Managing Your Core Vendor Relationships
Two hour tele-web seminar June 18, 2012
Participants will leave with insight into how to evaluate the contract terms, and what areas to ask the bank’s attorney to look into in further detail. These skills can then be extended to other third party contracts, further enhancing the benefits. Today’s focus on reducing expenses, and controlling costs, makes this session especially time.
This tele-web seminar will begin on Monday, June 18, 2012 at 11:30 AM to 1:30 PM Pacific Time.
Many banks have signed contracts without a careful review. This session will look at key issues to watch for and opportunities for reducing expenses and controlling costs. These skills can then be expanded to other third party contracts.
Your contract for services with your primary banking software provider defines a very important third party relationship with your bank. Issues of exposure, liability, service levels, and yes, cost, are all in play. Many banks have signed contracts with dozens of pages, without a careful review. In some instances, the bank’s attorney has been asked to review and comment on the contract, but absent specific software expertise, such a review is cursory at best.
This session will guide CFOs, COOs, and others with responsibility for negotiating such contracts, through a list of key contract points that should be addressed. This session is not a legal review, but an operational one, of the implications of committing to selected aspects of the contract.
- The potential for your particular software solution to be discontinued,
- Contract terms and conditions,
- Use of ancillary and third party solutions,
- General vendor management guidelines, and
- Opportunities for improving pricing and service availability.
Senior management, CFOs, controllers, IT auditors, risk managers, IT and operations staff.
Trent Fleming was a pioneer in the introduction of check imaging to community banks, working with hundreds of banks in the selection, implementation and management of image P.O.D, archive, and statement systems. Key to his success is Fleming’s ability to educate employees and customers about the benefits of products and services. He has consulted with banks on matters as diverse as strategic planning, business continuity, and operational efficiency. His background includes correspondent banking, compliance, and experience as a sales operations executive with banking software vendors.
2.0 total credits
Member price: $250.00 | Non member price $500.00