Enterprise Risk Management-effectively managing risk

A financial institution recently evaluated the effect that ProfitStars’ eEMS product had on their operation. They reported that eEMS kicks off the account reconcilement routine automatically and within 30 minutes spits out the exceptions for the day, saving up to 30 hours per month. That same financial institution reported that 1,400 principal and interest payments are applied on plans twice per year – in July and December. Their staff formerly reconciled those manually and it would typically take four business days. Now, instead of a record-keeping employee providing the numbers and balances from the systems, eEMS makes the process easy. Another banker depends on the flexibility of eEMS. “eEMS is so flexible it gives us many options for which future projects we want to tackle and I’m satisfied that we are able to cover so much ground with just 12 people in the centralized balance and control reconciliation area, by utilizing this powerful solution.” Utilizing eEMS has allowed banks to add a new layer of control to its operations. Here is just one way in which ProfitStars partnered with a client to help them improve productivity:

Using eEMS, one bank implemented a reconciliation of the transactions processed by their record-keeping system. “The four people that had been manually reconciling the system daily were then free to work on other projects and help us continue to improve productivity and service.” 

In the two and a half years that this bank has utilized eEMS, it has realized an impressive ROI. The manager of corporate trust services states emphatically, “Not only have we kept from hiring FTEs, but by automating processes using eEMS, we’ve been able to improve the speed and accuracy of our operation without adding staff. "