By Todd Murphy | August 26th, 2011
The morning of August 26th, Twitter erupted over rumors that the oldest tv and radio monitoring service was filing Chapter 7 bankruptcy. If these rumors are correct [they were], Video Monitoring Services closed their doors today at noon eastern [8/26/11].
What does this mean for their clients. Unfortunately, they will need to find a new vendor they can initially trust…then build a new relationship over time. Universal Information Services has been fielding calls and tweets from former VMS clients that need uninterrupted news tracking for themselves or their clients.
Our sister company, Utah News Clips, is also spreading out to assist VMS clients who know the show must go on.
It is a terribly sad day for us and our friends at VMS. I’ve worked personally with their CEOs, production, and sales team. Many of these people are my close friends. I hope the best for my friends at VMS and pledge my companies to continue the level of service they established for the news monitoring industry.
Please contact us if you need help in finding a new, best-fit solution for news monitoring. (800) 408-3178
The twittersphere is ripe with allegations that the software-as-a-service (SaaS) competitors killed VMS. As an innovator in this industry I think that notion is dangerous. There was no mass exodus of clients from VMS, it sounds like they simply loss direction from a management perspective. I am not on the inside, by the title of this blog is #SameRules #NewTools. This philosophy applies here in that VMS set the benchmark for quality client relations. All in the industry, including Critical Mention, Cision, and Universal bench-marked ourselves against VMS. The customer experience is still the number one issue to a client. We all have real-time reports, preview video, and edit on demand. I think the real difference now is between those who still offer true customer support, and those who don’t. I believe the clients of VMS chose VMS because they wanted a team to call, someone to make things happen, and help when they didn’t have time or didn’t understand the interface. These things are all good and still available through companies like mine. The SaaS model exists for those who want to serve themselves, or think they won’t need help.
As you review new vendors, think what your needs truly are. Have they changed just because VMS has closed their doors? Probably not.