CHICAGO – July 29, 2020 – Syntellis Performance Solutions, a leading provider of enterprise performance management (EPM) software, data, and analytics solutions announced today a relationship with Fiserv, Inc. designed to further empower financial institutions with a robust forecasting and budgeting solution to guide financial business decisions.
Profitable growth requires risk, and scenario planning can help financial institutions understand and effectively manage those risks to maximize profitability.
By creating “what-if” scenario analyses to inform reforecasting, finance teams can illustrate how changes in business drivers may affect the budget. Modeling different sets of conditions can assist in guiding budget and strategy decisions.
Watch Brad Brockman, Senior Solutions Engineer, demonstrate how Axiom Incentive Compensation Management (ICM) helps financial institutions:
Jeff Truitt is a Product Manager, with a focus on financial institutions. He directs design and development of Axiom software solutions, building in best practices for banks, credit unions, and farm credit associations.
Mr. Truitt has 10 years of experience implementing and administrating software and database systems, including several years in the financial industry. Prior to joining Syntellis, he was a Senior Financial Analyst at BCU, where he led the implementation of Axiom Software’s funds transfer pricing, organizational profitability, customer account profitability, and incentive compensation management solutions. Mr. Truitt utilized the profitability system to support decision making across the organization, including acquisitions, new branch openings, product feature changes, and capital investments. Prior to BCU, he worked in the telecommunications industry conducting financial analyses and administration of various databases. Earlier in his career, Mr. Truitt worked at a startup CRM software company, where he was responsible for implementations, customer service, and training.
Mr. Truitt received his M.B.A. from the University of Illinois, and his B.S. in Finance from the University of Kansas.
A difficult rate environment and unprecedented competition created high levels of uncertainty around financial institution performance in the year leading up to the COVID-19 outbreak. Now, extreme volatility in the financial markets — with wild intra-day swings in market indices and stock prices — along with high levels of other negative economic data (i.e., increase in unemployment) present new challenges for leaders in the banking industry, leaving some with more questions than answers.
