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

Ben Mrva

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.
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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 ContractMAPSM 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.

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