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16/12/2022

Three Things Branch Banking Can Learn from Retail

Branch transformation has been underway for a decade or more, but COVID-19 has thrown fuel on the fire, spiking digital adoption and exposing some of branch banking’s weakest links – tracking ex*****on, scheduling efficiently and facilitating appointments. So, what will the future of branch banking look like?

Prior to the crisis, research from Forrester found that 71 percent of checking accounts and 64 percent of savings accounts were opened in a branch. Additionally, over half of consumers still prefer a bank with local branches. Although branch traffic may continue to decline, branches will be key for more complex sales and services. However, as the downturn continues and banks face more rate and default pressure, many banks will want to cut costs at the branch. Branches will need to be more efficient, effective, and productive than ever

https://yourtechcfo.com/three-things-branch-banking-can-learn-from-retail/

09/12/2022

How the strategic CFO responds, recovers and reimagines

As the epidemic has brought many unpredictable changes, this year is undoubtedly a difficult year for organizations of all types and sizes. While many companies are struggling to gain a foothold, this continuous disruption also provides leaders with room to reimagine, reassess, and rebuild. In this interview series, you will learn how CFOs responded to the epidemic, how their organization recovered, and how they reimagined the future of the organization.

Download this free e-book to learn about the following discussions by chief financial officers of leading companies:

- In the past year, the impact of market disruptions on their companies and how they responded.
- The challenges and opportunities presented by the rapid shift to remote work.
- Their unique insights into the evolution of the CFO’s role.

https://yourtechcfo.com/how-the-strategic-cfo-responds-recovers-and-reimagines/

07/12/2022

Second Annual International Branch Banking Employee Survey

In 2019, as Reflexis (now a Zebra company) was beginning to expand its banking vertical into Europe, we wanted to deepen our understanding of any differences between the issues and challenges in North America and those in Europe. To accomplish that, we developed our First Annual International Branch Banking Employee Survey. Now, as our banking business continues to grow, we want to understand how COVID-19 has changed the branch banking landscape in North America, Europe, and Mexico. So, with the help of SurveyMonkey, so we have now fielded our second annual branch banking survey.

The pandemic has challenged many of our new banking clients with its impact on branch visits and spiking digital adoption. As we continue to work with them, we hear about many of the issues they face, which we wanted to dig into and get more data on.

https://yourtechcfo.com/second-annual-international-branch-banking-employee-survey/

05/12/2022

SUBSCRIPTIONS: GROWTH PROVES ENDURANCE AS NEW CUSTOMER BEHAVIORS ARE CEMENTED

The world witnessed significant changes sparked by the pandemic, and as a result we have changed. In 2020, companies and consumers woke up to the power of digital service models. These services continued to gain momentum in 2021 as the economy began to recover. Our lives are increasingly defined by technology, and technology is increasingly defined by software and complementary services.

This includesbusiness models rooted in recurring customer relationships that users subscribe to, such as ongoing digital services and consumption-based models. As a result, customers have established new habits and behaviors. Subscriptions have provided resilience at key moments of uncertainty, and enthusiasm for these services continues to grow, as seen by the companies that comprise the Subscription Economy Index™(SEI) report. Over the past decade, the Subscription Economy Index has grown 4.6x faster than the S&P 500, which represents more traditional, product-based businesses (compound annual growth rates, or CAGR, for the 10-year period were 17.5% vs. 3.8%,respectively (Table 1)).

https://yourtechcfo.com/subscriptions-growth-proves-endurance-as-new-customer-behaviors-are-cemented/

02/12/2022

3 Ways to Improve Branch Performance with Workforce Optimization Strategies

Over the last few years, bank branches have experienced a significant amount of disruption and pressure.

The behavior of banking customers has been a significant part of this, with many having shifted towards digital and mobile banking tools in recent years. The pandemic accelerated this trend, with a decline in routine banking transactions occurring inside of branches and mobile banking adoption skyrocketing.

While only 43% of those in the U.S. with a smartphone were banking on their mobile devices in 2011, now that number has jumped to 71%. And 39% of banking customers now report using mobile apps as their primary source for banking, up 3% from pre-COVID levels. This causes significant changes in customer traffic to branches, which makes it difficult to accurately identify how much labor you need at your branches.

https://yourtechcfo.com/3-ways-to-improve-branch-performance-with-workforce-optimization-strategies/

29/11/2022

12 data-driven pricing and monetization strategies for b2b

As people consume more and more subscription services in their daily lives, they are more open to (if not expecting) similar models from their business partners. When a product or technology gains transaction in the home, it’s a sure bet that sooner or later it will expand its reach. In other words, the Subscription Economy is everywhere from B2C to B2B. And the numbers prove the point: according to the Subscription Economy Index (SEI), in the past eight years, subscription businesses have grown 400% .

Though not every B2B company is ripe for a transition to subscriptions, there are definitely more that are than aren’t. Making the shift to services requires you to look at your B2B business with fresh eyes. To help, we’re going to take a deep dive into 12 data-driven practices you’ll want to keep in mind as you assess your company’s viability in the Subscription Economy. Six practices that can be adapted from the B2C world (“borrowed” from those companies whose DNA is in selling direct to consumers), and six practices that pose new opportunities specifically for B2B companies.

https://yourtechcfo.com/12-data-driven-pricing-and-monetization-strategies-for-b2b/

25/11/2022

SUBSCRIPTION FINANCE HANDBOOK: BEST PRACTICES FOR BILLING SYSTEM AUTOMATION

SUBSCRIPTION BILLING

The business world is changing. Subscription models are different and more complex animals than the traditional business models we’ve all been used to. That’s true whether you’re looking at interactions with customers or at your own internal business processes and technological supports.

Especially when it comes to billing, moving to a subscription model results in a host of changes, not only to your back office operations, but also for your entire customer lifecycle.

With billing so central to driving business growth, you can’t afford to create friction for your customers by being slow to adapt your business model and practices. The more friction your customers face around billing, the more likely they are to turn away.

In the new post “cost plus” pricing world, automation not only comes with the territory, it is the key to successfully driving business growth.

https://yourtechcfo.com/subscription-finance-handbook-best-practices-for-billing-system-automation/

23/11/2022

THE DEFINITIVE GUIDE TO SUBSCRIPTION BILLING

Subscription billing. Say those words, and people may start to snore. But if you understand how the subscription economy really operates, you know that subscription billing has implications for your entire business. That’s why we get excited — yes, excited! — about subscription billing. It’s not just about the logistics of sending out an invoice and collecting payment. Subscription billing is at the core of subscription businesses, and at the root of the massive changes we are seeing as businesses across all industries shift from a product focus to a relationship focus. Essentially subscription billing is a proxy for communicating value, generating customer engagement, and driving growth.

https://yourtechcfo.com/the-definitive-guide-to-subscription-billing/

21/11/2022

USAGE BASED PRICING IN SUBSCRIPTION BUSINESS

There is more to subscriptions than monthly payment plans

Consumer behavior has changed considerably in one generation. The advent of the internet has accelerated the rate of innovation and in turn has educated consumers to increase their service expectation levels. This holds true across the majority, if not all sectors of the economy. Consumers bring these new expectations to the workplace, impacting B2B exceptions and preferences as well.

To remain competitive in fast-paced environments, companies have opted for various improvements across their product features, supply chains, services offered, but perhaps most noteworthy are those that flip business models on their heads. Along with the emergence of technologies such as Cloud, mobility, and machine learning, these pioneers helped bring about the emergence of a Subscription Economy

https://yourtechcfo.com/usage-based-pricing-in-subscription-business/

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