VendorCostControl - Comprehensive Administration Tool for Complex Litigation Services
VendorCostControl is a comprehensive administrative tool designed specifically for complex litigation services. It tracks defense costs – both primary and additional insured – and allocates defense costs to parties such as; developers, builders, subcontractors, and insurers. VendorCostControl™ simplifies the unwieldy nature that often characterizes claim and defense litigation financials.
What If' Scenarios
Calculate shares for carriers who will soon be included in a matrix with VendorCostControl™. Utilizing the service, attorneys, adjusters, vendors, and experts can quickly attain hypothetical share calculation.
Record and evaluate data efficiently with the resources VendorCostControl™ provides. Our system uses a uniform task code to categorize expert and defense costs, while comparing them to budgets using data from date of participation to dismissal.
Built with client necessities as its foundation, VendorCostControl™ can advise carriers of their invoice shares. Share allocation begins with participant tender dates and ends based on policy exhaustion, settlement dates, or agreed upon cut-off dates. Shares may be allocated evenly among multiple participants and will be immediately recalculated with the addition or subtraction of additional insureds.
The robust claims tracking and management aspect of our VendorCostControl™ service enables clients to track primary insured and additional insured defense costs. The service identifies and allocates to the necessary developers, vendors, builders, subcontractors, manufacturers, or other insureds. The capture of data in real-time permits the review of all defense costs, carrier allocations, payments, outstanding balances, and cash-on-hand.
Access VendorCostControl™ remotely via our secure, user-friendly portal. This mobile accessibility enables you to connect to support and manage files at any time and any place.
Capturing document activity is critical in the journey to enhancing your efficiency. VendorCostControl™’s versatility grants the ability to manage uploaded, scanned, and shared documents, facilitating the creation of the most intricate policies and easing the overall tracking process.