Vendor Benefit Action Plan

An ongoing action plan to improve your vendor performance, reduce vendor spend and mitigate vendor risks with monthly check-in calls

 

 

We survey your employees on the critical systems they use and measure satisfaction across five unique categories. We then evaluate your satisfaction, compare it to peer and use our unique vendor knowledge to identify improvement opportunities.  We then create vendor performance scorecards to summarize our findings and recommendations.

We also conduct a vendor spend and contract opportunity assessment to identify vendor contracts with the most cost savings potential. We then make recommendations to reduce your vendor spend when contracts come up for renewal.

The vendor performance action plan turns all of our performance improvement and cost reduction recommendations into a simple action plan with dates and responsibilities to measure progress towards your vendor performance improvement, cost reduction and risk mitigation goals.

Each month, we’ll have a scheduled call to review your vendor risk action plan to make sure we’re progressing on your goals.

Key Features:

  • Comprehensive user satisfaction surveys and peer comparisons
  • Vendor performance scorecards to summarize user satisfaction ratings, performance benchmarks and performance improvement recommendations
  • Vendor cost saving improvement opportunity recommendations
  • Action plan with tasks, responsibilities and due dates to continually improve your vendor performance– updated monthly
  • Cornerstone can present to your Board to show how well you’re progressing on your plan
  • Monthly check in calls to measure progress and update plan

Learn More About Our Vendor Benefit Action Plan

Schedule a time to talk with one of our Vendor Management Consultants
or, if you’re ready, request a custom pricing proposal

Talk to a Vendor Management ExpertRequest a Demo


So, What Makes Us Different?

DO IT FOR ME

We’ll survey your employees, rate their satisfaction, identify their issues and develop recommendations for improving your vendors’ performance.

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 marketshare , evaluate their products and know about problems before they’re public.

BEST VENDOR INTEL

Our VendorVault™ includes hundreds of financial institution’s digital vendor satisfaction ratings across every major digital vendor. Our database also includes the most commonly under-utilized features, integration challenges and customer complaints of every major digital vendor.

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