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Why Choose Plansmith for Your Budgeting and Forecasting Needs?

Posted by Megan Plis on 3/6/23 1:36 PM
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With the increasing number of financial planning software options available, it can be difficult to determine which one is the right fit for your organization. That's why it's essential to consider several key factors before making a decision. In this blog, we'll examine how Plansmith's planning suite stands out from the competition and why it could be the perfect choice for your financial institution.

Reputation and Longevity: With 50 years of experience in the industry, Plansmith has built a solid reputation and a loyal customer base. We currently work with over 1,000 community banks and credit unions. However, in total, we’ve coached thousands of financial managers to gain confidence and make better business decisions through our intuitive software. Our solutions are trusted by examiners and bankers, and we are committed to helping our clients grow and succeed over the long-term.

Focused on the Banking Industry: Unlike other solutions that claim to be "viable" for the community bank and credit union industry, Plansmith is solely focused on the banking sector. Our software is designed specifically to meet the unique needs of financial institutions, with everything you need and nothing you don't, including ease of reporting and compliance. While generalized technology may work in theory, other industries aren’t tasked with the responsibilities expected of community banks and credit unions. Our software and outsourced solutions not only help you check these boxes with ease, but we also offer exam support if you should need it.

Affordable and Easy-to-Use: As many of us at Plansmith are former bankers, we understand that you’re incredibly busy and wear many hats – utilizing our software is only a small portion of your responsibilities. When you go in to budget, forecast, or analyze interest rate risk, it’s important that you can spend your valuable time performing these tasks rather than muddling through cumbersome software. The unfortunate reality is that we speak with Presidents, CEOs, CFOs, and Controllers every day who purchased technology that is too complex, produces inaccurate numbers, is not instinctive, or worse, never even got up and running. That’s why we offer a range of sophisticated-yet-affordable software options, with price points to fit every budget and organizational need. You only pay for what you use, and as you grow, you can upgrade to more advanced solutions with ease. 

White Glove Customer Service: As previously mentioned, many of our team members come from the banking industry; we truly empathize with the unique challenges faced by community banks and credit unions and their leaders. Our exceptional customer service is always available with a real human, no automated support tickets. We can be reached during regular business hours via phone or email, and unlike most companies these days, you’ll quickly get real help with a real expert. Many bankers who come to us express how frustrating and difficult it was to get assistance with their previous software provider. It’s our promise that you’ll never experience those issues with Plansmith.

One-Stop Shop: At Plansmith, we offer a range of planning tools, from budgeting software to ALM/IRR solutions, outsourcing, and advisory services, so you don't have to juggle multiple vendors. Our software incorporates solutions for all of your planning needs, such as dynamic forecasting, risk analysis, cash flow modeling, stress testing, and other liquidity requirements. And, as new requirements, such as CECL have been added, we've added to our partnered and in-house product suite. 

Fits Just Right: With solutions designed to fit your needs at every stage of growth, you have the option to upgrade and unlock additional features as needed. We make upgrades easy, so you can focus on growing your bottom line.

A True Partnership: At Plansmith, we approach our client relationships as a true partnership. Our success is directly tied to the success of our clients, and we are committed to helping community banks and credit unions compete, earn, and grow in an ever-increasingly competitive market.

If you're looking for a trusted and experienced provider of financial planning software that is designed specifically for the banking industry, Plansmith may be the ideal choice for you. With affordable, easy-to-use solutions, and exceptional customer service, we can help you improve your approach to planning. Click here to discuss your organization’s needs with one of our professionals.

Topics: forecasting, budgeting

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