Mastering multi-tasking with an efficient approach to vendor management
Company Size
1,000+
Region
- America
Country
- United States
Product
- Ncontracts Manager
- Nvendor
Tech Stack
- Vendor Management Software
- Risk Assessment Software
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Cost Savings
- Productivity Improvements
Technology Category
- Functional Applications - Enterprise Resource Planning Systems (ERP)
Applicable Industries
- Finance & Insurance
Applicable Functions
- Business Operation
Use Cases
- Regulatory Compliance Monitoring
Services
- System Integration
About The Customer
Tinker Federal Credit Union is a $3.5 billion-asset credit union based in Oklahoma City, OK. The credit union has been a customer of Ncontracts since 2016 and is primarily examined by the NCUA. The vendor management coordinator at Tinker Federal Credit Union, Melody Beck, manages everything from onboarding vendors and updating policies and procedures to ensuring documents are up to date. She began her vendor management role in January 2017 after previously working on the frontline.
The Challenge
Tinker Federal Credit Union was facing challenges in managing vendor tasks and ensuring that all vendor management efforts and documents were centralized, current, and exam-ready. The credit union needed a solution that would help them efficiently manage their vendors, update policies and procedures, and ensure that all documents were up-to-date. The task was particularly challenging given the size of the credit union and the fact that the vendor management coordinator had only recently taken on the role.
The Solution
Tinker Federal Credit Union implemented Ncontracts Manager and Nvendor, Ncontracts’ seamless solutions for helping financial institutions take control of their contract and vendor risk. Ncontracts enables Melody, the legal department, and business owners to easily access up-to-date contracts all in one place. The business owners also appreciate custom automated alerts to let them know when a contract needs attention. Beck has also freed up time by outsourcing Tinker Federal’s collection of vendor due diligence documents to Ncontracts. Ncontracts also monitors vendors, providing an alert if something changes with a vendor.
Operational Impact
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