Improve your efficiency and performance
Abound Resources offers a comprehensive solution to address issues like:
• Streamlining processes
• Improving the utilization and ROI of technology
• Increasing revenue
• Fee income and profitability
• Overall efficiency within the bank
Phase I: End To End Best Practices Assessment
The first step is a comprehensive assessment that compares literally every facet of your institution to industry best practices. The goal is to identify and quantify opportunities that will improve efficiency and performance. Achieving these goals will lead your institution to increased revenue, decreased costs and enhanced earnings.
Abound Resources’ Best Practices Assessment examines every key functional component of your institution providing an insight to your unique market and operating environment.
Upon completion of the assessment, our team will provide a perspective into how each area of your institution compares to industry best practices. We will tell you our recommendations and quantify how they will impact your institution’s revenue and profitability.
Phase II: Prioritization And Implementation Plan
Consistent high performance requires a process based on total bank knowledge that makes use of the latest best practices and tested solutions. Top performing institutions have an alignment of technology, processes and personnel.
Based on the findings of the Best Practices Assessment in Phase I, and where the greatest opportunities lie for improvement, our team will establish priorities in each of these three areas. Short and long-term goals will be set for synchronizing each area with best practices.
We will help you define what the success of this initiative will look like administratively, technologically, operationally, culturally and, of course, financially.
Our team will develop a detailed blueprint for addressing the priorities, and achieving the short and long-term goals. This blueprint will identify the resources required, state specific action items, and set milestones and timelines.
Phase III: Execution
The blueprint developed in Phase II is carried out in a variety of ways depending on your internal capabilities and resources available.
Abound Resources’ team can:
- Provide initial guidance to internal personnel who will then be assigned action items and milestones. Our consultants will then provide high level oversight of timelines and milestone achievement.
- Work closely with individual internal resources on the details of action items and provide hands on assistance. This will ensure that all facets of the initiatives are consistent with best practices and are integrated within the overall project.
- Establish and lead Strategic Task Groups made up of personnel from within your institution. These groups work to execute the blueprint and make recommendations to management for the most effective method of making internal changes. This process creates a high degree of organizational buy-in and long-term commitment to change management.
Phase IV: Follow-Up and Goal Achievement Assessment
We follow-up with management and compare the final outcomes to the goals defined in the blueprint from Phase II.
This follow-up provides reinforcement to internal personnel and ensures ongoing commitment to the overall process.