SRM Introduces ContractMAP℠ to Help Financial Institutions Make Coordinated, Proactive Decisions on Vendor Contracts

MEMPHIS, Tenn.--(BUSINESS WIRE)--SRM (Strategic Resource Management), a trusted advisor with more experience negotiating contracts than any other firm in the industry, announced the launch of its ContractMAP℠ service to help financial institutions see a clearer picture of their existing vendor commitments in the coming months and years.

Navigating a financial institution's complete footprint of vendor contracts – including their back-end technology, card network and other payment partners, and operational providers – is cumbersome and often results in missed opportunities that impact the bottom line. ContractMAP℠ alleviates that concern for banks and credit unions, providing a visualization and impact assessment of existing vendor contracts. ContractMAP℠ is unique because it offers an 8-to-10-year outlook on key contracts and considers how vendor decisions in one operational area can impact others across the organization.

"Vendor sourcing, RFP management, and contract negotiation services have defined SRM in our first three decades," noted Ben Mrva, SRM's Chief Revenue Officer. "ContractMAP℠ is the next evolution of our expertise, giving clients the power to navigate competing priorities and better evaluate contracts critical to their operations and sustainability. We continue to look for ways to deliver value, and ContractMAP℠ will do just that."

SRM's management team noted that financial institutions will also benefit from the efficiency and agility that ContractMAP℠ brings. It frees up vital internal resources, allowing them to focus on their primary activities while empowering the institution to respond quickly to changing market conditions and risks. Existing SRM clients are already onboarding to ContractMAP℠ during the first quarter of 2024.

About SRM

SRM (Strategic Resource Management) has helped 1,000+ financial institutions add more than $5 billion of value to their bottom line in areas such as payments, digital transformation, core processing, digital assets, and overall operating efficiency. For 30+ years, SRM has lowered costs, created revenue opportunities, increased productivity, and provided a competitive edge for clients in an environment of constant and accelerating change. Visit srmcorp.com for more information and follow us on LinkedIn and X (formerly Twitter) for timely and relevant insights.