Vendor Impact is our cloud-based bank and credit union vendor management software solution that monitors vendors, records risk assessments, tracks employee tasks, reminds you of key contract dates, and stores due diligence documents.
It allows both you and your Cornerstone vendor management team to efficiently administer your vendor management program.
Our solution is the next generation of software as a service…We call it Do It For Me (DIFM) . DIFM is more than software. DIFM combines technology automation with specialists to deliver a complete solution to a business problem. It’s as much about people-powered customer service as it is about code-powered efficiency. DIFM is sweeping the tech world, and we’ve applied it to vendor management.
So you’ll have the software*, but we’ll set it up for you, clean up your vendor data, do the vendor risk assessment for you, gather your due diligence documents, create the risk scorecards and present the results to your team, committee or Board. Software AND service. What a concept.
* If you already have vendor management software or don’t want to deal with software at all, no problem. We’ve got a solution for that too.
- Pre-populated, drop down vendor and product information with ability to add your unique contact information
- Pre-populated vendor risk assessments with ability to customize and override
- Assign oversight requirements such as annual financial and SSAE 16 reviews with due dates
- Task manager for tracking important due dates
- Contract manager for tracking important contract dates
- Email reminder and alerts
- Cloud storage of all vendor due diligence documents and Cornerstone vendor risk reviews, reports and vendor risk scorecards
- Unlimited Users
- Executive level dashboards and reports
- Connect our vendor performance reviews to see how your line of businesses rate your vendors and products, how that compares with your peers and how to improve vendor performance
- Above and Beyond. We set up and load your critical vendors, contracts and contract reminders.
So, What Makes Us Different?
DO IT FOR ME
Optional software plus services = huge time savings and successful exams. Let us set up the software for you, load your vendors, do your risk assessments, gather and review your due diligence documents, and create your Board and examiner presentations so you can focus your time on making the best business decisions from our recommendations.
PENETRATING VENDOR INSIGHTS
We are in the vendor evaluation business, so we are evaluating all aspects of the major vendors every day. Not only do we review vendor financials and attend vendor earnings calls, but we meet with vendor executives every Friday to get product, company and security updates. We track vendor wins and losses, monitor changes in market share, evaluate their products and know about problems before they’re public.
Many competing vendor management software and services are actually resold by your moderate to high risk vendors. This means they will only share publicly available information. We on the other hand are Gonzo and share non-public vendor dirt every day, all day.