As a financial leader, you’re no stranger to balancing strategy, compliance, and performance. But if there’s one task that continues to demand more of your time than it should, it’s likely CECL reporting.
You’re not alone. Across the country, CFOs, controllers, and entire CECL committees are hitting a breaking point with their current CECL solutions, especially as the original wave of contract renewals comes due. If you’re stuck wrestling with expensive, clunky platforms, endless spreadsheets, and reporting tools that seem more confusing than helpful, this might be the best opportunity you’ll get to reassess.
Here’s why now is the right time to take a closer look, and why so many financial institutions are making the switch to Plansmith’s all-in-one CECL solution.
CECL was never supposed to be a full-time job. Yet, for many, it’s become exactly that. And don't forget the immense financial investment - later proven unneeded when loan-level detail wasn't required.
Financial institutions that rushed to adopt early CECL solutions – often under tight deadlines – are now living with the consequences. Manual data entry, overly complex interfaces, opaque calculations, and slow reporting cycles have turned what should be a nominal compliance function into a monthly burden. And with examiners expecting ever-greater clarity and transparency, the stakes are only getting higher.
The question is: Do you really want to renew another year of that?
It’s Time for a New Beginning
Many financial institutions are facing a critical decision right now: stick with the familiar, or upgrade to something better?
If your CECL solution has become a source of stress, delays, or confusion, you don’t need to wait until the next exam to fix it. You can choose a solution that actually lives up to CECL’s promise: streamlined, data-driven insight into credit risk – without the headaches.
At Plansmith, we built our CECL platform to specifically solve your current pain points and proactively manage future complexities. Without the hefty price tag, and without the data deluge to weigh you down.
Plansmith’s CECL Solution: Compliance Without the Compromise
Let’s face it – most CECL platforms weren’t designed for day-to-day use by real financial leaders.
With Plansmith, you get:
✔ Effortless Automation
CECL shouldn’t require a spreadsheet bootcamp. Our platform automates at least 80% of the process, freeing your team to focus on analysis, not data entry.
✔ Examiner-Ready Reporting in Minutes
You shouldn’t need to decipher your own CECL reports. Plansmith’s clear, intuitive output gives you everything you need for your board, your auditors, and your examiners – fast.
✔ An Interface That Doesn’t Make You Think Twice
Complex doesn’t mean powerful. We believe software should work for you, not the other way around. Our web-based platform is clean, simple, and accessible anytime, anywhere.
✔ A Transition Process You’ll Actually Appreciate
Worried about switching from your current provider? Don’t be. We’ve made implementation easy, with full support and guidance to get you up and running quickly without disruption.
Built for Financial Institutions Like Yours
Whether you’re managing a community bank, a credit union, or a mid-sized institution, Plansmith’s CECL platform scales to your needs. It’s affordable, easy to implement, and grounded in best practices. Our solution uses the trusted WARM (Weighted Average Remaining Maturity) Method, incorporates institution-specific historical data, includes economic forecasts and peer comparisons, and is backed by professional CPA guidance.
In short: it does what you need, the way you need it, with none of the extra noise, at a price you can afford.
Hear What the Experts Are Saying
Want to see how Plansmith’s CECL solution performs in the real world? Watch our on-demand webinar, where three industry professionals walk through common compliance scenarios, answer audience questions, and demonstrate the actual benefits of using our platform. It’s a must-watch for any financial leader seriously evaluating their next move.
Don’t Renew Frustration. Choose Simplicity.
CECL compliance shouldn’t drain your time or test your patience. If your current system feels like more hassle than help, it’s time to consider a better option.
Click here to schedule a discussion of your needs today.