Trusted Advisor to Banks and Credit Unions

Contract Negotiations

Why Year-End is Important to Your Core Vendor


As your Core contract approaches its expiration date, there are many things to consider in the negotiation with the provider. However, did you ever think the time of the year could impact the negotiation? We are approaching end of calendar year and fiscal year for most. Wrapping up the end of the year sales renewals…

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Lessons Learned from a $130 Million Core Contract Negotiation

table contract negotiation

4 Steps to Take Before and During Negotiations to Improve Your Outcome Recently, our firm assisted a client on the renewal of a core contract that could approach $130 million in total contract value if the financial institution hits its growth targets. Below are a few war stories and major hurdles that the client cleared…

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Whitepaper on the results of 602 Previous Core Vendor Contract Negotiations

The Remedy Analytics team recently dissected over 600 previously negotiated contract renewals from three different categories: Contracts negotiated by a bank and credit union (DIY) without consultant assistance Contracts negotiated by flat-rate or by-the-hour consultants Contracts negotiated by contingent rate (percentage of fee) consultants The surprising (or not so surprising) results can be found in…

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Are Banks and CU’s “Required” to have a third party due diligence review of their vendor contracts?

We attended some interesting presentations last week at the Illinois Bankers Association. One in particular was called “The ISO’s guide to Third Party Oversight” by a company called CoNetrix. Sounds about as interesting as watching paint dry, doesn’t it? The initial reason we attended was to try to ensure that the Remedy Request for Proposal…

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