Date published: February 1, 2012
DRI Management Systems Inc., Newport Beach, California, a provider of default process management software, has introduced its new Service Ordering Platform (S. O.P.), the latest innovation included in its DRI Office(TM) platform.
With the DRI Office Service Ordering Platform, servicers can automatically execute their orders for services, seamlessly manage the incoming information from providers and tap a growing list of in-network vendors.
"We built the system to handle as many of the vendor ordering and management tasks as possible," said Fred MeIgaard, DRI's chief operating officer. "The ordering process eliminates errors and non-reimbursable duplications, and the onboard rules engine makes ordering and acting on the results more automated than ever before. Vendor-management tools are built in to maximize those relationships, and the integrated content-management system stores and keeps track of things so nothing gets misplaced."
The system keeps things as paperless as possible and is designed to deal with information flowing back from vendors, regardless of format, said Melgaard. "By having everything integrated, the workflow becomes more efficient and productive, with impressive cost savings for users," he said.
"The efficiencies and cost savings offered by the Service Ordering Platform will be very significant for our company," said Steven Home, chief executive officer of Wingspan Portfolio Advisors, Carrollton, Texas, a special servicer and long-time DRl client. "A primary first-lien servicer might find that with their volume, the savings would pay for most, if not all, of their DRI Office technology costs."
DRI is adding vendors to its network of participating service providers, according to Melgaard. Early integrations with the Service Ordering Platform include Epiq Sys terns' AACER* (bankruptcy creditor solutions), CoreLogic (automated valuations) and CoreLogic Credco (verifications services and credit reports), Equi-Trax (property valuations), NetDirector (connecting servicer's systems to the platforms used by their law firms), SWBC (insurance coverage) and others.