How To Manage Inventory Exceptions in vExchange (CMvX)

How to Correctly Onboard Claims

Assign the Forwarder EDI Type before onboarding the claim.

  • Assign the Forwarder EDI Type in Collection-Master: Assign the EDI Type for the claim in the Forwarder File [1-2-1-1] Screen 4 – EDI Setup. The EDI Type will either be CMVX or an EDI interface, DTP, or business adapter for a non-vExchange Forwarder.
  • Onboard the Claim to vExchange: Run CMvX to onboard (upload) the claim by creating a 500 series record. The software will start including the claim assigned to your Forwarder.

CMvX allows Receivers to upload all Collection-Master claims to vExchange, even if the Forwarder and the placement are not in vExchange.

  • vExchange Forwarders: vExchange requires that 1001 and 2001 records match between firms and their vExchange Forwarders. vExchange prevents (rejects) the onboarding of claims that do not match your vExchange Forwarder’s keys. More details are covered in the section below on Phantom Claims.
  • Non-vExchange Forwarders: CMvX does not enforce matching keys and thus all claims are accepted.

If your firm has filtered the CMvX data that is sent to vExchange, those claims have not been onboarded. Data will not be delivered to your client, and the claim will be missing from inventory and status reports. Ensure that any previously filtered claims are no longer filtered. More details are covered in the section below on Orphan Claims.

What are Inventory Exceptions?

In vExchange, Forwarders place inventory with 1001 records and Receivers onboard inventory with 2001 records. Four keys make a claim. Inventory exceptions occur when the 4 keys on the inventory are either missing or mismatched between the Forwarder and the Receiver.

Reasons for Inventory Exceptions

Definition: vExchange has a 2001 record with no match on the 4 keys of a 1001 record.

Phantom claims are those placed by vExchange Forwarders and come in two types: missing and mismatched.

Missing: Forwarder has no claim in vExchange
  • What happened? The Receiver could not onboard a claim to vExchange because the Forwarder did not place the claim through vExchange. Alternatively, the Forwarder could have purged the claim or requested a change key to a different Receiver. The claim is in CMvX but not in vExchange.
  • What’s the result? When the firm tries to onboard a claim, each record in the claim will get a record rejected error with the message “Account not in vExchange”.
  • What’s the fix? Ask your client for an inventory report and compare your client’s inventory to your firm’s. The Phantom claim is not in vExchange, so vExchange cannot give you an Exception report of your Phantom claims.
    • You and the Forwarder need to come to an understanding of how it happened.
    • Either the Forwarder needs to place the claim or the Receiver needs to close the claim. If the Forwarder places the claim, the Receiver can resolve the “Account not in vExchange” error by resetting the cache on the claim via [4-2-1-V-9-1].
Mismatched: The Forwarder’s 4 keys on vExchange do not match those of the Receiver.
  • What happened? The Forwarder placed inventory with the Receiver, who uploaded the inventory to vExchange with at least one different key than the Forwarder. For example, the firm used a Forwarder sub-ID that did not not match the claim placed by the Forwarder.
  • What’s the result? If the Forwarder is on vExchange, and your firm attempts to upload or send activity on a claim where the 4 keys do not match the client’s existing inventory, you will receive a rejection.
    • As of March 30, 2023, vExchange prevents the onboarding of new phantom claims and rejects them for vExchange Forwarders. The rejection is an effort to prevent Phantom claims, but they may still exist if you haven’t fixed them.
  • What’s the fix? Update your system to match the existing claim’s 4 keys as placed by your vExchange Forwarder, who will not receive updates until you repair the keys. Follow instructions for the 500 Series Record Rejected Error.

Definition: vExchange has a 1001 record with no match on the 4 keys of a 2001 record.

Orphan claims come in two types: missing and mismatched.

Missing: Receiver has not onboarded the claim in vExchange
  • What happened? The Forwarder placed a claim with the Receiver in vExchange, but the firm didn’t receive it. Alternatively, the Receiver has yet to onboard it to vExchange or has filtered the CMvX data sent to vExchange.
  • What’s the result? The claim has not been acknowledged by the Receiver. The Forwarder is waiting for the Receiver to acknowledge the claim and the Receiver is unaware of the problem.
  • What’s the fix? The firm should ensure that the claim has been onboarded to vExchange and is not filtered to vExchange. To confirm receipt of the claim, go to the Records tab in Analytics to see if the 1001 record exists. The firm should reach out to Client Success to review whether the claim was included in any delivery files. If not, the firm can request a data redelivery file.
Mismatched: The Receiver’s 4 keys on vExchange differ from those of the Forwarder.
  • What happened? The Forwarder placed a claim in vExchange but the Receiver never uploaded a matching claim. Instead, the Receiver may have uploaded a Phantom claim, whose 4 keys did not match the Forwarder’s keys.
  • What’s the result? Essentially there are two different sets of the 4 keys for the same claim: the Forwarder uses set A and the Receiver uses set B.
    • The Receiver thinks the claim went to the Forwarder but instead there is an Orphan claim that doesn’t match the Forwarder and hasn’t been delivered.
    • The Forwarder is waiting for the claim to be acknowledged and the Receiver is unaware of the problem.
    • Note that mismatched claims can result in both Phantom and Orphan claims.
  • What’s the fix? Ask your client for an inventory report and compare your Forwarder’s inventory to your firm’s.
    • Update your firm’s system with the matching 4 keys so that vExchange can report the correct information.
Orphan Account Report
  • The vExchange Analytics team has been working on a report that would help firms identify claims from vExchange Forwarders that are rejected due to mismatched keys. Often, only one key is mismatched as a result of a typo or formatting error by the Receiver.
  • This report will also help firms identify all vExchange Forwarder placements that do not have a Receiver placement and is expected to be available in late Q2 / early Q3.

