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


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SoftPro, based in Raleigh, NC, offers a mature suite of products, designed specifically for the closing and title industry. Our mission is to serve our client base, with best-in-class products and services. Our products are modular so we don't force you to buy anything you don't need. You can always add on as your business grows. Unlike other software companies, we view the sale as the beginning of the relationship rather than the end. North American Title Insurance Company (NATIC) is a seasoned title insurance underwriter, helping title agents to achieve their individual business goals for more than 50 years. Today, the company conducts real estate settlement services in 39 states and the District of Columbia through a network of experienced, independent agents.