Technology Solutions at FORVIS offers assistance to financial institutions that are evaluating new core processing platforms or renewing existing service contracts.
We have developed a process for vendor evaluation that considers bank strategy and objectives, as well as product and service requirements. We create custom requests for proposals based on due diligence analyzing a range of factors including existing contracts, the competition, invoices, and utilization.
Technology Solutions engagements can last from two months to two years. During that time, we help our clients to negotiate a suitable contract for services required at competitive pricing.
Attention is given to both business and contractual issues. Technology contracts have become very complex and can become costly if terminated early. Beneficial terms can be negotiated to reduce fees and limit termination fees in the event of a future merger or acquisition.
A number of banks utilizing in-house technology today are considering outsourcing their core processing. FORVIS can help analyze cost differences and help a client transition to outsourced processing.
FORVIS Technology Solutions services include:
- Core Vendor Search and Selection
- In-House vs. Outsourced Processing
- Contract Renewal
- Merger Assistance
- Conversion Management Assistance
- Technology Strategic Planning