Vendor Performance Management Case Study
Community Credit Union of Florida
Executive Overview
CCU Florida faced challenges in managing over 140 vendor contracts, lacking the specialized expertise to secure optimal terms and conditions. The complexity of tracking payments, managing contract expirations, and exploring new vendor options further strained resources. As a result, staff were often pulled away from their core mission of serving members and driving community impact.
Challenges
• Lack of expertise to manage over 140 contracts as a result of rapid growth• Lack of bandwidth: vendor management responsibilities were detracting from the team’s ability to focus on member needs and community service
Solutions
Results Achieved
Saved
Over $5.4 million
Achieved
832% return on investment (ROI)
Improved
Efficiency ration to be well below peers