Bank Accounting and Finance System Consulting Services

Many banks and credit unions have outgrown their core’s basic general ledger system and want to upgrade and transform their finance technology and operations.

Cornerstone helps these financial institutions with a high-level review of the various financial system strategies, the F&A processes you want to improve and the bank accounting and finance vendor options. Cornerstone then works collaboratively with your team to build a modernization plan, and to identify which vendors to evaluate as part of your accounting and finance system selection.

When you’re ready to evaluate finance system replacement options, trust the most experienced bank finance system and process consultants with the approach proven across 1,000+ system evaluations.

Our bank finance system subject matter experts (including former bank CFOs) will guide you through the entire process including defining your current and future needs, converting your needs into an RFP, helping you interpret the results, managing the product demonstrations and the follow-up questions, leading the vendor due diligence, building out apples to apples vendor pricing models and getting your team to the right decision(s) for your financial institution.

Cornerstone is the most experienced negotiator in the industry with more than 2,000 contracts negotiated. Our extensive experience and knowledge of the core and best of breed vendor ecosystem enables us to negotiate the most favorable contract pricing and terms for both renewal and replacement contracts.

Our secret weapon is our proprietary Contract Vault™. This AI-driven data engine consists of over 15,000 pricing points collected from negotiating thousands of vendor contracts. Armed with Contract Vault™, our experienced negotiators can confidently negotiate from a position of strength and achieve significant cost savings and add fairness and accountability to the contract.

Cornerstone is the most experienced bank and credit union system conversion and implementation consultants with more than 350 conversions across a wide range of applications including general ledger and financial suites and modules.

Bank accounting and finance system implementations are large undertakings impacting every department in your institution. It’s also an opportunity to modernize your chart of accounts, improve budgeting and forecasting, automate accounts payable, reduce reliance on Excel, use AI to automate reconcilements, etc.. With our help and proprietary tools, we’ll get you through a successful conversion and make sure you realize the benefits of your new F&A systems.

Most financial institutions are still dependent on manual processes in their F&A departments with lots of paper and Excel spreadsheets, leading to delayed reporting, inefficiency, and concerns about accuracy of reporting while making it difficult to scale.

We bring our finance and accounting process and systems expertise together to help clients optimize the value from their existing financial systems without the need for wholesale replacement of all financial systems.

When your team wants to get current on the finance and accounting vendor market or wants Cornerstone’s opinion on your existing financial vendor(s) direction and capabilities, a Cornerstone briefing can be helpful.

In an interactive session, we share candid insights across the entire F&A vendor market and then go deeper on your current vendor, the top 2 financial suite vendors you would likely consider for replacement and the best of breed vendors you’d likely consider for AP, forecasting, recons, etc.