Vendor Management Services

With nearly all credit unions becoming increasingly reliant upon vendors, examiners are focusing heavily on vendor management. As such, vendor due diligence and oversight continue to be an important part of your credit union's operations.

PolicyWorks provides a comprehensive vendor management solution by providing consulting and development services and partnering with Passageways, an industry leading provider in software solutions, to provide a vendor management software application.

Why Vendor Management Services?

Vendor management involves assessing risk, conducting due diligence, and monitoring vendors, which can be extremely time consuming.
Conducting vendor management and selecting the vendor that's right for you is critical to your future success.
Achieving the NCUA's objectives and regulatory guidance is necessary to the advancement of your credit union.

In-depth Analysis - A Comprehensive Vendor Mangagement Solution

PolicyWorks' vendor management consulting and development services include:

Vendor Management Program Development
Contract Review, Renewal, and Management
Policies and Procedures Draft and Review
Vendor Business Information Review
New Vendor Selection
Risk Assessment
Annual Vendor Reviews

Passageway's vendor management software application allows you to:

Easily manage vendor relationships
Ensure compliance by maintaining consistent checklists
Efficiently fulfill due diligence requirements
Upload and view vendor contracts effortlessly
Build in alerts to ensure you never miss a renewal date
Personalize your own Vendor Rolodex to conveniently organize vendor contact information
Include different viewing options for auditors and relationship managers

Resources

Vendor Due Diligence White Paper and Sample PDF
Vendor Due Diligence Case Study PDF

Learn more about the vendor management software powered by Passageways at www.Passageways.com

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