Partnership to support CINC clients in vendor screening, risk assessment
DULUTH, Ga., May 31, 2022 /PRNewswire/ — CINC Systems, the largest software-as-a-service solution dedicated to community association management, has launched an integration with Vendor Information Verification Experts (VIVE), the industry’s leading compliance vendor software.
This integration will enable CINC clients to seamlessly share and update vendor information and insurance records between the systems, streamlining vendor management across the two solutions.
Reducing risk — and time — for management companies
“In an environment of continually increasing insurance costs for communities, the importance of risk management has grown,” said VIVE CEO Joe Bushey. “Managing that risk involves more than just collecting certificates of insurance; it’s ensuring that all information related to that vendor has been properly vetted by risk management professionals and ensuring that information is kept current on an ongoing basis. With today’s tightened labor market, finding internal resources to handle this time-consuming task is harder than ever. That’s where VIVE comes in.”
VIVE handles all aspects of vendor registration and vetting. Integrated with CINC, management companies can know whether a vendor is verified at any given time. In addition to its core vendor compliance services, VIVE offers a suite of vendor management tools, including a fully-automated request-for-proposal platform that costs nothing for vendors or management companies to use.
“It was very important for us to have a seamless integration with CINC Systems,” Bushey said. “It gives us the opportunity to work with some of the fastest growing management companies in the country. What’s more, the company has a near 100% client retention rate; we’re offering a free service to clients who are already using a best- in-class system, making it a win-win situation for all of us.”
Two solutions tailor-made for the industry
Launched in 2017, VIVE is the association industry’s first bespoke vendor compliance solution, boasting an executive staff with more than 80 years of combined experience in the management and support of community associations. VIVE serves more than 90 management companies and has registered more than 25,000 vendors.
“I’m passionate about the work we do at VIVE because I saw in my own management company that we simply didn’t have the resources to do compliance properly,” Bushey said. “My goal since day one has been to make a product that solved the problems I saw first-hand.”
VIVE’s history closely matches the history of CINC Systems, which was founded in 2005 after third generation banker Bill Blanton Recognized the need to provide management companies with a software solution that better served homeowners through technological efficiency. Because of CINC’s dedication to innovation, the company has quickly added over 20,000 to their portfolio, making it the largest SaaS-based solution in the industry.
“Both CINC and VIVE care deeply about the experience homeowners have within their associations,” said Ryan Davis, Chief Executive Officer of CINC Systems. “It’s our dedication that makes our partnership so strong.”
Assessing Risk Seamlessly and Efficiently
“We take security very seriously at CINC,” said Davis. “Risk and compliance management are extremely important measurements of security within community management, which is why we are so excited to work with VIVE.”
In line with its dedication to supporting the homeowner experience, the executive team at CINC Systems works relentlessly to build partnerships and integration strategies with key partners in the community management space. “CINC has developed an extensive set of APIs that enables top-notch vendors like VIVE to easily integrate into our platform,” Davis said. “We are committed to being the one-stop shop where our clients can come to get everything they need to run their business — whether it’s directly from us or from one of our integrated partners.”
Through the integration, clients of CINC Systems will be able to track and flag compliance of vendors, standardize vendor onboarding and satisfaction, view and track all aspects of a vendor’s compliance requirements, and automate vendor document management. “The integration keeps security top of mind for management companies while keeping the process simple and seamless,” Davis said.
About CINC Systems
CINC Systems is the largest provider of SaaS solutions for the community association industry. Founded in 2005, CINC Systems became the industry’s first Internet-based integrated accounting and property management system. CINC Systems is backed by founder Bill Blanton, a third-generation banker, and Spectrum Equity. The company serves more than 20,000 homeowners associations and 2 million homes. learn more at www.cincsystems.com.
VIVE simplifies the vendor risk management task for all vendors working at the communities you manage. VIVE’s team has more than 80 years of expertise in the Community Management, Cloud Application and Risk Management industries.
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SOURCE CINC Systems