AdvantEdge Analytics Simplifies Daily Financial Performance Monitoring
July 21, 2020
It’s not unusual for credit union executives to begin their days by poring over financial reports. These “morning chores” allow CEOs, CFOs, and other leaders to get a good look at their credit union’s financial health and translate the data to decision-makers.
As credit unions navigate a changing landscape, the data they must interpret becomes more complex. Gathering and analyzing the data is often done manually, which can eat into a credit union leader’s valuable time. And leaders are facing a critical task — identifying which members need help now, as COVID-19 impacts their financial security.
Strategic Link partner, AdvantEdge Analytics, enables credit unions to utilize key data to fuel growth and make strategic operating decisions through its Financial Performance Management platform.
Throughout the pandemic, credit unions using Financial Performance Management have been able to depend on automated dashboards and reports that help them monitor daily loan and deposit performance. This data helps them quickly identify areas where the credit union may be vulnerable and allows them to pinpoint the members most likely to suffer the greatest financial impact from furloughs, business closures, and other changes to the economy.
Not only does the platform automatically combine data from multiple systems for a holistic view of credit union performance, but it does so every single day. This is especially important in the current operating landscape, as making quick decisions based on real-time analytics has become essential for credit unions during COVID-19.
Balancing member and credit union financial wellness is a responsibility leaders prioritize. Access to innovative business intelligence and analytics can make maintaining that balance during this challenging time easier and more efficient.
To learn more about AdvantEdge Analytics’ solution, check out this VantEdge Point webinar, “Act on Indirect Lending Insights to Increase Growth,” hosted by Platform Sales Leader, Keith Dunlap, and Senior Analytics Performance Team Lead, Vicki Potter.