Blogs

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The right way to do Vendor Management – part 3

This is part three of four of the Right Way to Do Vendor Management. In the first article, we overviewed vendor management as a system, with requirements about choosing the right vendor, contracting well, and measuring and monitoring vendors. In the second article, we overviewed vendor selection and choosing the right vendor. This article is about contracting well. Stay with us – it’s actually more interesting than you think.

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Happiness is a warm blanket

Famed cartoonist Charles Shultz titled one of his books “Happiness is a Warm Puppy.” We agree, but for a child in need – happiness can also be a warm blanket. Sometimes, people who have almost everything they need don’t recognize the little things that can be so meaningful – like a blanket for a child who is victim of abuse.

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The right way to do Vendor Management – part 2

This is part two of four of the Right Way to Do Vendor Management. In the first article, we overviewed vendor management as a system with three parts: choosing the right vendor, contracting well, and measuring and monitoring vendors. This article is about the first, choosing the right vendor.

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The right way to do Vendor Management – part 1

Part I in a four-part series about vendor management program requirements. “What’s really supposed to be in your vendor management program?” The answer is, ‘Your concrete plans for managing third party vendor risks to your…

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Contract traps: the contract term.

Do you ever wonder what is the right contract term (the length of the contract)? The answer: As short as possible. Part of a vendor management program is the negotiation of fair, risk-balanced contract terms – an overlooked…

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NCUA looking deeper into vendor management in 2019

According to NAFCU, National Credit Union Administration examiners are paying extra attention to vendor management and outsourcing processes in 2019. NCUA stated it would focus on the “oversight of service provider arrangements…

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