Finnytech Service Details

Sound Vendor partners can significantly contribute to the success of your organization. Core system, online banking, account opening are likely systems and services to be provided by an outsourced party. Active management and engagement with your Vendor partners that continues beyond the initial request for proposal can maximize your investments in these relationships. Ongoing monitoring of vendor performance, contract renewals, and vendor roadmap reviews are great opportunities to reconnect and stay aligned with the organization's direction.

Processes Some of the potential processes to be considered and created within the scope of the engagement.

Establish Vendor Relationship
Manage Vendor SLAs
Renew Vendor Relationship
Establish Vendor Management Team
Address Vendor Deficiencies
Manage Vendor Criticality
Maintain Vendor Communication
...

Metrics Some of the potential metrics to be considered and captured within the scope of the engagement.

♦ Vendor Criticality Level
♦ Vendor Uptime
♦ Vendor Expenditure

♦ Vender Satisfaction Rating
♦ Vendor Utilization Score
♦ and more...

Scope The various levels of time and complexity to be considered as part of the engagement.

Small: 2+ days. Review and assessment of existing vendor management program. Analysis of vendor management approach, vendor SLA monitoring, and vendor communication. Interviews of key vendor relationship managers.

Medium: 2+ weeks. Assessment plus deep dive into existing vendor management landscape. Review of available vendor governance, vendor assessments, and vendor relationship management. Identification of opportunities for improvement and action plans to improve and innovate vendor management program.

Large: 1+ months. Deep dive plus Vendor Management overhaul. Active management of participating staff. Updates to existing and deployment of additional Vendor Management systems and processes.

Deliverables Some of the potential tangible outcomes to be considered and produced within the scope of the engagement.

✓ Initial Assessment
✓ Proposed Processes
✓ Baseline Metrics
✓ Opportunities for Improvement
✓ Suggested Action Plan

Vendor Management: A two-way partnership.

Are you actively engaged with your vendors? Let us help you get the most out of your vendor relationships.

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