Incentive Plans (Free Webinar)

Hello Friends;

Does your institution include goals / incentives to enhance sales and growth? Have you considered implementing a program?

If yes to either question above, how do you or how will you manage the program? Let me suggest 360 View! To learn more about Goals and Incentives we are providing a free Webinar on August 19, 2008 @ 1:00 CST – click this link to register http://www.threesixtyview.com/webinar360.cfm.

Here are some specifics:

Set the Right Goals and Thresholds

• Analyze the top 15-20% of staff to identify appropriate goals for the majority of employees involved.
• Be careful of subjective criteria as disqualifiers (e.g. Mystery Shops, etc.).
• Consider team-based plans, individual plans or both.

Let Corporate Strategy Drive the Plan

• Ensure incentives match profitable products/lines of business and current goals.
• Define the focus of the annual plan. Does the incentive plan match the corporate strategy?

Provide Meaningful Rewards

• Remember cash or other incentives must be meaningful to employees.
• Ask yourself if the dollar amount is too low.
• Consider time off and recognition as ways to reward.
• Ask employees what types of incentives are meaningful to them.

Keep it Simple!

• Let employees know what they need to do to both meet and exceed expectations, AND what that means in terms of incentive.
• Remember that overcomplicated plans confuse employees and don’t help change behavior.

Once you have the right plan in place, you still have one final hurdle to jump–you must create an efficient means of tracking and reporting results so that employees can see their incentive rewards at any time. Waiting weeks or even months to determine if a referral sent has closed or resulted in new business is no longer acceptable. The latest breed of CRM solutions has finally made this process manageable. Other stand alone incentive systems with CRM “lite” features are also good, but often lack the overall tracking and integration of current CRMs.

 

The right incentive plan can drive your bank to the right results by growing core deposits, retaining your most profitable customers, promoting the cross-sell of the right services to the right customer, and creating team unity, but you must plan carefully and put the right tracking system in place to ensure your best laid plans don’t go awry.

KA

Who is Kevin?

Hello Friends;

I was talking with some banking friends recently and we were marveling at the progression of technology over the past 30 years. Then I realized most reading this blog isnt aware of my background, so let me catch you up:

I began my journey working for Third National Bank in June of 1982, starting with the fabulous trade of driving checks to and from Fed Nashville – Picking up and processing returns – running checks through the IBM sorter – then balancing on the CICS system.

Joined Williamson County Bank in 1984 and helped build their initial Data Processing department – then was promoted to DP Manager – while also managing the remote processing of ATM’s, Checks, and remote printing.

WCB was acquired in 1987 by Commerce Union Bank, where I transferred and began managing a shift in the transit department (very short stint).

Was hired by a multi-bank holding company to build their data processing services using the ITI core application in May 1988 – worked with current inBiz partner (Terry Bellenfant) to convert all the data from 2 unique core systems into inhouse ITI core system – acquisitions of other banks / branches required additional conversions over the next 4 years.

With a joint partnership in 1993, Terry and I started an ITI Core data processing company with the sole purpose of attracting other banks allowing us to become their data processing outsource provider – after signing and converting more than 20 institutions, hiring more than 20 employees it was time to move on to a less stressful opportunity in life.

In 2000, I began consulting with several institutions as an independent contractor in the arena of technology, disaster planning, operational controls, and of course conversion assistance – with many opportunities seen to build software solutions to bridge core processing system gaps – Woohoo – inBusiness Services was founded to do just that – March 2001 was the incorporation date and just the beginning of many great things – currently more than 100 product contracts on file and growing each week.

So – all this and I am only 29 years old??? Ok – maybe not:)

Over the next month or so, I will try and lay out the technology changes I have seen and still marvel at.

Have a very blessed day!

KA

Preparing for 3rd / 4th Quarter of 2008

Hello Friends;

July 14th – wow – that means we are already in the 3rd quarter of 2008 and in the middle of a beautiful summer season. College & Pro Football is around the corner too:)

Here at inBusiness Services, we are preparing for a spectacular 2nd half of 2008 – especially since more financial institutions are hearing about the successes they will achieve in 360 View. We certainly make efforts to contact prospects, but it is so cool when someone calls us because of a peer success referral. This makes my day!

I look forward to speaking with you soon.

Kevin A.

360 View CRM (banking CRM)

Hello Friends;

Many of you have heard me refer to Post-it CRM and the comparison to lost opportunities because of this manual process. I thought sharing the below might be cool for you to read;

Earlier this year I was meeting with a group of bankers and brought this fact up and made mention that 360 View is a perfect replacement for Post-it note CRM – and the CEO politely raised his hand and made this very bold comment “for years I have struggled keeping track of what we were really doing and many times I was informed that it was being taken care of” he then went on to say “and many of you in this room know the client really isnt being taken care of”. He then asked a question to his group “If I approve moving us to technology will it get used?” and a couple executives in the room looked somewhat confused on how to answer this question and in my opinion wasnt sure how to answer. Then an experienced female employee raised her hand and told the CEO that her department had struggled for years keeping track of customer requests and knew they had failed to deliver the standard she personally desired and then went on to say “Sir, I know this is stepping out on a limb, but many in this room agree we need to perform better and respond faster than ever before and our current way isnt working”. Then the HR Director asked the question – “can 360 View help me manage our goals and incentive plan because I am spending 10-20 hours a week pulling reports?”. The absolute answer was YES. Back to the quiet executives, mostly in loans; A gentleman asked about the process of improving his pipeline reporting and when showing this feature to him he was then convinced as well and then the flood gates opened to questions and dialog about how this 360 View system would begin saving them thousands of dollars just in people time. Finally the marketing director asked me to conduct a quick list of customers based on unique criteria and literally within a minute I had built the list for her, which included cross referencing of loans to deposits to bill pay to insurance….

