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ProfitStars introduces profitability reporting services
MONETT, Mo. (12/7/10)--ProfitStars, a division of Jack Henry & Associates Inc., has introduced Relationship Profitability Management (RPM) Reporting Services, which it said will help its financial institution clients increase the impact of their most profitable members and customers. RPM Reporting Services is an extension of ProfitStars’ RPM enterprise-wide data management solution. The new service provides ongoing reporting and analysis of key performance indicators, including insights into customer/member, officer and product profitability. The service extracts data from any core-application system and uses business rules to appropriately margin, credit risk and expenses among customer accounts. Each quarter, financial institutions receive 18 reports that document the profitability of customers/members, officers and products. This service also provides trend reporting on the institution’s current profitability situation with profitability improvements insights, and includes a quarterly presentation of these reports and findings by a ProfitStars profitability consultant. “All financial institutions, regardless of their asset size or charter, typically generate the majority of their profits from a select group of customers,” said David Foss, president of ProfitStars. “We believe the financial institutions that will weather the down economy and prosper during the next few years must pay careful, regular attention to the customers, officers, and products that contribute the most profitability. Our RPM Reporting Services will help banks and credit unions identify specific, practical opportunities for revenue and profitability improvements enterprise-wide.” ProfitStars recently launched its Budgeting and Profitability Online Knowledge Center as a centralized resource to assist financial institutions with enhancing performance and assessing the inherent risks associated with budgeting and profitability. The microsite provides ProfitStars’ customers and prospects access to information that helps them assess their business objectives and develop strategies to improve operations, competitive advantages and financial performance. Site visitors can uncover the hidden profit potential in asset-liability tracking, net interest margin improvements, and more effective budgeting, the company said.
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