Vital Solutions, Inc. Launches New Vendor Risk Solution for Regulatory Compliance

Vital Solutions, Inc., headquartered in Peachtree Corners, Georgia, announces the launch of a new Vendor Risk Management solution. Vital believes the new compliance requirements present a series of complex challenges that could negatively impact businesses in a multitude of industries. Vital has applied its strong compliance focus; experience and expertise to create a market driven solution, providing software and strategy that solve the issue of vendor risk management.

Vital wants to provide the auto finance, banking, credit union, healthcare, mortgage and student loan markets a solution that is not only easy and logical to use and navigate, but one that emphasizes Vital’s goal: SUCCESS THE RIGHT WAY.

“As an ARM company with over 155 years of industry experience among our top executives, we have been consistently focused on compliance. We have developed an exceptionally strong compliance footprint and pride ourselves on maintaining a straightforward, hands-on, honest and ethical approach. This new service offering reflects our best practices and entrepreneurial spirit,” stated Chris Shuler, President & CEO of Vital.

Vital Vendor Risk Management combines cloud based technology with best-in-class compliance strategies to provide a robust and efficient solution to satisfy third party oversight requirements. On behalf of our customers, Vital’s team will apply customized modules and additional vendor research for all categories of vendors, including comprehensive vendor profiles, due diligence and risk reviews, performance reviews and incident tracking. Document storage and automated reminders for expiring documents are also key features.

“With a few simple mouse clicks, you will be able to show regulators that you know your vendor network and that you are in compliance with regulatory requirements,” said Eric Pittman, CFO of Vital.

The software was developed by Skeey Interactive, LLC of Burlington, MA, a leading provider of designed & developed websites and web applications for some of the best known companies and brands in the world. Vital’s Vendor Risk Management solution includes Skeey’s VendorRisk web-based software application that helps companies organize their vendor-related information and strategy developed by Vital based on years of regulatory compliance experience.

Vital Solutions, Inc. focuses primarily on account receivables management in the auto finance, credit card, mortgage, student loan and utility industries. It operates two subsidiaries: Vital Recovery Services, Inc., which handles third- party collections, and Vital Outsourcing Services, Inc., which performs first-party collections, specialty outsourcing and vendor risk management services. Vital also offers its clients lettering and statement services via a licensing agreement with a multi- purpose, fully integrated billing company.