Disruptive tech providers, new banking regulations, obscure deadlines and thresholds – these are challenges we face with clients every day. What many others still fail to see though, is that in an age of accelerating change, having a clear vendor negotiation strategy - and executing it well - is becoming more critical to bank and credit union executives than ever before.
To help spare others from costly lessons learned, here is a list of our best and most often given advice for preparing for a negotiation - or renegotiation. With our experts’ combined experience in the field, and $3.6 billion proof points behind us, these are SRM’s eight rules of engagement for effective vendor management.
