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WebRecon’s Vendor Monitoring Updates

By Cornerstone SupportApril 20, 2016
 

Over the last few years, WebRecon has developed its Vendor Monitoring service into a totally unique, “must-have” component of any vendor compliance program. Now, it provides even more information to help companies objectively evaluate the potential vicarious liability exposure of their collection partners.

Jack Gordon, a longtime industry friend of Cornerstone Support, described the genesis and growth of this dynamic solution, and the newest addition to help assess comparative risk:

It started a few years ago when we pivoted from the Plaintiff field in our litigation database and began monitoring the Defendant field to alert our clients when the industry vendors they use were getting sued by consumers.

It made sense to quickly add the CFPB complaint database to that process, and so we did. And for many clients, that was a useful tool.

Last fall, however, we decided it was time to look at the service again to see how we could improve it, and that process led to the addition of nearly 100,000 Better Business Bureau complaints to the database, as well as a forward flow of new BBB complaints coming in regularly.

Today, I am excited to announce that we have opened a new stream of vitally important consumer complaint data to the Vendor Monitoring service: State Attorney General Office complaints.

As you might imagine, this is not a simple project. In fact, it is literally 50 separate projects, and we are still at the beginning. In the last couple of weeks, we have added complaint data from the first few states (Oregon, Ohio and North Dakota), representing over 42,000 new consumer complaints that have been added to our system.

We already have over 80,000 more complaints waiting to be imported from Maryland, New Mexico, North Carolina and North Dakota, and we are actively working on the rest of the states.

It will undoubtedly take some time to get every state in there. In the meantime, I invite you to take advantage of the data we have already acquired on your behalf.

Every time your vendor watchlist is scheduled to run, it should pick up the new complaint data and send it to you automatically. If you don’t want to wait for that, you can log in to the grid, check all of the boxes and click “Reset Term” at the bottom. This will resend you all complaints, including the new state AG ones, for each of the companies in your watchlist.

Visit WebRecon for more information: https://webrecon.com/

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