VENDOR LINKTM is a business intelligence solution and contract cost reduction program that focuses on non-interest expense with the specific objective of reducing vendor contract costs, while maintaining or enhancing the quality of the service with your vendors. Vendor contracts are often sources of significant hidden cost reduction opportunities. Our program is customized for your organization and includes a detailed appraisal for each of your contracts to compare your costs with target cost standards based on our large database and experience in working with vendors across the industry.
VENDOR LINK also includes a specific methodology for negotiation with your vendors. The contract renewals will be negotiated on your behalf based on the results of the appraisal and will include a carefully crafted and detailed proposal offer to your vendor. These negotiations are subject to your management oversight and approval.
Based on our experience, VENDOR LINK engagements provide $250 to $500 in cost savings per million dollars of assets. Find out your potential cost savings from implementing Ceto and Associates’ VENDOR LINK.
VENDOR LINK Highlights:
- Business Intelligence
- Market & Industry Research
- Vendor Product & Pricing Information
- Benchmark Metrics
- Contract & Cost Analysis
- Contract Cost Reduction
- 5 Principal Vendor Contracts
- Custom Contract Appraisals
- Cost Analysis & Risk Identification
- Contract Negotiation
- Contract & Vendor Management
VENDOR LINK Objectives:
- Provide Business Intelligence & Decision-Making Tools
- Negotiate Best Prices and Terms for Vendor Contracts
- Reduce Non-Interest Expense
- Improve Vendor Performance
- Mitigate Risks Associated with Vendor Relationships
- Develop an Action Plan for Contract Management
We would be pleased to arrange a full presentation of our VENDOR LINK solution at a time convenient to you. At that time, we will provide you with a comprehensive proposal of work to be performed, project deliverables and professional arrangements for the engagement. We look forward to discussing this opportunity with you in more detail, so that we may determine how we can best assist your institution. Request a presentation of our VENDOR LINK solution or a proposal of work.