TriNovus Launches Vendor Management System For Financial Institutions

Birmingham, AL - 25 May 2009

TriNovus a company focused on delivering relevant technology solutions to the marketplace, today announced the launch of its latest product, BankerVMS a vendor management solution designed to help banks manage vendors throughout the lifecycle of the relationship. Through proper vendor management, banks can reduce costs, meet compliance guidelines, improve contract terms and increase the value yielded from each vendor.

BankerVMS is a central data repository for bank vendor information and the business processes related to managing those vendors. Using a dashboard interface, BankerVMS provides easy-to-interpret information on each vendor in the categories of contracts, risk, cost, documents outstanding and board information. For example, in the cost category, if a bank wanted to assess its spending with a particular vendor versus that of its peers, BankerVMS provides the ability to compare fee ranges by product type and trends to the national average and to banks of a similar asset size.

“Managing all of the vendors that contribute to the operations of a bank is too challenging of a process to do effectively with hard copies=2 0and file folders, said David Brasfield, CEO of TriNovus. “The amount of information is so voluminous that bankers can’t get a sense of the big picture without some sort of management tool. BankerVMS is that tool,” he said

Brasfield added that as the FDIC increases its focus on banks’ third-party vendors, it is more pertinent than ever that the institutions have a solution in place to manage those relationships.

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