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5 Ideas to Keep Product Roadmaps Aligned in Vendor Management Talks

Posted by Richard Whiddon on Jul 13, 2020 10:00:00 AM

5 Ideas to Keep Product Roadmaps Aligned in Vendor Management Talks

Given the whirlwind of recent events, it seems like ages since January, when one of our payments experts Larry Pruss weighed in on Visa’s acquisition of Plaid, API aggregator for P2P players such as Venmo. He discussed what this combination could mean for banks and credit unions going forward, reinforcing two key points:  

 

  1. Financial institutions are hungry for objective expert opinions on market developments; and 
  2. The strategic moves of major industry vendorsnot just their direct competitorscan have a major impact on their competitive position.     

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Topics: Vendor management, Product Roadmap

COVID-19 Impacts – SRM Vendor Invoice Tracking Data Trend Analysis

Posted by Jane Kendall on Jun 28, 2020 9:00:00 AM

COVID-19 Impacts – SRM Vendor Invoice Tracking Data Trend Analysis

In the months since the pandemic was announced, SRM’s experts have weighed in on the operational impacts of COVID-19. We also gathered perspectives from a cross-section of banks and credit unions through a survey conducted in the early days of shelter-in-place orders (results from survey 2 coming soon). Now that the bills have come due for April and May, we noticed some unusual emerging trends in the invoice tracking data.

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Topics: Vendor management, COVID-19, Vendor Invoice

With Regulators Looking On, How Scary is Managing Vendor Risk?

Posted by Michael Carter on Oct 23, 2019 2:15:00 PM

With Regulators Looking On, How Scary is Managing Vendor Risk

The FDIC and NCUA each issued wake-up calls earlier this year pertaining to vendor management. While neither reflects a change in policy, both agencies emphasized their intentions to look more closely at banks and credit unions’ supply chain management and business continuity processes, particularly in the technology arena. The tone of the communications sounded as if the guidance was being offered as “helpful advice.” However, such guidance – regardless of the tone – should cause bank and credit union leaders to assume that, in the future, their practices in these areas will be an examination focus. Here are some thoughts that could provide some assistance in such an environment.

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Topics: Vendor Contract Management, Vendor management, Vendor Risk

Budgeting & Vendor Management Amid Election Year Chaos

Posted by Patrick Goodwin, President on Oct 16, 2019 12:30:00 PM

Budgeting & Vendor Management Amid Election Year Chaos

Buckle up: we’re in for a ride. Regardless of your political persuasion, all signs point to an extended stretch of market volatility as we head into the 2020 election cycle, which by many measures is already hitting its stride. The 2020 budget season is playing out against this backdrop, with budget-setters up against even greater uncertainty than usual. The question looms, as the political barrage reaches new heights in 2020how can banks and credit unions remain flexible to the economic variables? 

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Topics: Vendor Contract Management, Vendor management, AI, Artificial Intelligence

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