SRM (Strategic Resource Management) has helped more than 1,050 financial institutions add $3.6 billion of value to their bottom line in critical areas such as payments, digital transformation, core processing, artificial intelligence, and operational efficiency. Our decades of experience have lowered costs, enhanced revenues, increased productivity, expanded customer satisfaction, and provided a competitive edge for clients in an environment of constant and accelerating change. Visit www.srmcorp.com for more information and follow the company @SRMCorp.
Below you will find descriptions of SRM’s four primary practice areas: Cost Savings, Revenue Enhancement, Process Automation, and Strategic Consulting, as well as testimonials and case studies from our clients.
Products and Services
Money seldom hides in plain sight. The number of third-party options, variety of pricing models, and pace of market change have made selecting the right fit for vendor services challenging at best. SRM’s cost reduction offerings – including RFP services, vendor scorecards, contract negotiations, and conversion management – can add significant value to the vendor selection process. As the landscape in the industry continues to evolve rapidly, more institutions are engaging to get a free analysis of what our cost saving services can do for their stakeholders.
87% of financial institutions do not have an enterprise payments strategy. SRM’s revenue enhancement offerings – including payment enterprise mapping and gap analysis, revenue opportunity prioritization, and program management – help financial institutions improve their top line and grow their fee income. As digital networks are extended to include new devices and endpoints bring new players and ways to pay into the market, competition for consumer payments will increase exponentially. Financial institutions will need a clear strategy supported by focused programs designed to meet the specific payment needs of consumers. SRM’s payments pedigree is benefiting many of those institutions today.
Artificial intelligence (AI), robotic process automation (RPA), and software that thinks for itself are making it possible for financial institutions to improve operating efficiencies and customer satisfaction. Using tools that target process inefficiencies, SRM prioritizes and implements these technologies to uncover additional ways to save. The margin compression common at most financial institutions make process efficiency a top priority for many. The resulting process efficiencies gained from the SRM engagements that utilize AI, RPA, and enhanced automation have allowed organizations to improve productivity, lower error rates, and improve the top and bottom line.
SRM’s consultants are veterans who have worked for leading brands throughout the industry in areas such as payments, digital banking, core processing, machine automation, and M&A. SRM’s consulting offerings include rapid scan evaluations, vision/goal/strategy definition, playbook development, and project implementation. Too many of the financial institutions we encounter believe they are limited in how they can compete with financial institutions in their marketplaces. New technology combined with the subject matter expertise required to develop a strong strategic foundation is changing the competitive landscape, allowing SRM to help its clients compete with anyone they wish.
SRM’s vendor and advisory services include current state assessment, strategy development, gap analysis, process improvement, RFP management, vendor scoring, industry benchmarking, and contract negotiations. Our team includes industry-leading subject matter experts who have worked for the top companies in financial services, speak at dozens of conferences throughout the year, and are regularly quoted in industry media outlets. SRM helps its clients survive and thrive in an environment of constant and accelerating change.
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What Credit Unions are Saying About SRM
"SRM was easy and professional to work with. Our involvement with SRM has been well worthwhile, with financial benefits that have and will continue to have significant positive impact on our expenses and bottom line." - Jim Doig, President/CEO, Sidney Federal Credit Union, Sidney, NY
“We have 14 areas that we are working through. The first and biggest contract provided savings and financial relief well beyond anything we ever expected. If we saved nothing from the other 13 initiatives, I am still a hero here with my CEO and the Board and the rest of the senior team. I am a FAN of SRM.” - Keith Malbrue, CIO, Affinity Plus Federal Credit Union, St. Paul, MN
“I don’t think people realize how much money SRM can actually generate. Just the first project made a huge difference to our bottom line.” - Todd Brown, Chief Financial Officer, Teachers Credit Union, South Bend, IN
"Our experience was positive. The branding project delivered exactly what SRM said it would.” - Rich Arnold, Vice President of Finance, Capital Educators Credit Union, Meridian, ID