Third Party Delivery

Vendor Selection and Implementation

Vendor Selection

Given the complexity and associated risks with vendor selection, CFOR can partner with you to optimize your selection process. The process begins by gaining a deep understanding of the business requirements and expected benefits of the vendor relationship. Next, surveying the industry landscape for potential vendors to satisfy the requirements. Narrowing the universe of vendors to the top two or three options for final approval by management.  Once the vendor is selected, CFOR can partner with you to implement. 


CFOR can partner with clients to implement software or vendors. Implementation includes a detailed project plan, business requirement gathering, assessment of application vs. requirements, documentation and remediation of gaps, new process flows, unit testing, integrated testing, parallel testing, and documented operational readiness.

Vendor Surveillance

CFOR Vendor Surveillance Service

As the financial services industry has moved to an outsource model across many services, CFOR can partner with clients to design a vendor surveillance program to hold service providers accountable to deliver optimal service to internal and external customers.

The program includes tracking service level agreement deliverables, key risk indicators, trend analysis, risk incident management and establishing regular service delivery meetings. CFOR can work with service providers to provide actionable metrics used to identify trends early before minor items become larger issues.

As clients establish new vendor relationships or expand existing vendor relationships, CFOR can partner with you to implement the new service. Examples include banking relationships, outsource service providers, fund administrators, valuation services, data providers, and credit facilities. The implementation service includes a detailed project plan, documentation of new process flows, associated metrics, system access, data flows, any testing required and documented operational readiness. A natural extension of the vendor implementation is to commence a vendor surveillance program. CFOR can partner with you to build the vendor surveillance program. 

Outsource Services

CFOR Outsource Implementation Service

Given the industry trend to outsource all or segments of operations, CFOR can be an extension of the outsource service providers implementation team. CFOR can partner to help manage the program from agreement execution to post go live support. Managing complex large-scale implementations require specific experience. CFOR can deliver a dedicated staff, detailed planning, extensive documentation, requirements gathering, requirements gap analysis, clear communication, scope management, formal project governance structure, early integrated testing, detailed operational readiness, and formalization of ongoing contractual artifacts such as the service level agreement, key risk indicators, & change management protocols. CFOR will work with the service provider and the client to deliver services per the agreement.   

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