SOURCE: CaseRev, Inc.

September 17, 2007 12:00 ET

CaseRev Announces First Vendor Relationship Management Platform for Claims and Legal Industry

Free Platform Improves Vendor Relationships, Streamlines Business Operations and Delivers Real-Time Information

SAN DIEGO, CA--(Marketwire - September 17, 2007) - CaseRev, Inc. today announced the release of VenCore™, a unique Web-based vendor relationship management (VRM) system for claims professionals, attorneys and the claims and legal vendors they retain.

Purchasers of vendor services are mired in problems related to the assignment process and are unable to rise above individual transactions to achieve true vendor relationship management; and as a result, they suffer from a dramatic lack of information and metrics about the vendors they use. VenCore™ allows companies to embrace a new level of vendor relationship management in an ever-evolving and complicated marketplace.

The VenCore™ system integrates seamlessly with existing claims, invoicing, imaging and workflow systems and includes a vendor directory, a transactional platform to facilitate new referrals, and communication tools to easily and quickly share documents and files. Companies can upload and enforce assignments to their own preferred lists of vendors or select from any vendor in the CaseRev Community in over 500 distinct service categories. Vendors can attach current license and insurance information to their profiles, facilitating panel and vendor administration. Users can track the status of each assignment and access files, documents and messages.

"We were shocked to discover that most companies are unable to track vendor relationships, spend by category or even compliance with their own preferred vendor panels, especially in light of the fact that in the property and casualty industry alone there are over 100 million vendor assignments annually," said Steve Pratt, founder and CEO of CaseRev, Inc. "Without efficient metrics, it is impossible for companies to appropriately manage their supply chain and leverage volume into a corporate asset and competitive advantage."

Many companies have just begun to create vendor management initiatives to address the industry's increasing compliance and governance standards. VenCore™ is a first step in developing a comprehensive vendor management program that responds to these needs. In addition to generating the requisite metrics, the VenCore™ Community Rating System highlights industry peer experience with specific vendors.

"We developed VenCore™ to benefit the vendor community, as well as the claims and legal industries," noted Taylor Smith, vice president of business development at CaseRev, Inc. "Not only is it increasingly difficult for a vendor to distinguish their services in a noisy marketplace, but as margins become tighter, most vendors lack tools to make their internal and client interactions more efficient. We developed VenCore™ specifically to address this problem. The system provides vendors with both a national marketing platform and tools to increase customer satisfaction," Smith continued.

VenCore™ eliminates the inconsistent and inefficient ways in which vendors are currently selected and assigned and there are no barriers to user adoption because the system is simple to use. In addition, VenCore™ increases productivity and reduces costs by replacing the myriad of emails, faxes, and phone calls required to manage and track assignments in the current environment. It benefits both purchasers and vendors alike to develop best practices by moving to a more efficient process with metrics and real-time information.

Pricing and Availability

VenCore™ is available today without cost to insurance carriers, law firms, legal departments and others seeking the claims and legal services offered by community members. Vendors maintain a national marketing presence in the VenCore™ Community without charge. Vendors pay an assignment fee of between $10 and $20 when they accept new business through the VenCore™ platform.

About CaseRev, Inc.

CaseRev is committed to fostering an online community of virtual teams bridging claims professionals, attorneys and vendors who to-date have been limited by disconnected systems. Participants benefit from cohesive partnerships, proactive communication and access to real-time information that allows parties to achieve both their individual and shared objectives. Participation in the CaseRev Community generates insights into the performance of customers, their networks and the entire community. CaseRev, Inc. is headquartered in San Diego, CA with sales and support facilities in Chicago, IL and Dallas, TX. For additional information, please visit www.caserev.com, email info@caserev.com, or call (800) 791-1120.

VenCore™ is a trademark of CaseRev, Inc.

Contact Information

  • Contact:
    Danielle Carter
    CaseRev, Inc.
    800-791-1120 ext 240
    Email Contact

    Sue Barnes
    Zeno Group for CaseRev, Inc.
    415-200-8457
    Email Contact