Combining Compliance With Innovation
- Compliance , IT Innovations
- 10.04.2017 07:15 am
The demand for technology has risen over the years, mostly for supporting centralized data collection, streamlining procedures, and managing the constant changes in regulations with attention to risk and complying with client guidelines. With increased reliance on technology, vendor management systems are getting a major overhaul. The key components that are being focused on are analytics, automation, and data administration.
United Field Services, Inc. has created a proprietary vendor management system that effectively maintains stability in its vendor network, monitors ongoing service expectations and results, and processes vendor activity efficiently. As a company that strongly believes in unification and partnership with its vendors, the MS system is strategically contributing to help fight blight in vacant and abandoned properties which in turn promotes safe and viable neighborhoods. With multiple servicing requests such as property preservation, asset management and property inspections, United Field Services is working diligently to set and maintain the highest of standards.
In order to better understand the inner workings of MS, United Field Services has identified the three main areas of focus that help set it apart from its industry competitors. Among other significant features, the MS vendor network system is supported by its comprehensive document repository, coverage mapping technology, and vendor feedback and scorecard integration.
Training Documents and Requirements
With automation being the key feature, the vendor never has to worry about expired documents as the system automatically alerts the vendor via email that expirations are pending and to renew certificates and licenses accordingly. This too can be said about changes in contracts that have recently been edited and in turn need to be resubmitted.
Accurate service/coverage areas that require an in-depth location with drive time capabilities that identifies a vendor's potential turn-around time for completion of work. These precise areas are then inputted onto a real-time mapping tool that allows the assigning team members to accurately allocate work requests.
Vendor Rating and Feedback
Vendors have the ability to receive feedback on a monthly basis through their vendor profile. They are designated ratings or "stars" based on their turn-around time, communication and, most importantly, quality. Comments and suggestions on how to improve are also communicated through this channel which in turn allows for better training procedures to take place for current and future on-boarding vendors. MS system allows the vendors to keep track of the quality of their work regularly and maintain 5-star quality work.
MS is an all-inclusive hub, automating and accurately analyzing data from initial application to vendor management operational tasks. United Field Services, Inc. is continuously on the lookout for the latest breakthroughs and innovations in developing user-friendly content as technology becomes the forefront of the continued success of the mortgage servicing industry. Adapting to the constant changes in the industry, the MS vendor system is capable of meeting and exceeding the expanding needs of clients and vendors.