2022 has been a bloodbath on Wall Street. Bear traps are everywhere. We all feel it…and it hurts. Geopolitical issues shock the conscience. Threat of a recession. High interest rates. Through it all, Bank, Insurance and Wealth Management decision-makers have face increased pressure to focus on three fundamental strategic priorities – Business Growth, Cost Reduction, and Risk Reduction – to accelerate digital transformation. If your technology partner is unable to clearly align how IT investments help with one of these three strategic priorities and metrics, what’s the point in proceeding forward?
When assessing your IT investments, these are some of the most important business value success metrics you should be utilizing to make doing business easier for your customers.
- Employee Productivity – productivity savings, increased client meetings, improved advisor productivity
- Cost Savings – reduction in cost of sale, shorter and more efficient meetings, reduction in telecom spend
- Customer Satisfaction – improvement in customer net satisfaction, telephony improvement with phone in branch connected to contact center
- Net Promoter Score – increased NPS scores when customers interact with video enhanced channels
- Sales Conversion – increased mortgage business, sales increase in payments/cash management, increased branch account deposits
- Cross-Sell/Up-Sell – more in-depth customer conversations from one product discussion to three and more