Vendor Management
Vendor management is more than regulatory compliance. An effective vendor management program results
in lower expenses and better relationships with vendors. A good vendor management program not only
analyzes risk and provides mitigation of that risk, but ensures that the credit union not only gets
the best price but also the best contract service terms that are available in the marketplace.
Maple Street's vendor management program is an outsourced service to provide the credit union the tools necessary to:
Maple Street's program saves the credit union a tremendous amount of time and effort in gathering the necessary due diligence information and making sure that it is available for both the credit union's risk analysis and to show regulatory compliance to the credit union's examiners.
By outsourcing the task of gathering and collecting all of their vendor information, the credit
union can focus on its core responsibility which is the risk analysis itself. The Maple Street
system includes the tools necessary to document the review process and schedule any necessary
and appropriate follow-up that may be required. Outsourcing this service helps the credit union
complete its vendor management risk reviews quickly, allowing staff to focus more on the vendor's
performance and less on the collection of information.
When coupled with contract management and vendor management, the result is a comprehensive risk mitigation program that meets regulatory requirements and reduces expenses. We guarantee it!
Vendor management is more than regulatory compliance. An effective vendor management program results
in lower expenses and better relationships with vendors. A good vendor management program not only
analyzes risk and provides mitigation of that risk, but ensures that the credit union not only gets
the best price but also the best contract service terms that are available in the marketplace.
Maple Street's vendor management program is an outsourced service to provide the credit union the tools necessary to:
- 1) Do the risk analysis and
- 2) Rank the criticality of vendors and the degree of risk associated with each vendor.
Maple Street's program saves the credit union a tremendous amount of time and effort in gathering the necessary due diligence information and making sure that it is available for both the credit union's risk analysis and to show regulatory compliance to the credit union's examiners.
By outsourcing the task of gathering and collecting all of their vendor information, the credit
union can focus on its core responsibility which is the risk analysis itself. The Maple Street
system includes the tools necessary to document the review process and schedule any necessary
and appropriate follow-up that may be required. Outsourcing this service helps the credit union
complete its vendor management risk reviews quickly, allowing staff to focus more on the vendor's
performance and less on the collection of information.
When coupled with contract management and vendor management, the result is a comprehensive risk mitigation program that meets regulatory requirements and reduces expenses. We guarantee it!