Sourcing by HappyCo is where procurement and sourcing managers gather and compare competing vendor bids before awarding a job. Its AI, Joy, sits at the core of the app to help you start sourcing events and get the right vendor recommendations.
In this article
Where Sourcing runs
Bid Management (RFx / Sourcing) is in Manage, the web app where admins and managers configure the account and run day-to-day operations.
What Sourcing solves for procurement teams
Sourcing by HappyCo is built for procurement and sourcing managers: the people who gather competing bids from vendors before any job is awarded. They line up a handful of vendor bids, compare them and decide which vendor to award the job to. Sourcing manages that bidding process from start to finish.
What kinds of work Sourcing covers
Sourcing covers capital projects and also any recurring contracts and negotiations your property management company (PMC) has with vendors. The range goes right down to a single one-off replacement.
What Sourcing by HappyCo includes
Sourcing brings together four areas:
- Bid Management
- Spend Advisory Services
- Vendor Connect
- Portfolio Intelligence
Spend thresholds and competitive bids
PMCs typically set a spend threshold above which several vendors must bid. For instance, if doing or replacing something costs over $5,000, a PMC may want at least three vendors to bid. Gathering competing bids gives you a clean paper trail and the confidence to select the best vendor for the job.
Your company sets the rules
Your management company sets the threshold and the minimum number of bids. For instance, a $5,000 threshold could require at least three bids.
How sourcing managers choose the right vendor
Price is important, but it is not the only thing sourcing managers use to pick the best-suited vendor. They also weigh credibility, past performance where that information is available, compliance status and certifications. Your own company's priorities count too, such as preference for women-owned or minority-owned businesses.
| Criteria | Why it matters |
|---|---|
| Pricing | Important, but not the only factor in the decision |
| Credibility | The vendor's standing and reliability |
| Past performance | Track record, where that information is available |
| Compliance | The vendor's compliance status |
| Certifications | The certifications the vendor carries |
| Company priorities | Your company's own criteria, such as preference for women-owned or minority-owned businesses |
Joy, the AI at the core of Sourcing
All of this vendor information is fed into the app so Joy can make the right decision and give the right recommendation. Joy is the AI at the very core of Sourcing, and everything in Sourcing centres on Joy.
Agentic AI, not bolted-on AI
Sourcing is not AI added onto a standard web app: it is the other way around, and most of it is agentic. Behind the scenes, multiple agents run in sequence and in parallel to reach the outcome you want and keep your sourcing process moving.
Frequently asked questions
Who is Sourcing built for?
Sourcing is built for procurement and sourcing managers: the people who gather competing bids from vendors before a job is awarded.
Why do management companies require multiple bids?
PMCs typically set a spend threshold. For instance, once a cost exceeds $5,000, they may want at least three vendors to bid. This gives them a clean paper trail and the confidence to select the best vendor.
What kinds of work does Sourcing cover?
It covers capital projects, recurring contracts and negotiations a PMC has with vendors, right down to a single one-off replacement.
What is Joy?
Joy is the AI at the core of Sourcing. Vendor information is fed into the app so Joy can give the right recommendation. Behind the scenes, multiple agents run in sequence and in parallel.