Financial institutions spend considerable time and resources identifying vendors that deliver the best results. Most loan origination systems (LOS) don’t include performance tracking reports or dashboard summaries to facilitate vendor evaluation and comparison. Furthermore, cloud-based LOS applications can charge per-click fees that tend to add up quickly. To address these industry challenges, Visionet is proud to offer VendorMetrics, a powerful and affordable vendor management platform.
RANK AND COMPAREReview each vendor’s track record, and monitor real-time performance
Visionet has distilled over ten years of experience in vendor management consulting, technology, and BPO services to produce VendorMetrics, a suite of solutions designed to simplify vendor management and oversight. It allows financial institutions to quickly and clearly compare the performance and SLA compliance of multiple vendors. Use rules-based automation or manual controls to score and rank each service provider. The VendorMetrics Business Intelligence engine uses these scores to generate concise dashboard summaries and visuals that bring clarity to vendor selection and assignment.
Our Clients Work Done Vendor Onbaording, Management, Compliance
SLA & REGULATORY COMPLIANCE Specialized tools for vendor compliance auditing and oversight
The Office of the Comptroller of the Currency (OCC), Consumer Financial Protection Bureau (CFPB), Federal Deposit Insurance Corporation (FDIC), Federal Financial Institutions Examination Council (FFIEC) and other regulatory bodies continually update standards and requirements for service providers. Keeping track of these regulatory changes can become expensive and time-consuming, and accidental delays or failures in compliance can have serious consequences.
With its continually-updated database of regulatory requirements, VendorMetrics allows even the largest national financial institutions to easily perform compliance checks and SLA performance assessments on thousands of service providers. The result: major cost savings and fewer regulatory issues.
Our Client Work Done Vendor Onbaording, Management, Compliance
Modules and Features
VendorMetrics was developed to be comprehensive in scope, providing automation and assistance in every aspect of vendor management. Here is just some of the functionality our solution has to offer:
- Vendor Due Diligence and Onboarding
- Vendor Portal
- Service Provider Integration
- Vendor Communication
- Vendor Coverage and Pricing
- Auto / Manual Vendor Ranking
- Capacity / Distribution Auto-Assignment Rules
- Dashboards and Reporting
- SLA-Based Performance Measurement
- Payables Module
- Exception Management
- Compliance Rules Validation