Profit & Process Improvement
Rethink your revenue and cost structure for the future.
We have built our Profit/Process Improvement practice by uncovering operational inefficiencies and revenue opportunities for hundreds of financial institutions in a manner sensitive to the culture within the organization.
We know that community banks’ net interest margins are under pressure and regulatory compliance costs are on the rise making revenue growth more difficult. We also know that controlling technology costs are a challenge for community banks in the ever-changing technological landscape. To combat this, we help to implement a structure to maximize revenues and reduce operational inefficiencies that unnecessarily drain resources from other more profitable opportunities.
We benefit you by providing:
- Third Party Review. Operational tasks within a community financial institution are so customized it is very difficult for senior managers to ascertain if certain areas are performing at peak efficiency. Using a third party to periodically review operations, invoices, software use, and vendors, can provide management the perspective necessary to make modifications that improves profit and performance.
- Benchmarking and Peer Comparison. We will compare your operating expenses to peer statistics and also by department to industry benchmarks and make recommendations highlighting efficiency opportunities.
- Revenue Enhancement. Our analysis is not limited to expense reduction. To increase non-interest income, we offer clients insight on current trends and traditional strategies and offer best practices to enhance fee tracking and collection.
- Contract Negotiations. Many financial institutions have difficulty in deciphering their monthly core processing invoices and often enter into extended contracts to reduce annual costs without negotiating concessions. We have the expertise to assist institutions to understand their invoices – and if needed, can negotiate contracts for technology expense containment and reduction.