If your organization’s technology spending falls into the typical 10 to 15 percent of your total operating budget, you are surely looking for ways to optimize your technology spending while also meeting the needs of technology savvy customers, demanding regulators, and both internal and external stakeholders.
Enter Cornerstone Advisors. Cornerstone recognizes that in today’s challenging financial services environment, the right technology solutions along with a level of financial investment commensurate with your institution’s size, complexity and future growth needs is a critical enabler of your ongoing success. We can help you achieve these objectives.
The Benefits to You
Cornerstone’s Technology Assessment provides your organization with pragmatic recommendations of how to more effectively leverage your investment in technology and bring your organization’s overall technology management to best practice levels. As part of the Technology Assessment, you’ll gain these and other benefits:
- A comprehensive analysis of your organization’s software applications and infrastructure
- Reliable staffing and spending benchmarking data from a customized Cornerstone Scorecard® that will help you in making critical decisions
- A clear understanding of technology needs and priorities for the future
- Recommendations for optimal staffing levels and skill set requirements
- Alignment of your I.T. governance and management processes with the needs of the institution
The Cornerstone Differentiation
- Highly Experienced Technology Team - Our team includes skilled financial industry and technology professionals with CTO, CIO and senior level operations experience. As a result of hundreds of system selection, contract negotiation and technology planning engagements over the years, we live and breathe technology.
- Vendor Knowledge - Our in-depth familiarity with the strengths and weaknesses of a wide range of vendor products has earned Cornerstone a reputation as the leading expert on the vendor market.
- Proprietary Benchmarking Database - Our proprietary technology database, the result of a decades-long focus exclusively on the financial services industry, means we’re the only firm that can apply this level of analysis to the creation of a customized Technology Scorecard® for your organization.
- Strategic Approach and Operational Execution - Cornerstone’s comprehensive capabilities in strategic planning, technology best practices, financial services operations and process improvement allow us to approach every Technology Assessment at both the strategic and operational level. This ensures that our recommendations are aligned with your strategic business requirements and can be executed operationally.
We’ve Done This Before
Here are just a few examples of work Cornerstone has performed in this area:
- Midwest bank ($11 billion) – Comprehensive Technology Assessment with alternative core vendor review and I.T. staffing review
- Northwest bank ($2 billion) – Technology Assessment with emphasis on I.T. governance, process and project management
- Northeast savings bank ($700 million) – Technology and Infrastructure Assessment
- Midwest bank ($2.5 billion) – Comprehensive Technology Assessment with alternative core vendor review and contract negotiation
- Northeast savings bank ($2 billion) – Comprehensive Technology Assessment with emphasis on ancillary systems and contract negotiation
- Southeast bank ($740 million) – Technology Assessment with emphasis on technology spending and process
- Midwest bank ($6 billion) –Comprehensive Technology Assessment and I.T. benchmarking for “home-grown” system and shared services environment with alternative core vendor review
- Midwest savings bank ($500 million) – Technology Assessment with emphasis on I.T. spending and functionality requirements
- Southwest credit union ($3 billion) – Comprehensive Technology Assessment and alternative core vendor review for “home-grown” system environment with focus on integration, staffing and product development
- Midwest credit union ($450 million) – Technology Assessment with emphasis on I.T. organization review and process
- Northwest credit union ($1 billion) – Technology Assessment with emphasis on core system upgrade implications
- Midwest credit union ($1 billion) – Comprehensive Technology Assessment with alternative core vendor review