Vendor Selection



As our clients enter into new vendor contracts or negotiate existing contracts that are up for renewal, we streamline the contracting process and save our clients significant amounts of time and money in the RFP process. We assist our clients in evaluating the finer points of contracts that are designed to benefit the vendor’s bottom line while we keep the bank’s interest in mind. We help our clients develop a strategy to negotiate better pricing and terms with their vendors. We can assist and support your RFP process from start to finish or we can simply provide market intelligence and guidance around your bank’s internal sourcing process. Typical Vendor Selection engagements include:

• Understand and define your business requirements and technical requirements
• Develop key questions for the RFP that will highlight vendor differences
• Work with bank’s Sourcing Group or issue RFP on client’s behalf to targeted vendors
• Review RFP responses and assist with benchmarking / scoring responses
• Provide feedback around pricing and terms based upon our own market intelligence
• Assist with vendor site visits and due diligence prior to final selection
• Review and evaluate final contract prior to execution