Automatic renewals that cost credit unions money every year can be improved by 25% through Contract Management Automation!

Ventelligence takes a complete lifecycle approach to organizing your vendor management process. Throughout the contractual relationship with the vendor, you will manage the key dates in your contract, perform risk assessment and due diligence activities, and competitively bid the services as the contract approaches renewal.

When you partner with Ventelligence, you receive a cost-effective solution that provides automated tools for organizing, assessing risk, tracking, and monitoring third party agreements. Features include:

• Contract Database Offering Storage & Instant Retrieval of Contracts
• Customized Contract Reports with Dashboard Management Tools
• Customizable Auto-Alerts for Key Contract Trigger Dates
• Risk Assessment & Due Diligence Templates

Ventelligence takes it a step further by providing automated tools and cutting edge purchasing strategies to help credit unions streamline the buying process and obtain the lowest price possible for the goods and services purchased from outsourced vendors. Use of eRFPs, a supplier portal, and online live reverse auctions are just some of the tools available through Ventelligence.

“We were initially interested in the Ventelligence system so we could better manage our vendor agreements and streamline our due diligence and risk assessment processes. We soon discovered an added bonus to the system--the online purchasing component. With this tool, we were able to save 20% off our initial paper bid for computer equipment. We will definitely be using the online buying feature on future purchases.” John Hirabayashi, CEO, Community First Credit Union of Florida

Your team receives the following:

• Complete system training
• Assistance entering required information that will be tracked within the system
• Assistance importing corresponding contracts and any additional related documents

The result is an organized framework to effectively manage your third party vendor relationships. For more information on the Ventelligence program, visit www.ventelligence.com or contact Lisa Hammock at This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

What our clients say about us:

“We used Ventelligence to purchase ATM Maintenance Services for several machines. We had an unexpected savings of 33% from our initial paper bid. They made the process so easy and took care of everything for us. We will definitely be using the online buying feature on future purchases.”
Cindy Barco
President, Tropicana Federal Credit Union

“Being a small credit union, I was concerned with NCUA’s new due diligence requirements and how we could get this accomplished in a thorough and detailed manner. We implemented the Ventelligence system the latter part of 2008. The state examiners and NCUA both visited our credit union in March 2009. When we showed them the Ventelligence reports, it was a quick check and move on to the next area of the exam. I wish everything was this easy.”
Jim Weibert
CEO, Central Florida Postal Credit Union

“We utilized the Ventelligence product to purchase our new ATM Machines and were elated with the 10% savings over our original competitive bid. The results show the ePurchasing process is superior to traditional purchase methods.”
David L. Tuyo II, CIMA®, AIF®
EVP/CFO Pen Air Federal Credit Union

“For most people who don’t have a rigorous process in place, this is a different way to do business. In the past, credit unions have been more informal. This formalizes the process. But there is a high payoff because we all want to be in compliance.” 
John Hirabayashi
CEO, Community First Credit Union of Florida

 

Ventelligence ePurchasing Savings Results

Armored Car Services Event Results in 37.5% Savings!

Press:

Florida League Online Auction Showcases Best Product Bids for CUs (Credit Union Times)

  

Press Releases:

Automated 3rd Party Vendor Management Saves CUs Time & Money

FCUL Service Group Partner Saves Credit Unions up to 28 Percent through Collaborative Buying

Credit Unions Save Up to 32 Percent on Products and Services with New Purchasing Process