Vendor Utilization (VendorMap™)

The majority of financial institutions are using less than 50% of the available functionality from their mission-critical systems, yet they are still paying those vendors top dollar.

We roll up our sleeves and find 30-50 material utilization improvement opportunities to drive improvements in efficiency, customer experience, and risk management. And through our Contract Opportunity Assessment, we can determine which of your vendors are charging above current market rates and what amount of leverage you have to renegotiate those vendor contracts.

Key Features:

• Measures your vendor satisfaction and compares it to peer
• Key process benchmarks and KPI measurements with future state targets
• We know what all major core, new account, teller, digital, document imaging, and LOS vendors are capable of – and we know those features that are most often overlooked
• Identifies issues that need to be addressed in contract renewals
• The roadmap is actionable tasks with dates and names assigned for execution accountability