With economic uncertainty and intense competition, vendor performance is more important than ever in this competitive market. Maple Street is proud to partner with CCUA to empower its members to thrive with our unique approach to vendor management.
CCUA member clients’ results: 337% ROI
Our CCUA full-service clients have achieved an overall return of 337 percent on their vendor management programs, with negotiated savings totaling over $9.2 million. That is, for every $1 spent on their vendor management program, they got $337 dollars back!
Did your vendor management program provide a positive ROI or did it just cost you money?
How we achieved these results
How can we generate such a high rate of return and savings for our clients? Instead of running vendor management as an expense, we view it as a way to actually manage vendors to reduce expenses. Only Maple Street has The Vendor Advantage System®, an outsourced integrated system that has helped credit unions get fair, risk-balanced contracts, better vendor performance to achieve the results they expect, and generate a positive ROI that can result in millions in savings.
Our system goes beyond the vendor management paper chase with a proven process to deliver a complete vendor management program, incorporate supply chain management principles and manage vendor lifecycles. It reduces expenses, improves vendor performance and manages risk.
Oh, and we’ll do the work for you. Can you imagine not having to read a SOC report again?
The Vendor Advantage System® comes with two guarantees – you’ll save more than you spend and you’ll pass your exam.
Here are the components of the system:
Vendor Selection –Includes new vendor vetting, choosing the right vendor, RFP management, best terms and pricing.
- Review of existing vendor relationships
- Evaluation of vendor performance
- RFP development and management
- Performance scorecard development
- Fair contract terms
Vendor Contract Negotiation – Includes negotiating for the best terms and pricing, performance monitoring and vendor score carding.
- World-class negotiation
- Negotiation planning
- Best prices, best terms
- Relationship contracting
Vendor Management Compliance Services – Includes VM policy & procedure development, risk assessments, risk ranking, due diligence collection, due diligence summaries (SSVRK – Street Smart Vendor Review Kits) and SOC report deep-dive reviews.
- Vendor risk assessment
- Vendor risk ranking
- Vendor due diligence gathering and review
- Policy and procedures
- Free unlimited user training
- Full vendor reporting
Contract Management – Includes vendor identification, contract collection, organization and contract alerts (auto triggered).
- Manage all your vendor contracts
- Identify and find missing contracts
- Get your contracts complete
- Audit your contracts to confirm they are current
- Confirm your contracts are compliant with privacy and red flag rules.
Vendor Performance Evaluation – Including relationship contracting and Performance Addendum.
- Performance measuring and scorecarding
- Vendor performance measurement
- Vendor remediation
If you want to transform your vendor management into an expense reduction program, call us.
Call 800-513-6839, email mssales@maplestreetinc.com or visit www.maplestreetinc.com/learn to get started.