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What is the Bid Room in Portfolio Financials?

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 Note
This information is intended for accounts with Portfolio Financials product in Procore. Please reach out to your Procore point of contact for more information. 

Answer

The Bid Room is a portal in Portfolio Financials that is shared between owners and bidders during the bidding process. Each Bid Room has four different tabs for managing bids: Trade Setup, Bid Form, RFIs, and Manage Bids.

The following actions are some examples of what can be done in a Bid Room:

  • Share the RFP package
  • Invite bidders
  • Manage correspondence and RFIs
  • Compare and award bids

Vendors can only see the Bid Rooms that they have been invited to. Within a Bid Room, they can post RFIs, send messages, and submit bids. See Resources for Vendors.

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