract is created.
Managing Your Bid
Once a bid is issued, you can use Bid Management → Bids to:
- Monitor Statuses:
- Open – accepting responses.
- Pending Award – responses received and ready for review.
- Past Due – deadline passed.
- Fulfilled – completed and awarded.
- Cancelled – closed without award.
- Resend Bid Invitations.
- Edit Bid Deadlines or Content.
- View Vendor Responses and Comparison Reports.
- Award or Withdraw Bids.
Bid Comparison
Comparison is a critical part of the evaluation process. It enables side‑by‑side review of pricing, responses, and compliance across all vendor proposals.
Accessing Bid Comparison
- From the bid list, open a bid with at least one vendor response.
- Click View Comparison.
Comparison View Features:
- Each vendor appears as a column; each bid question, attachment, or value appears in rows.
- Display fields for pricing, frequency, and currency.
- Links to view vendor‑uploaded proposal files or supplemental documents.
- Quick toggles to print, export, or record evaluation comments.
Exports and Actions
- Export PDF: Landscape‑formatted file designed for management review.
- Export Spreadsheet (XLSX): Includes expanded pricing fields and declarations.
- Add Win/Loss Reasons: Record decision justifications for transparency.
- Award Vendor: Choose a winning vendor directly within the comparison screen.
Awarding a bid automatically changes its status to Fulfilled and enables contract creation.
Vendor Administration
Management of vendor access, participation, and invitations ensures fair competition and data integrity.
Add Vendor to BlockList
- Navigate to Bid Management → Vendor Block List.
- Click Add Vendor.
- Select from two options:
- Every Bid in My Organization – permanent exclusion.
- One Specific Bid Request – limited to a specific bid.
- Save to enforce.
When blocked, vendors can no longer appear in vendor selections or access tokenized bid links.
Add an Additional Vendor to an Existing Bid
- Open an active bid in Open or Draft state.
- Click Edit Bid.
- Select additional vendors from the list.
- Resend the bid request to include them.
Note: Editing resets all vendor responses. Use sparingly after submissions begin.
Resending Bid Invitations
If vendors fail to respond or lose their original invite, you may resend the tokenized invitation.
To resend:
- Navigate to the open bid record.
- Find the vendor name.
- Select Resend.
- Confirm. The system automatically sends a new access email.
Bid Management Accounting
Accounting in bid management links awarded bids to the organization’s purchasing and expense tracking framework.
Purchase Orders and Contract Creation
Upon awarding a bid:
- Select Create Contract from Winning Bid.
- Verify automatically populated vendor, scope, and pricing data.
- Add contract metadata—contract name, start/end dates, payment frequency, and department allocations.
- Save.
This action:
- Creates a contract record in the Contracts Module.
- Updates related cost tracking metrics in integrated Projects or Accounting modules.
- Enables generation of Purchase Orders where applicable.
The contract record keeps a direct link to the originating bid for traceability and audit purposes.
Contracts Module Relationship
The Contracts Module acts as the endpoint for bid management. When a bid is fulfilled:
- All vendor, pricing, and property data transfer automatically.
- Comments and win/loss details appear in the contract record.
- The contract becomes part of ongoing expense management and compliance oversight.
This integration ensures the full procurement lifecycle—from initial bid to contract execution and cost monitoring—remains auditable within Prism.
FAQ and Best Practices for Property Management
- Can vendors still submit their proposal after the due date?
No. Once the deadline expires, vendors cannot submit unless the PMO extends the date. - Once a vendor is selected, how do you close the Bid profile?
Select the winning vendor, create a contract, or mark “Close Without Award” to finalize.
Additional Tips
- Track response rates to assess vendor engagement.
- Keep vendor contact data current—no email means no invitation.
- Always use templates to maintain consistency inside the evaluation framework.
- Document all award decisions for audit transparency.
- Resend bids only when necessary to avoid version confusion.
- Link bids to projects for accurate cost forecasting.
Summary
Prism Bid Management provides end‑to‑end visibility over each phase of the procurement journey.
Through the Property Selection Matrix, configurable templates, comparison tools, vendor‑specific control, and seamless integration with Contracts and Accounting modules, property managers can execute compliant, data‑driven, and efficient procurement decisions.