While you focus on your core offering, rely on RedKnot, as your Managed Services Provider (MSP) to help gain efficiency and reduce costs. These triggers may signal a greater need for evaluating whether leveraging Managed Services is right for your Organization:
- The pace and complexity of change exceed resource capacity levels.
- Significant change or investment is required to meet the demands.
- The time needed to develop what is needed internally is constraining short-term performance.
- Regulatory non-compliance or risk exposures are increasing.
- There’s an appetite to relinquish control to achieve organizational objectives.
- The needs, demands and requirements have outgrown legacy processes, systems and functions.
- Budget constraints restrict needed staffing and support.
RedKnot's Suite of Managed Services Encompass:
Today, the vendor management function is governing and overseeing –
- more vendor relationships, as niche providers emerge and specialize
- more technically complex risks
- more requirements for vendors to meet
…with less funding than ever before.
Choosing to outsource has advantages:
- Comprehensive management of vendor risk, including meeting regulatory compliance requirements, if applicable
- The expertise to manage complex technology risks
- Reduced pressure on internal resources, without assuming more expense
- Robust reporting provides data-driven analytics and vendor relationship monitoring
- Empowered negotiations based on vendor’s performance through scorecard reporting
- Minimal staff required for tighter management of growing vendor networks
- Cost savings and risk reduction from recognition and consolidation of redundant service providers
- Clear oversight of the vendor network as a single source for all things “vendors”
- Tighter controls around contracts
Like many business functions, vendor management & governance is an ongoing process with distinct, repeatable processes that are required for each vendor. RedKnot has helped companies save significant time, money and resources through our outsourced program. Through a software-agnostic approach, we manage the due diligence process for new and existing vendors, execution of the due diligence questionnaire, collection of required documentation, follow-up communications and remediation of non-compliant vendors. Whether your process is highly manual or you are looking for scale for your growing corporation, we have the experience to customize an outsourced solution to help you realize significant benefits and third-party risk.
- Financial Services Internal Audit and Exam preparation
- Regulatory Exam Preparation (CFPB, SEC, etc.)
- Automated Clearing House (ACH) Audits
- Remote Deposit Capture Risk Assessment and Audits
- Wires Risk Assessment and Audits
For many business owners a transaction could be the right answer for growth or exit. Growth through acquisition could mean strategic entry into a new market, mitigating competitive risk or realizing economies of scale. Or it could simply mean cashing out hard-earned enterprise value for retirement. RedKnot has supported clients on both sides of the deal.
- Buy-side target identification, integration strategy and diligence management
- Sell-side preparation and marketing, and due diligence support throughout the transaction
Companies occasionally experience unexpected transition in senior leadership positions or as an organization. Redirecting the company or finding the right replacement is a process that takes time and the right talent. RedKnot can step into senior roles to bridge the gap.
- Supplemental leadership for mentoring and strategic training, including family succession support
- Interim management and support during candidate search process
Through RedKnot’s partnership with global services companies, our clients can take advantage of significant cost savings and operational efficiencies for call center, customer support, administrative and back-office functions.