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The ICI Approach
The ICI Process
Assessment >>ICI takes a holistic view to surveying the financial institution's operations at the executive and operational level. The ICI survey produces a comprehensive analysis on the institution's application and technology systems that identifies gaps, strengths, weaknesses and results in an actionable report on strategic recommendations presented to management.
Results >>ICI Consulting is practiced at the business of delivering results for its clients. These results come in many forms – better pricing, advantageous contract terms and enhanced service level agreements to name a few. The results are often summarized that the financial institution secured a superior deal, and in turn, can serve its customers and members more efficiently.
Vendor Evaluation >>The ICI process continues with an in-depth review of a qualified set of vendors via a series of presentations, demonstrations, site visits and customer references. The review focuses on software features and functionality that are most important to the financial institution and incorporates longer term strategic considerations related to selecting a true vendor partner for the bank or credit union.
Conversion/Renewal >>Once ICI has guided its clients through a rigorous evaluation, negotiation and selection process, the financial institution makes a decision to convert to a new core processing platform or renew its contract with the incumbent vendor. Whatever the decision, ICI consultants have guided executive management through a comprehensive analysis of qualified alternatives so that a decision can be made to suit the unique needs of the bank or credit union.
Selection >>ICI consultants analyze RFP (Request For Proposal) responses from vendors, compare product information gathered during many parallel evaluations and prepare executive level reports that summarize complex technical and financial data. The results include: readable pros and cons reports, vendor score cards and Total Cost of Ownership comparisons that assist financial executives in making educated decisions on critical technology acquisitions.
Negotiation >>On behalf of its clients, ICI pursues cooperation with vendors on the principle that “you don't get what you deserve, you get what you negotiate”. ICI crafts Additional Terms and Conditions, Service Level Agreements and related Financial Penalties that are measurable and appropriate for the financial institution. For its clients, ICI requires that vendors maintain reasonable and balanced accountability for service quality.
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