As a result of COVID-19, many conversations around new projects or vendor contract renewals may have been put on hold. However, research shows that renegotiating payment processing contracts versus allowing for auto-renewals can lead to better pricing and improved vendor performance.
We’ve created a new Payment Processing RFP template to help credit unions evaluate their current vendor contracts and to evaluate alternative vendors. The editable document provides a framework for submitting an RFP as well as step-by-step guidance on:
- Topics and questions to cover during vendor discussions
- Best practices for vendor due diligence and client references
- How to assess proposals and pricing
If you have any questions about this template or need help with an RFP project, please schedule a complimentary 30-minute consultation here. We would love to help!
About Vendor Evaluation Services
The Vendor Evaluation Services (VES) team at Trellance has completed several projects in 2019, resulting in $23M in total contract savings and incentives for credit unions. It’s no surprise that 100% of Trellance’s VES clients would refer Trellance. With a proven process, the team provides a host of solutions to credit unions nationwide including RFP Project Management; Contract and Pricing Negotiation; Payment Network Analysis; and Implementation Project Management.
Trellance provides independent, unbiased guidance to credit union clients. Visit trellance.com for more about our professional services for credit unions.