We helped these financial institutions get the very best deals from their vendors. Do you know how?
WE DO.
And we’re ready to show you how.
One returning client saved $70,000/year over a 7-year term on their Debit/Credit Card Processing contract
This growing financial institution had used our contract renegotiation services in the past and wanted to see what we could do for them when their debit card processing contract was coming due. We were familiar with their current processor, as well as the other choices available to them. Our thorough analysis showed there were opportunities available to them.
Ultimately a straight renewal with their original debit card provider was decided upon where we were able to secure them $70,000/year in savings over a 7-year term with the ADVANTAGE Contract Negotiations program. That ends up being close to $500,000 in savings over the life of the agreement. We believe it speaks volumes when we have clients return to us over and again as their vendor agreements come due.
A client received a savings of $280,000/year and close to $1,000,000 in savings over term of their Card Branding Agreement
Many banks and credit unions inherited their card brand, and don’t know if they have a contract, let alone who their representative is. At ADVANTAGE, we have strong connections and contacts at all major card brands – VISA, MasterCard, and Discover. It can be overwhelming to research all of the variables in pricing, terms and conditions when making such an important decision. That is why our client chose the ADVANTAGE Contract Negotiations program for reviewing their VISA card brand agreement. After our review and careful negotiations, the recommendation was to stay with VISA. The institution received additional savings of $280,000/year totaling close to $1 million in savings over the 7-year term of the card brand agreement. This review and negotiation can take place in as little as 90-120 days – meaning your bottom line can be positively impacted in only 3-4 months’ time.
Our client saved $72,000/year over a 7-year period on their Core Processing Contract
One client was feeling overwhelmed with its normal day-to-day operations and needed some assistance as their core processing agreement was coming due. They decided the ADVANTAGE Contract Negotiation program could be the solution. They contacted us 24 months before renewal – perfect timing to see how their existing core processor would respond to the review and negotiations. If the result wasn’t the very best proposal, we had plenty of time to look at other vendors and put the service out to bid. Starting this early can also give us the opportunity to negotiate retroactive savings. In this particular case, the negotiations saved the institution $72,000/year over a 7-year period. Not only did we help them reduce costs, we saved them a huge headache by taking this task off of their plate so they could stay focused on their day-to-day operations and even larger strategic growth initiatives.
A returning client saved $100,000/year on their Internet Banking contract – without switching providers
Another client who had previously used us to negotiate their core processing agreement had an internet banking contract coming due and they reached out to us. They knew that we were familiar with the internet banking vendors, and that we had achieved great results for other clients. Once we understood their specific needs, we sent the agreement out to bid. After negotiations, the decision was reached to stay the course with their original internet banking provider. With the Contract Negotiations program, we secured an additional $100,000/year savings on their behalf. Another win for our client!