Definition: vExchange has multiple 2001 records with different sets of the 4 keys for the same claim.

Duplicate claims are created by Receivers primarily for claims placed by non-vExchange Forwarders.

  • What happened? The firm onboarded the claim more than once, each time uploading a different set of the 4 keys. The claim has both set A and set B of the keys, creating two claims that should be the same claim.
  • What’s the result? It depends whether or not the Forwarder is in vExchange.

    • vExchange Forwarders: vExchange has a mechanism to prevent duplicate claims by rejecting claims that do not match the vExchange Forwarder’s 1001 record, which are the valid keys to match.
    • non-vExchange Forwarders: Since there are no 1001 records to check, vExchange cannot tell whether these claims are the same claim with a mismatched key error or separate claims.
      • Duplicate records are treated as new claims rather than updates to existing claims.
      • The claims are fragmented: data from the Forwarder is in one claim and data from the Receiver is in another.
      • The firm cannot see the entire claim and the Analytics website displays multiple versions of the same claim.
  • What’s the fix? Ask your client for an inventory report and compare it to your firm’s. The only way to resolve duplicate claims is to contact Client Success to merge the duplicates into one.

Summary of Inventory Exceptions

Phantom Claims Orphan Claims Duplicate Claims
Definition vExchange has a 2001 record with no match on the 4 keys of a 1001 record. vExchange has a 1001 record with no match on the 4 keys of a 2001 record. vExchange has multiple 2001 records with different sets of the 4 keys for the same claim.
Applies to Firms and their vExchange Forwarders Firms and their vExchange Forwarders Primarily firms and their non-vExchange Forwarders
Problem Missing Claim: Forwarder has no claim in vExchange. Mismatched Claim: The Forwarder's 4 keys on vExchange do not match those of the Receiver.  Missing Claim: Receiver has not onboarded the claim in vExchange. Mismatched Claim: The Receiver’s 4 keys on vExchange do not match those of the Forwarder. Duplicate Claims:Receiver created duplicate claims by using multiple sets of the 4 keys.
What Happened? The Receiver could not onboard a claim to vExchange because the Forwarder did not place the claim through vExchange.  Or the Forwarder purged the claim or requested a change key to a different Receiver. The Forwarder placed inventory with a Receiver, who uploaded the inventory to vExchange with at least one different key than the Forwarder.  The Forwarder placed a claim with the Receiver in vExchange, but the firm didn't receive it.  Or the Receiver has yet to onboard it to vExchange, or has filtered the CMvX data sent to vExchange. The Forwarder placed a claim in vExchange but the Receiver never uploaded a matching claim. The firm onboarded the claim more than once, each time uploading a different set of the 4 keys. The claim has both set A and set B of the keys, creating two claims that should be the same claim.
What's the Result? When the firm tries to onboard a claim, each record in the claim will get a record rejected error with the message "Account not in vExchange". If the Forwarder is on vExchange, and your firm attempts to upload or send activity on a claim where the 4 keys do not match the client's existing inventory, you will receive a rejection. The claim has not been acknowledged by the Receiver. The Forwarder is waiting for the Receiver to acknowledge the claim and the Receiver is unaware of the problem. There are two different sets of the 4 keys for the same claim: the Forwarder uses set A and the Receiver uses set B. The Forwarder is waiting for the claim to be acknowledged and the Receiver is unaware of the problem. Since non-vExchange Forwarders have no 1001 records to check, vExchange cannot tell whether these claims are the same claim with a mismatched key error or separateclaims. Duplicate records are treated as new claims.
What's the Fix Compare your client’s inventory to your firm’s. Either the Forwarder needs to place the claim or the Receiver needs to close the claim.  If the Forwarder places the claim, the Receiver can resolve the "Account not in vExchange" error by resetting the cache on the claim via [4-2-1-V-9-1]. Follow instructions in the Help Center> Self-Help Resources > vExchange > Tips & Troubleshooting > 500 Series Record Rejected Error. The firm should ensure that the claim has been onboarded to vExchange and is not filtered to vExchange. To confirm receipt of the claim, go to the Records tab in Analytics to see if the 1001 record exists. The firm should reach out to Client Success to review whether the claim was included in any delivery files. If not, the firm can request a data redelivery file. Compare your client's inventory to your firm's.  Update your firm's system with the matching 4 keys so that vExchange can report the correct information. Ask your client for an inventory report and compare it to your firm's. The only way to resolve duplicate claims is to contact Client Success to merge the duplicates into one.

The FromVertican Folder

The vExchange team will periodically create a file in the FromVertican folder and notify firms via email. Your firm should always import and process any files that are in this folder. In addition to the standard records provided by Vertican, the ones below are of special note:

  • CMvX Record 196: Request for CMvX to automatically resend 200 records on a claim.
  • CMvX Record 197: Change key request file to fix the keys on behalf of a Forwarder.
  • CMvX Record 198: Resets cache where there is a 200 record with no matching claim.

CMvX Record 198 Reset Cache

Record 198 fixes rejected claims with CMvX 200 series records but no 500 series records.

  • What happened? The CMvX 200 series record updates existing claims. If you did not correctly onboard a claim with a CMvX 500 series record that matched your Forwarder, then vExchange will have no existing claim for you to update.
  • What’s the result? vExchange will reject your CMvX 200 series record and create a CMvX Record 198 so that you can fix the problem. This enforcement is in place for all Forwarders.

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Help Center > Self-Help > Collection-Master > How To > How To Manage Inventory Exceptions in vExchange