Confronting Barriers to Efficient Vendor Management

Managing vendors, both legal and non-legal, is a complex process, often requiring access to disparate systems to obtain current and relevant vendor information. Relying on multiple systems is complicated, and causes difficulty in tracking and maintaining vendor information and compliance records. This lack of visibility and clarity can make it hard to effectively control costs. Unreliable data and metrics that support your vendor selection process can compound the problem, impacting performance, quality and compliance status. That’s why forward-looking claims organizations rely on a single, centralized SaaS solution to optimize vendor management – eliminating the complex and unreliable process of searching across many different platforms

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The problem:

Claims organizations of all sizes need to have efficient processes in place to effectively manage their claims vendor network. However, many organizations lack a centralized location to access relevant and required vendor information across their claims vendors. In addition, it’s common to struggle with tracking and maintaining up-to-date vendor information, which may result in working with vendors who are out of compliance with your internal policies. Finally, claims organizations often lack ready access to meaningful data and insights to improve their current vendor relationships—and lack visibility into out-of-network vendors, which can hamper the ability to expand into new regions. The end result? Increased costs and risk and decreased opportunities.

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The solution:

Bottomline’s PartnerSelect Manage, a vendor management solution, provides claims organizations with a single, centralized SaaS offering that helps track and proactively manage all vendor relationships.

PartnerSelect Manage helps ensure vendor compliance while also providing visibility and actionable insights into both in-network and out-of-network vendors. With PartnerSelect Manage, you can increase efficiencies while confidently controlling costs and risk. And because PartnerSelect Manage was designed to build on the effectiveness of Bottomline’s Legal Spend Management suite, it is quickly and easily activated.

How PartnerSelect can help

Gain a holistic view of vendors both in and out of network.

Key benefits and outcomes

Bottomline’s PartnerSelect Manage is a robust and dependable vendor management solution designed for insurance carriers and other claims organizations.

With PartnerSelect, you’ll be able to:

Rely on a single, centralized solution for robust management of vendors and associated relationship information

Access key vendor information to grow and strengthen the quality of your claims vendor network

Ensure vendor compliance by storing, sharing and tracking vendor documentation and receiving alerts on upcoming expirations

Utilize a consolidated, auditable collaboration channel to capture internal communications and interact with both existing and prospective vendors

Improve management of not only law firms but also non-legal claims vendors

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Powerful features in a single solution

Bottomline’s PartnerSelect Manage builds on the strength of PartnerSelect Connect by expanding network visibility and communications to include key management capabilities.

These valuable features include:

Ensuring vendor compliance: Reduce risk by ensuring proper vendor documentation is provided and maintained through alerts and reminders

Communicating with vendors: Effectively communicate with vendors through a single, consolidated communication channel and traceable correspondences and alerts

Panel administration and performance management: Collect, administer and evaluate vendor relationship attributes, including rates and metrics to optimize your vendor panel

Researching out of network vendors for panel expansion: Collect and evaluate prospective vendor data for the purpose of expanding your vendor network to address claim capacity and case assignments outside of typical claim categories and regions

Vendor Profiles and Administration

PartnerSelect Manage helps monitor vendor compliance and reduce risk by ensuring proper vendor documentation is provided and maintained through alerts and reminders.

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You may also use it as a single repository for panel administration and performance management.

Collect, administer, and evaluate vendor relationship attributes and metrics to optimize your vendor panel. This enhances your ability to improve on the vendor relationship or potentially remove underperforming vendors.


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