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The Industry Pulse: Updates on Transunion, Vendorly, and More

The Industry Pulse

From new appointments and research to new technology and rule changes, get the latest buzz on the industry in this weekly update.

Analytics company and credit-rating agency TransUnion recently announced the addition of Robert E. Beauchamp to its Board of Directors. Beauchamp is currently the Chairman of BMC Software Inc. and formerly served as the software company's President and CEO from 2001-2016.

“Bob brings a great track record of leadership to TransUnion, with specialized expertise in cybersecurity and information technology innovation,” said Jim Peck, CEO, and President of TransUnion. “As we continue to grow and execute on our strategy, Bob’s proficiency in technology and security will help to keep us well-positioned to succeed for consumers and our customers.”

Throughout his 27 years with BMC Software, Beauchamp held a variety of leadership roles. In addition to information technology and cybersecurity, he brings significant experience to TransUnion in the areas of strategic planning, risk management, global operations, sales, finance, and mergers and acquisitions.

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Vendorly, the vendor oversight platform for financial institutions, recently polled bankers and mortgage professionals on their organizations' vendor management processes, challenges, and technology capabilities. According to the survey, 59 percent of respondents said that they did not have a fully comprehensive vendor management program in place and 33 percent said that their organization's vendor management program needed improvement.

When asked about the biggest challenges their organization faced within vendor management, 36 percent of the respondents identified employee capacity to handle workload or vendor management as their greatest challenge. Among survey respondents, 40 percent said their organization had three or more full-time employees dedicated to their vendor management program with 39 percent stating they have less than three.

Around 44 percent said their organization is responsible for managing at least 100 vendors. "With such vendor volumes to manage, it is no surprise that the second biggest challenge cited by professionals was knowing who their vendors are and tracking them with 27 percent respondents citing this as a challenge. Vendor inventory size and management may also influence reporting frequency. When asked how often their organization monitors and assesses vendor performance, 30 percent of respondents said annually.

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Stacie Rankey has been named VP of Client Relations for Gerner & Kearns Law Firm. The addition was announced by David Gerner, President and Managing Partner.

“I am pleased to announce that Stacie Hawkins Rankey has joined our firm as Vice President of Client Relations,” Gerner said. “Stacie has extensive experience in the default industry and particularly in strategic planning, business development, marketing and client relations. Stacie will be charged with those responsibilities with respect to our Default Services and Collections/Replevin Departments.”

Stacie began her career at DS News and helped the successful launch of the publication as well as its associated Five Star Conference. Stacie held similar roles with American Legal & Financial Network (ALFN), LOGS, and Altisource. Most recently, she served as a VP, Client Relations at Dimont. She is also Co-founder of Women’s Mortgage Banking Collective and a member of the Women in the Housing and Real Estate Ecosystem (NAWRB).

About Author: David Wharton

David Wharton, Managing Editor at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has over 15 years of experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. Wharton and his family currently reside in Arlington, Texas. He can be reached at David.Wharton@theMReport.com.
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