Shopping for a new core involves so many details. The cost, the timeline, and even the vendor’s reputation can influence your purchasing decision, but there’s more to it. In fact, there are a few different layers to peel through to make sure you find the right core partner that fits your business’ needs.
That’s why we created a great guide for community bankers with discussion points to lead conversations with new core vendors during the due diligence process. We won’t cover the entire list in this post, but will touch on one of the most critical items: meeting the entire vendor’s team prior to signing any contracts.
Get to Know Your Core Vendor Team
Depending on the organizational structure, oftentimes, conversations with prospective core partners will only be between the community banker, select stakeholders, and the vendor’s sales representative. While the salesperson may speak to the ins and outs of the core system, he or she may not be involved after you sign the contract, unless of course you need to add an integration or enhancement down the line.
Ensure during your conversations, you meet the team behind-the-scenes working for your business, from the leadership team to the support managers. Meeting the entire vendor’s team during the initial conversations can dictate the future of your partnership, and you want it to be both a productive and positive experience.
You’ll want to ensure the following during the evaluation process:
- Your operations staff will be well supported with knowledgeable and responsive staff. Speak to a customer support manager.
- Understand the ins and outs of their technology infrastructure. Talk to their technical team and ensure the integrations you want will play well with their system.
- You have a sense for the timeline, milestones, and how the implementation will work. If possible, meet the implementation team, or at least the person leading the project.
The IBT Apps Difference
At IBT Apps, we have three different teams that interact with our clients even before there is a contract signed. We believe our business is about quality service and support, and not just a sales transaction.
Our teams are compromised of the following:
Implementations and Operations
The implementations and operations team is comprised of experts with a wide variety of banking experience. From previous bank presidents to bank operations, our people understand banking and are equipped with the knowledge needed to guide you through the conversion process.
We manage our clients differently than other core providers. We believe there is value in face to face conversation. So, once a year our account management team or our CEO will visit each of our clients to discuss their business.
We know that dedicated ongoing support is ideal for a successful partnership. Which is why we make it our mission to focus on creating an ideal experience for our clients, shortening the window of response times on cases and ensuring direct communication is maintained.
Get More Insights With the Vendor Management Guide
Lead a more effective discussion when evaluating new core partners with our new guide in your back pocket. Download the 7 Components of Successful Core Vendor Management for helpful best practices that assist you in making the right core partner decision.
Don't get caught off guard with details you didn't know to ask. Stay educated, get informed and be proactive with our new guide!