In today’s environment and with the number of vendors available to financial services firms, vendor quality is crucial to having the right technology, software applications and reliable, timely data in the hands of decision-makers.

Many companies offer a multitude of services to their clients, many of which cross service lines. ISN takes a service-level approach to evaluating vendors, making sure each service is optimized and providing the highest degree of service possible. ISN focuses on four major components of vendor management:

• Vendor Commitment -- Obtaining vendor commitment to build a strategic relationship with their clients is the most important step in maximizing efficiency and obtaining the greatest value from systems and processes.   The ISN team partners with clients and vendors to ensure there are common goals and a willingness to make and accept change.

• Evaluation Process -– The evaluation process is rooted in identifying and documenting key performance criteria for the vendor service. The scoring system can only be applied in an environment that is consistent with vendor and client goals and objectives. ISN assists clients in identifying those characteristics which are vital to maximizing value.

• Benchmarking -- Market leaders consistently view their organizations as dynamic.   This mindset applies to people, process and technology. ISN, with it’s deep experience with industry leading companies, can help optimize your vendor relationships by applying best practices and incorporating them across your organization.

• Due Diligence -- Many organizations do not have the resources to conduct vendor due diligence, applying the key performance indicators and scoring system to vendor relationship to ensure maximum value. ISN has the resources and the experience to train client resources or conduct the appropriate level of due diligence on behalf of the client.