What is The Vendor Advantage System®?
The Vendor Advantage System® is the only complete, outsourced, interrelated system that has helped credit unions and community banks get fair, risk-balanced vendor performance to achieve the results they expect from their vendors. Using The Vendor Advantage System® will help your bank or credit union improve in these key areas:
Vision
Give everyone in your credit union or bank clarity, understanding and focus on vendors, vendor performance and risk to get the performance you require from your vendors.
Plan
Understand how your vendors are performing and the results you’re getting; rid yourselves of poor-performing vendors and select vendors that will deliver the results you want – according to your plan.
Manage
Put the manage in vendor management and help your team, get the best prices, measure vendor performance to hold vendors accountable.
Why The Vendor Advantage System® works
Credit unions and community banks across the country have been working with Maple Street using The Vendor Advantage System® to get fair contracts, best prices, and managed risk.
Save time and resources
Outsourcing any of the time-consuming tasks of vendor management lets you apply your time and resources to other important tasks.
A holistic model
Rather than looking at each component of vendor management separately, we look at vendor management as a holistic model and integrated system that uses system thinking and a system approach to all of the different aspects of vendor management to provide better outcomes.
Define + achieve results
The Vendor Advantage System® provides an experience-based, real world framework to define the results you want from vendors and accountability to measure and achieve results.
Solve problems once and for all
Outsourcing any of the time-consuming tasks of vendor management lets you apply your time and resources to other important tasks.
Learn about the components of a revolutionary vendor management system
Vendor Selection
- Review existing vendor relationships
- Evaluate 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
- 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
- Outsourced invoice review
- Spend analysis
- Performance measuring and scorecarding
