About Valuation Management Service (VMS):
VMS operates as a hub between lenders and valuation providers, allowing the lending community to order and efficiently manage the fulfilment of valuation requests electronically.
It caters for all industry standard valuation types including Full, Restricted Access, Progress Inspection, Modelled Estimate and "Desktop" Valuation requests.
VMS is an easy to use, seamless business to business service using leading edge business rules, smart workflows and internet based technologies to manage all aspects of the Valuation ordering and fulfilment process for the Lender. The Browser based UI access option means that start up costs are negligible and time to implement is within days.
Main Features
The VMS offers a wide range of features including:- Lenders can easily maintain a pool of valuers across the country with individualised pricing and service arrangements
- Over 200 valuation firms nationwide using the system daily
- Valuations are ordered and fulfilled on-line with full transparency of the valuation request lifecycle
- Interfaces to modelled estimate providers
- Externalized Valuation Rules Engine
- Tracking, history and notes functionality with full audit capabilities
- Lender-specific configurability - customisable workflow, screens and business rules
- Ability to order any valuation type from Price Assessment through to Full valuations
- Different levels of security access are supported for extensive permission and function control for different users
- A range of system generated reports are available to both lenders and valuers with data extracts available for use by other systems
- Quick-start access to the system via standard browser access for any PC
- Full system to system interface for integration directly into loans systems - complies with LIXI and industry Webs Services standards
- Fully automated invoicing and reconciliation capability and payment file generation
Key Benefits
Reduces cost
- Automates the ordering and fulfilment process eliminating need for paper-based communication and significantly reducing cost per valuation
- The browser based UI access option means that start up costs are negligible and time to implement is within days
- Saves time and reduces errors through automated invoicing and reconciliation process
- Eliminates errors, duplicate orders and double entry of property valuations in the lending system
Improves Turnaround Time
- Workflow driven to reduce turnaround times and provides instant status updates to allow better frontline service to customers
- Streamlines exceptions handling
- Supports both centralised and decentralised ordering models
Improves Quality and Efficiency
- Provides service level management of Valuation Panel ensuring quality and consistency
- Provides full data validation
- Industry leading Webs Services to lenders and valuers internal systems
Compliance and Audit
- Universal compliance to lenders valuation policy
- Full management and reporting capability for compliance, audit and improved service objectives
- Transparency of activities and statuses to authorised users; full on-line status history