Vendor management lands new venue

October 23, 2002

First American aligns with Ocwen Technology Xchange to develop new vendor platform

Inman News Features

First American Vendor Management Services and Ocwen Technology Xchange have formed a technology alliance to develop a new vendor management platform that will integrate features of each company's proprietary system.

The new vendor management and fulfillment platform will incorporate unique features of both companies' systems by integrating OTX's vendor-rich, workflow-enabled scalable platform with VMS' custom client integration solutions, real-time transaction exception handling and premier vendor procurement services.

The resulting product will offer clients a customizable technology platform that allows users to enter specific criteria to select from more than 4,000 vendors. VMS will also support customers with its complete suite of outsourced transaction management services and revenue sharing opportunities.

OTX said it will continue to offer its stand-alone service for those customers who prefer that option.

First American VMS and Ocwen Technology Xchange plan to introduce the new vendor management technology platform during the first quarter of next year.

First American Vendor Management Services, Inc., a wholly owned subsidiary of The First American Corp. (NYSE: FAF), offers real estate transaction fulfillment products and full service vendor management.

Ocwen Technology Xchange Inc. provides customer-focused business services for the real estate finance industry globally.

Copyright: Inman News Service

Contact ALTA at 202-296-3671 or [email protected].