Each member of the Harper McNeil team possesses a deep insight into and understanding of the banking technology marketplace. We know and have contact with countless vendors because we work with them on a daily basis for our many clients. As such, we are ideally suited to manage your vendor relationships and negotiate contracts on your behalf as well.
The nature of your business as a financial institution comes with a great responsibility. Your obligation to select the right vendor and properly oversee that relationship is paramount to your operations and customers. You must realize the maximum benefit with the greatest effectiveness – all while controlling cost and monitoring risk. It’s not something you can do easily on your own, which is why we are here to assist.
If any of your vendor contracts are up for renewal, let us partner with you in this process. Our commitment to thorough due diligence and detailed analysis carries through the entire process. Whether you continue your current vendor relationship or transition to a new one, we will help manage every step along the way.
Here is an outline of our key considerations and related areas of support for client vendor management:
Maturity Dates of Technology Contracts
- Organize and track contract facts.
- Highlight notifications regarding the renewal of the contract.
- Establish a proactive approach to managing renewals.
Vendor Offerings in the Marketplace
- Compare your current software to new or improved versions from your current provider or other providers.
- Review functionality.
- Obtain pricing on new products.
- Talk with other banks using the software.
Optimum Management per Vendor
- Populate your strategic plan with ongoing management facts regarding your technology vendors.
- Keep up with software updates.
- Ensure adequate training is completed by employees.
- Gather information obtained at a user meeting.
Employee Needs and Abilities with Current Software
- Review any current manual operation.
- Discuss how new products can improve your employees’ job functions or customer fulfillment.
- Attend training for new products and refresher courses on existing products.
- Encourage open dialogue among users in other financial institutions.
Ongoing Vendor Dialogue
- Schedule periodic meetings with your technology vendors.
- Discuss new products offered in the future and implementation plans.
- Review integration.
- Solve issues.
We can expand our offerings in any of these areas into a greater, more involved vendor management program for your financial institution, depending on your needs. Likewise, we can design and construct a vendor management program for you to maintain, or we can oversee and manage on your behalf.
Let us know how we can serve you. Contact us today to discuss the possibilities.