InformData Achieves 100% Direct-Source Data for Consumer Reporting Agencies (CRAs)
Nationwide milestone enables CRAs to increase outsourcing, profits and scale
InformData’s Direct-Source Data service announces its nationwide milestone for CRA’s nationwide, increasing accuracy and decreasing turn-around times. Direct-Source Data is unique among information used for pre-employment background checks, criminal background checks, employment verifications and credentialing verifications in that it is provided through technology that enables direct research or automation with primary sources. Achieving 100% Direct-Source Data is a milestone in the company’s vision of making Direct-Source Data for people-information equitably accessible to all.
“The Direct-Source Data technology that InformData pioneered is revolutionizing the marketplace for CRAs”, remarked Scott Vanek, CEO of InformData.
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“One of our recent successes with Direct-Source Data is in Cook County Illinois where we successfully lobbied the local government to increase direct access to court information. These efforts have lowered turnaround time from 178 hours to 23 hours for all records and 610 hours to 25 hours for hits. That’s over a 700% improvement for every CRA using Direct-Source data.”
Direct-Source data enables many of InformData’s unique value propositions for CRAs including treating data as a supply chain that can be audited and CRA-friendly business models that offer data at a flat rate rather than priced per county or whether or not data acquisition is manual or automated.
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Leveraging these benefits of Direct-Source Data, an emerging trend among CRAs, is outsourcing. Beyond the CRA’s markets, companies like Apple have realized that outsourcing enhances value to customers. By outsourcing manufacturing, Apple focuses its resources to consistently deliver insanely-great tablets, watches, phones, perhaps even automobiles that challenge the status quo. The company has achieved the greatest value of any company in history as a result. By simplifying the process of providing data and its associated cost, Direct-Source Data offers CRAs the same advantages achieved when they focus on their highest value proposition to end-users rather than managing research, data acquisition and data hygiene from multiple sources.
