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HPS is a completely turnkey solution.
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HPS does not require dedicated project or tech staff.
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CorePROFIT ensures reconciliation of all results to the bank's general ledger.
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A listing of the many banks and credit unions that have benefited from CorePROFIT’s hosted profitability solution, as well as a set of sample reports and other deliverables can be provided upon request.
Please contact CorePROFIT to receive additional information about this solution.
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The ability to understand customer/member profitability behavior has become a “must have” business requirement. Customer/member profitability information is the foundation to understanding how to maximize a bank’s or credit union’s profitability and is essential to help gain full value from CRM, sales automation, service improvement and other marketing initiatives.
Every bank and credit union needs dependable and usable profitability information but many lack the time, budget or resources to generate and use it. CorePROFIT’s HPS solution eliminates the costly technical and analytical infrastructure required by in-house software by providing a completely end-to-end profitability solution without sacrificing the flexibility, availability or quality of information.
CorePROFIT’s HPS is a completely turnkey solution that involves business needs identification, development of behavior-based costs, initialization of profitability methods (FTP, Loan Loss, etc.), assistance with data extracts and processing of profitability data at the account, customer/member, product and line-of-business levels.
In addition, the HPS solution does not require dedicated project or technology staff in order to “go live” and the solution can usually be implemented in a few short months at most banks or credit unions. For those banks or credit unions that have implemented a line-of-business or product profitability application, CorePROFIT’s HPS can be implemented simultaneously to produce customer/member-level profitability reports and insights.
A key additional feature of the HPS is the delivery and syndication of profitability reports and analyses. CorePROFIT will ensure reconciliation of all results to the bank’s general ledger and will also ensure that all levels of senior management trust and use the reports and profitability improvement observations.
In short, the HPS solution can assist a bank or credit union to go from thinking about best-in-class profitability data to using best-in-class profitability information for either a specific line-of-business or for the entire enterprise in a matter of months – at a fraction of the cost of less comprehensive in-house applications and with none of the associated risks.
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