CLINTON, Md. – U.S. Postal FCU said it has signed with Ncontracts to augment its compliance program by strengthening contract visibility and vendor oversight.
“Having useful summaries of key contractual terms, e-mail reminders and insightful reports considerably streamlines our ability to review and analyze key data and take action on it in a timely manner. The summaries of financial information, SSAE 16s, and other documents from our critical vendors create tremendous value for our team,” said Bill Chow, vice president of operations at the $200-million credit union.
Ncontracts said effective vendor management offers an opportunity to increase net profits, improve contract terms, reduce costs, minimize compliance expenses and enhance vendor performance.