BRM’s Post

Third-party relationships expose you to added risks, but a well-structured vendor management process can give you more control and oversight. With ViClarity's user-friendly software platform, you can onboard, evaluate and report on vendors with ease. Say goodbye to messy spreadsheets. 👋 https://lnkd.in/gnwPyhx6 #RegTech #VendorManagement #Banks #CreditUnions #Insurance #AssetManagement

Customer Motivation: #1 - Financial Pressure to reduce costs Mega Vendor Relationship Friction License Audit Settlement Fallout Lack of Tangible Innovation Lack of Support Options - Not using Support Contract Exit Strategies Give Origina a look.

Vendor scorecarding is an essential tool for the auto repossession and collateral recovery industry. Here are four metrics that will make your repossession vendor scorecards more effective. These metrics will take a basic level scorecard to a more developed intermediate level scorecard by tracking voluntary and involuntary repossession results separately. https://buff.ly/4hHdLzx #RepossessionTips #Scorecarding #AssetRecovery

Financial Institutions Should Adopt a Longer View of Critical Vendor Contracts By Ben Mrva, CRO, SRM The pace of technology, regulatory, and economic change can be overwhelming in the financial services landscape. Credit union and bank execs are already facing the challenge of ensuring they are allocating resources and meeting financial goals. Among these challenges, navigating the vendor contract footprint can be extremely arduous, resulting in missed opportunities that adversely impact an institution's bottom line and growth potential. To read more - https://lnkd.in/eU_JkFJ3

It’s important to understand the difference between a vendor contract and a service level agreement. as both of these documents serve a distinct purpose in a vendor relationship. In this blog, we review some of the basics of what they include and why you should know the difference: https://hubs.ly/Q02z3YMs0 #slas #vendorservicelevels #vendorriskmanagement

Are you tired of spending countless hours on vendor reconciliation, only to find discrepancies and errors? Discover the secrets to mastering vendor reconciliation, it’s important, the steps involved, and its benefits. Our expert insights will revolutionize your approach, saving you time and ensuring accuracy every step of the way. Check out the blog now and take your reconciliation process to the next level. Read here: https://hubs.la/Q02s40YL0 #VendorReconciliation #vendormanagement #businessefficiency #strategicfinanace #businessinsights #vendormanagementportal #peakflo

Vendor monitoring, also known as ongoing monitoring, involves overseeing the vendor's performance to determine if the vendor is performing as required by the service levels and contract terms. Strunk's Vendor Manager enables you to continuously monitor and manage your vendor relationships. #strunk #vendormanager

Does your credit union have an effective vendor issue management process in place? You never know when an issue may arise or what the severity of the issue could be. In tomorrow's session, we'll guide you through handling vendor issues. Save your seat: https://hubs.ly/Q02XLrmG0 #vendorrisk #creditunion #issuemanagement

Navigating a financial institution's complete footprint of vendor #contracts – including their back-end technology, card network and other payment partners, and operational providers – is cumbersome and often results in missed opportunities that impact the bottom line. ContractMAP℠ alleviates that concern for banks and credit unions, providing a visualization and impact assessment of existing vendor contracts. ContractMAP℠ is unique because it offers an 8-to-10-year outlook on key contracts and considers how vendor decisions in one operational area can impact others across the organization. Contact SRM (Strategic Resource Management) to help with your vendor sourcing, RFP management, and contract negotiation. https://lnkd.in/gVg9cdD3 https://lnkd.in/emt7TVbb