An intranet portal specialist has partnered with a consultinggroup to offer what the credit union specialists call acomprehensive vendor management program.

The solution combines the vendor management module already usedby dozens of Passageways LLC customers with vendor compliancemanagement consulting from PolicyWorks LLC, the companies said.

Offered either as an in-house or hosted solution, thepartnership will provide credit unions with vendor monitoringcapabilities, reporting, due diligence checklists and contractorganization/renewal alerts followed up with reviews andrecommendations.

The approach has already passed several audits at various creditunions, the companies said.

“We realize several of our customers are behind on this projectand this is an alternative to execute those projects as there is anindisputable hard dollar return on vendor management when executedwell,” said Passageways co-founder Paroon Chadha whose WestLafayette, Ind., company serves more than 150 credit unions.

“Our goal is to provide credit unions with the tools they needto navigate through this complicated and demanding regulatoryenvironment.

This partnership will provide credit unions with the resourcesthey need to implement a vendor management program that isefficient and sustainable for the long term,” said Justin Hupfer,CEO of PolicyWorks in Des Moines, Iowa.

–[email protected]