IRVINE, Calif., and THOUSAND OAKS, Calif (PRWEB) August 18, 2014
3PAS and Paladin today announced a joint venture agreement to create a new supply chain credentialing service specifically targeting service providers and tenants associated with some of the world’s largest companies. The new venture will be known as 3PAS Credentialing Service, a division of 3PAS.
"The team at Paladin is extremely excited at the prospect of working with a company with the vision and abilities of 3PAS. With this joint venture we believe that our service to the business community and our own clients will only increase", said Sandy Greenstein, President, Paladin Risk Management.
Managing third party relationships without specialized software and staff expertise is difficult and can be costly. Tight operating margins, regulatory changes, the need to manage multiple risk level concerns while adhering to corporate procurement requirements, and guarding against conducting business with undesirables are all factors that make achieving and maintaining contract compliance costly for companies. It is estimated that a company's internal expenses can be as high as $250 per third party contract to manage credentials internally.(1) 3PAS Credentialing Service manages all aspects of the credentialing process while eliminating these internal costs for its customers.
“By combining our respective credentialing services and expertise to create our new venture, we are providing our customers and the third parties that engage with them, a world-class and cost effective solution for addressing their contractual requirements. We are pleased to join forces with Paladin, a company respected for the scope and quality of its validation services. Paladin is an industry leader and has been providing exemplary service to their customers for the past seven years and are a welcome addition to our venture", said Paresh Amin, 3PAS CEO.
About Paladin Risk Management
Founded in 2007, Paladin Risk Management, Ltd. has been assisting insurance carriers, brokers and insureds administer Owner & Contractor Controlled (OCIP & CCIP) projects and reduce potential losses and costly litigation by enhanced management of pre- and post-loss activities. The Paladin team of experts has over one hundred years combined experience. Paladin is privately held and based in Thousand Oaks, CA.
3PAS was founded on the principle that risk assessments should be universally accessible and shareable between companies doing business together as part of the global economy. As more and more businesses increase their reliance on external entities to help them meet their strategic objectives, it is more important than ever to identify risks that are a byproduct of these relationships and outside their control. 3PAS is privately held and based in Irvine, CA with offices in Dallas, TX.
(1) Notivus, “Vendor Compliance Outsourcing" July 16, 2013.
Contact 3PAS: info(at)threepas(dot)com