Backed by more than 17 years of experience, our consultants negotiate meticulous terms and conditions and ensure the vendor addresses your specific issues and long term objectives.
ICI has negotiated over 300 vendor contracts amongst our 220 clients. We have negotiated with virtually every major bank and credit union technology vendor. ICI maintains a database of vendor pricing and service terms. This information works to the client’s advantage and allows us to offer the following Contract Negotiation Services:
Read and scrutinize the vendor proposals.
Form and ask questions of vendors on their proposals.
Field ongoing vendor questions.
Obtain, document and provide to Bank or Credit Union inside information on both vendors.
Request and obtain best and final pricing.
Compose price comparison report: analyze and summarize 5 year costs to Bank or Credit Union.
Provide Bank or Credit Union senior management and legal staff with a comprehensive list of additional terms and conditions.
Send contract terms, conditions and performance requirements to competing vendors.
Conduct an on site discussion of the vendor responses to the issued terms, conditions and financial penalties.
Review price proposals and negotiate final bids.
Obtain final vendor support commitments in conjunction with Bank or Credit Union senior management and legal staff.
ICI Consultants supply the following benefits to our Contract Negotiation Clients:
Negotiate the best long term solution for your Bank or Credit Union utilizing evaluation experience from hundreds of vendor evaluations across the U.S.
Speed: ICI will assist the Bank or Credit Union in making a fast, yet educated vendor decision.
Position Bank or Credit Union for the best support commitments.
Protect Bank or Credit Union with essential contract verbiage and ensure the best possible long term vendor service.
Secure the best possible prices on hardware, software and outsourcing services.
Secure the most reliable solutions: separating fact from marketing optimism.
Scrutinize vendor proposals, ensuring an apple to apples comparison and accurate configurations / quotes.
Here are just a few examples of Contract Negotiation / 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