TRUE. And absolutely essential.

“After personnel, your bank’s biggest cost is likely your core vendor contract. If it’s not working in service of your overall strategic plan, then it’s just not working.”

- Jim Adkins, Managing Partner, Artisan Advisors

In the latest episode of Artisan Unfiltered, “Core Vendor Technology and Your Strategic Plan,” our team of experts – Steve Heckard, Matt Bergman, Jim Adkins and Jeff Voss – dive deep into the complexities of negotiating the core processing vendor agreement that will drive your strategic plan.

You’ll get great advice on:

· Hidden landmines that may be lurking in your contracts

· What to look for in a vendor to know if it’s right for your bank

· What you should be doing right now to ensure a smooth renewal or conversion process Listen here and contact Steve or Matt to get a pulse on whether your current contract is setting your bank up for success.

You’ll also learn more about whether a Virtual RFP is right for your bank.

For smaller institutions, Artisan Advisors offers its vRFP – a comprehensive contract review process which is implemented virtually to minimize engagement fees and provides project management, industry knowledge and overall assistance with a competitive vendor review. We perform significant due diligence in reviewing existing contracts, invoices, bank strategies and objectives, and how the bank utilizes the services being received. We also use the vRFP to define bank requirements and collect vendor due diligence. Artisan manages the entire process, provides financial analysis of proposals, and negotiates contract terms, resulting in a contract that works for the bank and helps them achieve their strategic goals.