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Press ReleasesFrom the vault of Vendormate
Economic Uncertainty Fuels Vendormate Growth in 2008
January 12, 2009 – Vendormate nearly tripled its customer base in 2008 and now serves more than 500 hospitals in 42 states across the U.S. in part because of economic uncertainty. Vendormate captures, credentials, and monitors suppliers to help mitigate the risk of supply chain interruptions.
“With the global economic slowdown, healthcare and financial service providers in particular are anxious about their supply chain,” said Andy Monin, Vendormate president and CEO. “Service interruptions from a break in the supply chain can be devastating. The economy of the past year has demonstrated that supplier viability can change quickly. Credentials and requirement hurdles easily met at the start of a contract may not be cleared later in the contract life. Vendormate helps these providers monitor the financial health and compliance documentation of their suppliers to base risk assessments on current information, not data from a year ago.”
Financial services, particularly community and regional banks, are also turning to Vendormate for support with vendor information management. Government auditors are asking banks to document due diligence in selecting and managing outsourcing partners, particularly in information technology.
Vendormate also released offerings directly to the vendor community to manage their corporate and representative credentials across healthcare buyers. “Vendors are anxious to meet the requirements of their customers,” said Kristine Hayes, Director of Vendor Services. “Our services for vendors now include complete credential management for a company and all its representatives.”
Highlights for Vendormate in 2008 include:
- Tripling the number of hospital beds under contract to over 100,000
- Adding the ability to check a potential vendor’s financial health, as well as state and federal sanctions clearances, before adding them to the supply chain.
- Recognition by the Technology Association of Georgia for the second time as one of the 40 most innovative companies in Georgia
- Supply & Demand Chain Executive magazine naming Andy Monin a “2008 Pro to Know”
- AeA recognition with a Spirit of Endeavor Award nomination
About Vendormate, Inc.
Vendormate protects the health of supply chains with a unique vendor credentialing and compliance monitoring solution. The program assures compliance with both internal policies and government mandates, including HIPAA and Deficit Reduction Act. Registered vendors are screened and rated by custom criteria and continuously monitored for non-compliance. An integrated badge feature controls access to facilities. Call 1-877-483-6368, or visit www.vendormate.com or vendorcompliance.wordpress.com.