Plansmith Blog

Stop Budgeting and Start Planning

Posted by Craig Hartman on 1/17/20 9:16 AM

Most of us have been building annual budgets forever. First on paper spreadsheets, then with electronic spreadsheet like Excel, and now with software budgeting tools that amount to little more than more convenient spreadsheets. But a budget is typically all numeric built with trending and last year’s information. Usually the CEO provides a growth and earnings expectation and we build the budget to make the math work. If you have a system that can also provide rate risk analysis and draw detailed data from your core system, you really have a great system. So, what’s the problem?

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Turn Your Budget into Action

Posted by Bill Smith on 1/9/20 11:05 AM

A budget without a Playbook is just numbers on a page.

You know what your targets are but you also need to define how you will get there.  A Playbook defines the actions needed for success, and the people who will manage the process.

But many managers say they just don’t have the time or resources.

Plansmith’s Playbook is a simple online platform to help you create clearly defined initiatives, track progress, and reach your targets by creating an action plan for your budget.

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Plansmith: Budgeting, Asset Liability Management, CECL & Strategy

Posted by Megan Plis Knapp on 12/12/19 11:33 AM

For almost 50 years, Plansmith has helped financial institutions remove the stress from budgeting and interest rate risk.

As customer preferences and regulatory challenges progress, we create new solutions to complement our core in-house budgeting and IRR solutions.

Are you familiar with all of the ways Plansmith helps financial institutions like yours?

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Compass 2-Day Event: What to Expect if You Attend!

Posted by Jennifer Mello on 12/2/19 8:43 AM

Technology is a beautiful thing. It allows people to seamlessly engage in business interactions from thousands of miles away. It helps strangers grow real, meaningful relationships. It bolsters professionalism and deepens client/company relations.

However, we find it can leave you feeling like something’s missing.

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The Real Reasons to Outsource Your IRR

Posted by Dave Wicklund on 10/15/19 11:01 AM

As you grow, your organization has more and more things to manage.

  • Strategically, you’re working to find the right markets to penetrate with the ideal products and services.
  • Financially, you’re making sure your earnings are meeting or exceeding targets.
  • And organizationally, you’re looking for the right talent to expand and grow.

One thing you can’t ignore is the role Interest Rate Risk plays in the banking industry today.

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One Less Thing to Worry About

Posted by Megan Plis Knapp on 10/9/19 4:59 PM

After almost 50 years in the biz, we've learned a thing or two about banking. And since most of our employees have spent time in the industry, we know the heavy hitters that keep bankers up at night.

That's why we designed our business around one specific goal: giving our clients one less thing to worry about.

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3 Activities to Start ASAP this Fall

Posted by Sue West on 9/23/19 11:32 AM

Oh, Autumn. The changing of the leaves, the crispness of the morning air... and the crunching of numbers?

Yep. We're bankers. It's what we do. And fall, it's the perfect time for some of our favorite - and most crucial - banking activities.

Here are the 3 game-changing activities Plansmith recommends starting as early as possible in the fall:

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We've Walked in Your Shoes

Posted by Megan Plis Knapp on 9/20/19 2:35 PM

Running a successful business, like anything worthwhile in life, is difficult. Of course, the same can be said for operating a bank or credit union.

There's never enough time in a day to get everything done. The amount of work per number of hands to accomplish it isn't equitable. The number of new regulations versus training bandwidth is not even close to on par.

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The Worst Budgeting Advice We've Ever Heard

Posted by Megan Plis Knapp on 8/1/19 8:08 AM

For almost 50 years, Plansmith has helped financial institutions become better organizations through improved planning. In that time, we've heard a lot of industry chatter - much of it a load of, dare we say, bologna.

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5 Ways Plansmith Simplifies Your Budgeting Process

Posted by Brett Hendricks on 7/8/19 9:35 AM

For most banks and credit unions the annual budgeting process is just that, a “process” that is far from looked forward to.

The CFO gathers data and input from market managers and department heads. The President and CEO then hand down more information as well as targets and objectives that rarely align with the other information. It's then the CFO's and finance team's job to cobble it all together, make it balance, and deliver results to the Board for approval.

As anyone who has been through it knows, the process itself is not cut and dry. To be honest, it can be downright exhausting.

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