ERA telecommunications experts reduce bank’s costs by 42%

Better bottom line increases shareholder value

 

The client is a regional bank in the greater Boston area that retained Expense Reduction Analysts (ERA) to help improve its bottom line in preparation for a potential sale. As a long established community financial institution, the bank was keenly aware of its obligation to secure the best possible price for its shareholders.

One of the areas in need of a major overhaul was the bank’s multi-branch telecommunications systems. The technology was old and the costs were high. Using their industry knowledge, ERA telecommunications experts evaluated different technologies and presented the client with a number of savings solutions from which to choose.

The bank decided to implement a combination of solutions that reduced costs while increasing capabilities. As with all ERA projects, Consultants helped implement the new system, monitored results and reviewed invoices for accuracy — an activity in which industry knowledge is an advantage.

ERA also reduced the bank's expenses for equipment maintenance (ATM's) reprographics, and health insurance.

 

 

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