TriNovus Announces Expansion of Vendor Management Product to Broader Market

PRESS RELEASE
Contact: David Brasfield, TriNovus
(205) 991-5636 david.brasfield@trinovus.com



TriNovus Announces Expansion of Vendor Management Product to Broader Market

Capitalizing of the success of its BankerVMS vendor management solution in the financial sector, TriNovus launches VendorVault for businesses and municipalities.


Birmingham, Ala., February 4, 2010 – TriNovus (www.trinovus.com), a company focused on delivering relevant technology solutions to the marketplace, announced today the launch of VendorVault (www.myvendorvault.com), a vendor management system targeted to businesses, municipalities, and hospitals to assist with the management of long term vendor contracts. VendorVault is a spinoff of TriNovus’ BankerVMS application that financial institutions use to manage their vendors.

“We had inquiries from numerous non-banking organizations about our vendor management solution,” said David Brasfield, president and CEO of TriNovus. “After conducting research we found that that a vendor management solution of this kind was lacking in other industries and worked to create VendorVault to meet the needs of organizations outside the financial industry.”

VendorVault is a central data repository for vendor information and the business processes associated with them. It assists in managing vendors throughout the lifecycle of the relationship and can reduce costs, improve contract terms, and save time and effort. Key features of VendorVault include web-based tracking of contracts and documents viewable from any computer; the ability for management teams or government personnel to easily collaborate on documents and create reports on vendors; vendor cost analysis management and the ability to compare costs to what other organizations are paying; and email ticklers on contract renewal status. Additionally, VendorVault enables a business to keep an offsite backup of critical vendor contacts and contracts.

Vendor contracts and other pertinent information are centralized, organized and analyzed by the VendorVault system. Municipalities and business in industries that have numerous vendor relationships and long term contracts will realize the most results from utilizing VendorVault.

About TriNovus
TriNovus, a Birmingham, Ala.-based company, was founded with the goal of delivering relevant technology solutions to the marketplace. In addition to VendorVault, its products targeted to the financial industry include: BankRisk – a comprehensive stress test and risk management solution; BankerMLS (www.bankermls.com) - a web-based application that enables financial institutions to obtain maximum exposure and value for repossessed assets; BankerVMS (www.bankervms.com) - a vendor relationship management system.

For more information on VendorVault visit www.myvendorvault.com. For more information on TriNovus, visit www.trinovus.com or contact David Brasfield at 205.991.5636 or david.brasfield@trinovus.com.

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