BNY Mellon

BNY Mellon

Trade processing: 10 elements

Standardized vendor evaluation

With vendor management becoming critical to business success, ServiceMatrix delivers dependable measures of what's going well and pinpoints where you need to drive improvement. Join your peers in using ServiceMatrix as a standard pathway.

FREQUENTLY ASKED QUESTIONS

What is ServiceMatrix?
Your platform for examining the performance of service providers and other vendors – bringing standardization, objectivity and ease-of-use.

How does it work?
Pick an area of interest, view the freely available high-level results and get evaluating your vendors to qualify for the complimentary full report.

What's available now?
Prestigious institutions have already conducted evaluation of their vendors so ServiceMatrix presents trusted vendor ratings. Gap analysis pinpoints their strengths and weaknesses – giving your people actionable data on what requires improvement.

Which vendors?
Any service provider or other vendor can be evaluated. Of rated so far, 14 currently qualify for vendor reports.

What its scope?
Currently encompassing 10 broad service areas, do please tell us your requirements.

ServiceMatrix is the go-to platform for service reviews to identify gaps in performance, the need for new services and to guide you on RFP pre-selection. You can rely on ServiceMatrix as the new standard for accurate assessment of how you're being served and to bind vendors to work with you on driving improvement. Each business function in each location can report on their vendor touchpoints, with ServiceMatrix consolidating the data and offering up tools to contrast service levels by geography and function.

METHODOLOGY

The latest ServiceMatrix analysis is based on 6000 ratings from more than 350 qualifying responses. While service providers and other vendors have been evaluated to date, a minimum of 10 comparative evaluations by institutions with multiple providers is required for a vendor to qualify for the results. A significant proportion of responses comes from financial institutions which, in using a wide range of vendors, are best-placed to draw fine comparisons in the performance of their chosen partners.

Respondents to simple questionnaires score their counterparties on a range of underlying elements for one or more service categories of their choosing, across several broad service areas. Each element is rated by reference to one or more of these measures: accuracy/timeliness, responsiveness, competence, adequacy, ease-of-use and/or scope. Scoring is on the following scale:

OUTPERFORMER AWARDS

Vendors are granted a ServiceMatrix Outperformer award for each service category in which they score above the all-vendor average. These are noted alongside the gap analysis chart for each vendor.