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What is the Bid Room in Portfolio Financials?

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 Note
The information in this FAQ applies to accounts with the Portfolio Financials product in Procore. 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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