Ultimately, this bank signed and is strategically deploying 360 View in a manner that each department / employee group will save hundreds of hours per year while increasing the service level to their biggest asset – Their Customers.

I write the above example only to show 360 View wasnt built for a single department or employee, it was developed to make your institution stronger, more productive, and ultimately much more profitable!!

Want to know more? Give me a call at 615-242-0007.

Kevin Anderson

inBusiness release 2008 SR1 / Whiteboard

Hello Friends;

inBusiness Services is releasing the 360 View version 2008 SR1 and I can happily say it includes client based enhancements to a couple areas that I am sure they will be proud to utilize.

Each year we add / modify / improve the 360 View suite of products and services such as CRM, Past Due, and Overdrafts based on industry changes that are seen by our clients and sometimes via prospect presentations (a good idea is a good idea no matter where it originated from). We accumulate these good ideas and prioritize them for review with our WhiteBoard Committee (made up of clients) so we can quickly plan implementation within 360 View.

Keeping this post short, I will say 2008 release year may be the most cool to date with features and design changes requested by you – so thanks much for all you do!

Talk Soon,

KA

Vacation, Technology, and Catching Up

I am sure many people are like myself when it comes to being away from the office – the return provides several catch up opportunities. I have to admit the Blackberry access makes this somewhat simpler on the catching up part but it also puts you in a situation where you arent truly taking advantage of a planned “vacation”.

Many of us fall prey to staying connected 24/7/365 – and have altered vacation expectations for ourselves accordingly.

In any event, it was great spending nine days in Ft Lauderdale with limited plans to actually do anything.. especially great hanging out with Vicky (wife), Brandon / Kevin Kyle (Sons), and Jen (Daughter via marriage to son KKA).

KA

Memorial Weekend

For many – the mention of Memorial Day (Weekend) means a day away from the office, a long weekend, a discounted shopping day, a family cookout, or just a time of rest.

Others look at this special day for what the intent really is – a day to remember the men and women that have served our country by putting their lives at the faith/trust of our leaders and then accomplishing whatever task is provided to them, even if it places them in harms way.

I would like to take this opportunity to simply say Thank You to all of our service men and women – past / present / future – for all you have done, are doing, and will do for this great United States of America.

Have a great and respectful Memorial Day everyone!

KA

Four Months of 2008

This has been a crazy great January-April for inBusiness Services.  To date we have exceeded many milestones and also far exceeded early budget projections, which puts us on pace for almost 100% growth in 2008 compared to 2007 – WOW and thanks to all!

Recently we have been blessed to have included new clients from several new states as well as repeat states (combined the recent clients exceed 12 Billion Assets).  We are asked often by new prospects what we are doing and the simple answer is working hard, listening, and understanding that blessings are being sent our way.

Thanks for checking in.

KA

 

 

 

Huge Thank You!

Hello Friends;

This past week during “The View 08′”, which was our 2008 360 View users conference, we had representatives from more than 40 individual institutions that included in excess of 20 unique states.  inBusiness Services was very blessed to have great weather for all in attendance to enjoy while also scheduling a solid agenda with great entertainment at the Ford Theater located in the Country Music Hall of Fame. Tom Kimmel and Don Henry were fantastic with Heather Reed, inBiz office manager, blowing the roof off with her singing performance!

Our inBusiness team worked very hard to put everything together – Thanks to our Employees!

Clients – Please accept this as a Big Thanks for investing your time to visit Nashville, TN to learn more about us and to meet other 360 View partners.

KA

Can You Say –> Success!

Hello Friends;

For many reasons, 2008 is fast becoming a year at inBusiness to be remembered.

First and foremost; the continued success of 360 View may be unmatched in the financial institution industry based on the increased ROI being reported by our clients.  Exceeding 300% is great for an institution in 18 months but what about exceeding 500% – pretty cool huh..  

Secondly; the continued maturity and growth of 360 View as a service tool is incredible and with continued client led enhancements each year we will continue distancing ourselves from the competition. 

Lastly (for this post anyways); the addition of new clients each and every month.  YTD we have added more than Ten Billion new assets to our client team total and project to add another Twenty Billion + by 4th Quarter.  Overall we now exceed Forty Five Billion in client assets and project to surpass Seventy Billion very soon.  Yes, we are being blessed!

From a 360 View sales and marketing perspective – a combination of good people in Joyce Colin and David Acevedo with the continued support being the ICBA’s Preferred Service Provider (PSP) of CRM technology - we are being noticed and look forward to sharing 360 View with you soon.

Take Care!

KA