Services for Financial Services Firms

What is a Revenue Enhancement Project?

The goal of a Revenue Enhancement Project is to maximize individual account/client revenues and define a consistent Pricing Approach. Typically a Revenue Enhancement project is undertaken after a merger or acquisition to understand the way each organization managed revenue and pricing, and to develop a new approach for the future.

For example, a project might include the following tasks:

  • Collect and analyze account level revenue to identify pricing patterns and anomalies
  • Assist management in developing appropriate responses to any issues discovered
  • Develop new Price Schedules
  • Design a process to have personnel review client accounts and identify action plans to resolve revenue issues
  • Train personnel in the review process and new approach to pricing and revenue management

What are Loan Workout Activities?

The goal of a Loan Workout Project is to maximize the value the bank ultimately receives from an asset.

For example, a project might include the following tasks:

  • Develop strategies to manage the distressed loan portfolio
  • Manage foreclosed property and develop a feasible disposition strategy for all collateral
  • Develop strategies to manage business capital, inventory and personal property assets
  • Provide weekly reports to senior management on the status of all distressed loans or REOs
  • Allow lenders to get back to the job of lending

What is Operational Effectiveness?

The goal of an Operational Effectiveness Project is to determine if the existing organization is using process and technology resources to be as effective as possible. Typically organizations implement automation solutions without thoroughly reviewing the processes that surround them. As a result, the benefits of the the technology is limited.

For example, a project might include the following tasks:

  • Document and analyze current processes
  • Assist management in developing appropriate responses to any issues discovered
  • Develop new processes
  • Design a process to have personnel review processes periodically
  • Train personnel in the review process and develop a timeline to implement changes

What are Product Pricing Strategies?

The goal of a Product Pricing Strategies Project is to maximize product revenues and define a consistent Pricing Approach. Typically a Review of Product Pricing Strategies is undertaken after a merger or acquisition to understand the way each organization managed revenue and pricing, and to develop a new coordinated approach for the future.

For example, a project might include the following tasks:

  • Collect and analyze product level revenue to identify pricing patterns and anomalies
  • Assist management in developing appropriate responses to any issues discovered
  • Develop new Price Schedules
  • Design a process to have product managers review product pricing strategies and identify action plans to resolve revenue issues
  • Train personnel in the review process and new approach to pricing and revenue management

What is Systems Integration?

The goal of a System Integration Project is to determine if the existing organization is using all of its technology resources effectively. Typically organizations implement a single automation solution without thoroughly reviewing the other systems in the process. Often manual processes are implemented to bridge the gap between systems as a stop gap measure, and then never reviewed again, as the next project takes precedence.

For example, a project might include the following tasks:

  • Document and analyze current systems, their functionality and the current use of the functionality
  • Assist management in developing appropriate responses to any issues discovered
  • Develop new processes
  • Identify opportunities to leverage technology, upgrade to a newer version or replace it

What is a Client Service Strategy?

Client Service Strategy defines how a client is handled once a product or a service is purchased.

For example, a comprehensive Client Service Strategy considers the following types of issues:

  • Does the Sales Function hand-off the client to a Client Service function?
  • If so, what is the process/procedure? Is the Client Service function part of the sales process? Are there systems and operations in place to support the transition?
  • If not, how does the sales person balance selling with servicing? Are both functions compensated equally? Does the Sales force have the right skills to do both well?
  • If the Client Service function assumes responsibility for the client, how are subsequent sale opportunities handled? Does the Client Service function have the skills to do both well?

What is Organizational Structure?

The goal of an Organizational Structure Review is to determine if the existing organization structure is supporting the strategies of the organization, as well as the products and services it is providing.

For example, a project might include the following tasks:

  • Document and analyze current work team structure and levels of management
  • Interview management and staff to identify issues and challenges presented by the structure
  • Recommend new organizational configurations to address the issues
  • Identify opportunities to leverage staff and minimize the need for new headcount