We’ll review your vendor contracts and invoices and compare them to our VendorVault™ which is the industry’s most comprehensive database of bank and credit union vendor pricing.
We’ll then tell you which vendor contracts are above market price and have the most opportunity for cost reduction. We’ll also tell you how much negotiating leverage you have and create a negotiation timeline that often allows you to renegotiate contracts before the renewal date.
We’ll then include our vendor cost reduction recommendations and timeline in our vendor performance action plan.
- Compares your vendor pricing against the best market prices to identify and prioritize negotiating opportunities
- Includes our recommendations on timing and priorities of renewal negotiations
- Paired with our vendor benefit action plan and vendor risk action plan
- We’ll present to your Board and/or appropriate committee
- Above and beyond. Our vendor contract consultants can also help negotiate your contracts for vendor cost reduction, improved vendor performance and better risk reduction.
So, What Makes Us Different?
MORE EXPERIENCE THAN ANY OTHER CONSULTANT
We have helped more banks and credit unions negotiate more vendor contracts than any other consultant. We are the most experienced and have the most time-tested process.
BEST MARKET PRICING
Our ContractVault™ is the most comprehensive database of vendor pricing on core, EFT, cards, Internet banking and digital, item processing, LOS and telecom/datacom. We will get you better pricing, terms and SLAs than anyone else.
Many competing vendor management software and services are actually resold by your moderate to high risk vendors, so they won’t tell you whether you’re overpaying those vendors. We are the only vendor management software and service provider that can negotiate your vendor contracts for better performance, better pricing and better risk mitigation.