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» VISIT US ONLINE @ DSNEWS.COM 65 client and investor guidelines, companies should plan to provide resource materials throughout the lifespan of the relationship. Consider investing in a Resource Management System (RMS) to assist with facilitating and tracking the use of compliance resources. RMS systems automate the compliance process and are excellent for providing analytics, flexibility for the users; mobile delivery of content and some systems offer authoring tools to help with content creation. e RMS system can be utilized from the onboarding phase of a new vendor though the entire lifecycle. Many systems will have the ability to create additional users for vendors' subcontractors who also can access compliance resources and track their usage. Some systems allow the administrator to push out new compliance resources or updates to registered users while providing version controls that guarantee only the most updated content is viewable to users. In addition to using an RMS system, utilizing e-mail communications and push notifications on mobile devices to inform the supply chain of critical updates to field processes and rules of engagement is key to ensuring the success of third-party vendors. Industry best practices or other helpful information can be funneled through the company's social media sites, videos, or newsletters. Conferences and seminars or webinars also provide a channel for communication about guideline changes, field technology improvements, and best practices. In addition, conferences give the vendor network an opportunity to interact and share ideas with each other that will improve their businesses and provide feedback to the service companies. Allowing the boots on the ground to share issues from the field may feel uncomfortable at first but can provide a service company with priceless information that will lead to providing a higher level of service to clients. Technology is a key resource to directing vendors to completing tasks and collecting essential data about a property. Mortgage field services is a fast-paced industry and the right mobile applications can facilitate speedy results from the field directly to clients. According to the Pew Research Center, in 2015 two- thirds of Americans were smartphone users, which means that a majority of vendors are already using their smartphones and mobile applications on a daily basis. ere are a number of different applications that are built specifically for the mortgage field services industry and can be customized to accommodate specific requirements or integration to other systems. ird-party vendors utilizing these applications in the field can turn results such as property condition, necessary bids, and supporting photos back to our clients quickly and efficiently. Vendors will enjoy the benefits of requiring less overhead to complete work orders, speed to invoice, and increased work load capacity. Other benefits for the vendors using these applications also may include management of crews in the field, work order routing, and push notifications. Resource materials and technology unaccompanied with face-to-face communications will likely not be successful. In-field communication is a practical tool that can be used to link client expectations to a real- life application. One effective method to link all the pieces together is for the mortgage field services provider to have a representative walk through the work order instructions of the first order, visit the property alongside the vendor, and then sit with the office staff during the process of reporting the details, providing bids, and the uploading of supporting photos. is helps the new vendor understand how all the pieces fit together and also will allow the field representative to make initial assessment of the capabilities of the new vendor. Building an effective vendor network is a continuous process of evaluating current vendors and determining where gaps exist. Once they are identified is when the real work begins. Much like the popular video game Tetris, pieces of the puzzle are always falling into the industry's "game board". It takes innovation to continue building a network of elite vendors that ultimately provides clients and investors with world class customer service. "Build resources that are flexible and will allow for amendments as the scope of work, rules of engagement, and reporting requirements fluctuate." COVER STORY INDUSTRY INSIGHT INDUSTRY INSIGHT INDUSTRY INSIGHT

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