Credit Unions

Vendor management systems help streamline a business’s processes to run more efficiently, saving time and money. Vendor Core offers critical VMS software for Credit Unions to manage their vendors while meeting state and federal regulations.

Our VMS software is scalable and can be easily utilized with your company’s other operational systems. It is the most cost-effective solution for Credit Unions compared to other software, and regardless of the number of users, vendors, or documents, it is still the same low price.

Vendor Core enables your Credit Union to develop a centralized comprehensive VMS system that allows you to manage vendors throughout the vendor lifecycle, while keeping your data and user experience safe. Find all of your vendor information, like contact information, contracts, financials, and other documents, in one easy to use software, and easily export data at any time to an .xls, .csv, or .xml file. The VMS software also automatically sends contract expiration and review email reminders.

While it is important to outsource key business functions to third party vendors in order to not only run day-to-day operations but expand services and product offerings while remaining focused on your core business, inadequately managing these third parties can result in financial loss and legal disputes.

Defining and conducting vendor risk analysis is important for any financial institution, but especially for Credit Unions. Our software addresses NCUA expectations by allowing you to create your own custom risk management and due diligence questions, define different risk levels of vendors, then dedicate resources to risk mitigation and monitoring. Oversight and due diligence must be performed regularly, especially for critical vendors like core processors, statement printing companies, and check processors.

For more information on our vendor management software for Credit Unions, contact us today.

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