Overview
AMC/Firm Vendor Selection Settings enable the Intelligent Selection System (ISS) to qualify and assign vendors automatically. Configuring these settings streamlines your workflow, set priority rank, enforces compliance, and ensures every appraisal is handled by the most qualified professional. This automation reduces manual oversight, mitigates risk via integrated compliance checks, and accelerates turnaround times for valuation assignments.
How to Configure AMC/Firm Selection & Ordering Options
Navigate to the top navigation bar and select Preferences.
Select Vendor Selection Settings.
From the AMC/Firms tab, select your AMC/Firm selection.
Automatic Vendor Selection — During order assignment, your configured Intelligent Selection Settings (ISS) automatically select the most qualified vendor for each assignment.
Unattended order assignment — When enabled, orders placed through the VMP Client Portal are automatically assigned to a vendor, eliminating all manual involvement from the assignment process.
Note: Custom fee panel will always be used for orders assigned to AMCs.
In Ordering options, when an order is assigned to an AMC or Firm, they must accept it. By default, vendors are configured to automatically accept orders upon joining your fee panel. You may elect to pay all Mercury Network® transaction fees on behalf of your vendor. Check Pay all transaction fees to enable this option.
Tip: Click Save in the top-left corner to save your selections before navigating to other Vendor Selection Settings.
How to Configure Intelligent Selection System (ISS)
The Intelligent Selection System (ISS) helps Mercury Network® select qualified vendors for your orders based on criteria you define, such as proximity, experience, and availability. You can prioritize certain criteria by moving them higher in the ISS weighting list.
Require years in business - Check this option to require a minimum number of years in business for considered AMC/Firms, and be sure to enter your preferred minimum.
Require Vendor Rating - Mark this option to define a minimum acceptable star rating for an AMC/Firm to be eligible for orders when new orders are placed. Check the Consider new vendors box to allow vendors new to the system to receive orders from you.
Require Errors and Omissions - Mark this option to limit the list of suggested AMC/Firms to those with an E&O policy listed in their profiles and enter the minimum amount of E&O insurance you require in the provided box.
Limit vendor capacity - Mark this option to limit the number of orders which can be assigned to a vendor concurrently.
Enforce vendor priority - Mark this option to restrict order assignment to vendors who have a priority rank. Mark Consider unranked vendors to open up assignment to unranked vendors if a ranked vendor isn't available.
Exclude past due vendors - Mark this option to avoid assigning orders to vendors who have a past due order with you.
Reviewed Documents - When enabled, you can prefer or require approved documents from your vendors when assigning orders. New documents are given a 30-day grace period for you and your vendor to correct any issues before the vendor is removed from consideration during assignments; this 30-day period includes documents which were marked for review and updated by the vendor. This option will only appear if you've enabled document review in your Fee Panel Options.
How to Set an AMC/Firms Priority Rank & Configure Weighting Factors
To prioritize Mercury's vendor suggestions by other factors, check the box beside any of the Selection Weighting factors you want Mercury to consider when suggesting vendors.
Click and drag the row for that item up or down the list to prioritize it. Dragging it up the list increases its priority rank in Mercury's suggestions. Dragging it down the list decreases its priority rank.
Weighting Factors
Turn time | Number of days between the time an order was accepted by a vendor and when it was delivered. |
On Time percentage | The percentage of orders that are completed on-time out of the total number of orders that vendor has received. Higher percentages are returned higher in the list. |
Quality rating | A compiled rating that is applied based on your experience with the quality of the reports delivered by the vendor. |
Professionalism rating | A compiled rating that is applied based on your experience with the professionalism of the vendor. |
Rework percentage | The number of assignments where the vendor has to make changes to the report after delivery. |
Revision turn time | Number of hours between the time a revision was requested and it was redelivered by the vendor. |
Outcome
You can now configure AMC/Firm Vendor selection settings to manage how the Intelligent Selection System (ISS) qualifies and assigns vendors to your orders. By configuring these settings, it will automate your workflow, enforce compliance standards, and ensure that every appraisal is handled by the most qualified professional.