Most institutions purchase new technology solutions every 5 to 7 years. Evaluating and choosing the new solution in a timely manner can be a formidable task. ICI consultants assess new technology solutions every day. Our consultants are experts in providing the following services:
Draft a request for proposal (RFP) document.
Field ongoing vendor questions.
Read and scrutinize all vendor proposals for completeness and accuracy.
Develop questions from proposals for vendor presentations.
Obtain inside information on vendors prior to presentation meetings.
Build a detailed vendor comparison chart.
Attend and critique the vendor proposal presentations.
Present vendor pros and cons report after presentations.
Assist client in narrowing down the list of vendors.
Form questions for and accompany client on site visits.
Call vendor reference lists, document answers and report to client.
Request and obtain best and final pricing.
Compose price comparison report: analyze and summarize 5 year costs to client.
Review price proposals, negotiate final bids and obtain support commitments.
Assist client in filling out score card results and making final decision.
Draft and present final recommendation report with criteria comparison chart and prepare board summary report.
ICI Consultants supply the following benefits to our Vendor Evaluation Clients:
Identify the most cost effective direction.
Identify the best long term solution for the client by utilizing experience from hundreds of other vendor evaluations.
Position client for the best installation and support commitments via a comprehensive RFP and binding proposals from vendors.
Protect client with essential contract verbiage and ensure the best possible long term vendor service.
Secure the best possible prices on hardware, software, maintenance, supplies and services.
Short learning curve to understand your operation.
Secure the most reliable solutions: separating fact from marketing optimism.
Scrutinize all vendor proposals, ensuring an apples to apples comparison and accurate configurations.
Client will benefit from over 300 years of experience (financial institutions and vendor backgrounds).
Provide an outside and completely objective viewpoint.
Negotiation Experience: On average, ICI assists in the purchase of over $70 Million in contracts each year.
Here are just a few examples of Vendor Evaluation engagements that ICI has delivered:
Texas Credit Union ($150 Million): Core Processing Vendor Evaluation and Contract Negotiation
Northwest Bank ($3 Billion): Core Processing Vendor Evaluation and Contract Negotiation
Iowa Community Bank: Check Imaging Business Case and Vendor Evaluation
Massachusetts Bank ($1.3 B): Core Processing Vendor Evaluation and Contract Negotiation
Wisconsin Bank ($900 M): Core Processing Vendor Evaluation
Tennessee Bank ($1 Billion): ATM Processing Evaluation, Check Imaging Business Case and Vendor Selection
New England Bank ($150 B): Lockbox Business Case (In-House vs. Outsourcing), Vendor Evaluation and Conversion
Southern Bank ($9 Billion): Online Banking Strategic Recommendations, Vendor Evaluation and Implementation
Virginia De Nova Bank: Core Processing Vendor Evaluation
Wisconsin Bank ($3B): Remote Capture Strategic Recommendation Report and Vendor Evaluation
Vermont Bank ($3 B): Check Imaging Business Case and Vendor Selection
New England Bank ($150 B): Check Processing Business Case (In-House vs. Outsourcing), ATM Processing Vendor Evaluation and Conversion
Washington Credit Union ($900 M): Check Image exchange and Remote Capture Business Case, Vendor Selection and Implementation Assistance
Texas Bank ($2.3 B): Core Processing Vendor Evaluation and Contract Negotiation
Connecticut Bank ($17 B): Mobile Banking Vendor Evaluation and Contract Negotiation
Virginia Bank ($1.8 B): Core Processing Vendor Evaluation and Contract Negotiation
Maryland Bank ($1.7 B): Core Processing Vendor Evaluation and Contract Negotiation