A Better Approach to Managing Banking Vendors
Crowe Horwath LLP can help you improve the performance of your vendors and help reduce costs. We help banks optimize vendor relationships using a comprehensive approach that addresses the costs, capabilities, and risks associated with third-party providers of mission-critical services.
Our team helps banks establish appropriate oversight, while empowering business managers to derive the most value from their third-party providers. In addition to offering services related to vendor negotiations and vendor pricing, Crowe helps put in place clearly defined vendor expectations, supported by detailed service-level agreements (SLAs) and vendor scorecards you can use to manage the relationship.
A Three-Phase Approach to Finding the Right Vendor for Your Bank
Banking is changing quickly, particularly in the realm of mobile payments and digital transactions. Crowe Horwath LLP believes strategy, focus, and technology should advance iteratively. Strategy must respond to new competitive pressures.
In addition to comprehensive vendor management consulting for the banking industry, Crowe offers additional specialized vendor services:
Vendor expense benchmarking
A structured, pay-for-performance service in which you pay only out of the verified cost savings we help you achieve.1 Timely and objective analysis, along with a collaborative, nonconfrontational approach, can allow you to maintain and reinforce valued vendor relationships.
A disciplined, efficient, strategic approach to choosing vendors for major systems replacements and other mission-critical relationships. Drawing on our understanding of banks’ complex systems, we can provide a selection process that is objective, informed, and focused on matching the right vendor for your specific business needs.
Third-party risk management
Crowe comprehensive third-party risk management services can help you recognize, assess, and manage risks associated with third-party vendors – including monetary, regulatory compliance, intellectual property, business continuity, reputational, customer satisfaction, and confidentiality risks.
Our collaborative approach helps you maintain existing vendor relationships without disruption while laying the foundation for stronger, sustainable, long-term vendor relationships.
1Subject to the terms outlined in the final engagement contract.