Vendor Procurement

Vendor Procurement

The BettenField Group takes pride in our ability to coordinate service provider identification, evaluation, selection, and contract negotiation. We can oversee or conduct any specific stage of the procurement process or manage procurement from start to finish.

Our vendor procurement services include:

  • Service provider identification and research
  • Request for Proposal (RFP) development and administration
  • Due Diligence Questionnaire (DDQ) development and administration
  • Vendor comparison and selection
  • Vendor reference assessments
  • Contract negotiation

Our research capabilities allow us to provide clients with an array of vendor options for assessment, and our systematic approach enables us to guide our clients to the right solution for each outsourcing question.

The BettenField Group acts as either negotiator or advisor during the vendor contract negotiation process. We strive to ensure our clients have accountability from their vendors. Our commitment to accountability means that we can help craft comprehensive Service Level Agreements (SLAs) that drive optimal vendor performance to meet or exceed expectations for customer service, data security and privacy, physical security, business continuity, reporting requirements, and regulatory compliance.

Working with the key partners of the financial institution, The BettenField Group develops the appropriate balance between service, cost, and controls. Each contract is reviewed for inducements that could be detrimental to the financial institution’s current or future market concerns.