There is an enormous amount of money spent by financial institutions every year in excess labor costs. A perfect example of excess labor cost at a bank is having too many tellers at any given time working in a branch. How does a bank know if it has too many tellers? It is simple, in most cases if there is nobody waiting in line… then you have too many tellers. Unfortunately, it is common to not have an account holder in front of all the tellers in the teller-line . This is frusterating to see, but many see it as an unavoidable expense. “How am I suppose to schedule tellers based on demand?”

There are actually teller scheduling software programs that accomplish this for retail banking operations by scheduling tellers from historic transaction volumes. Financial institutions have saved millions doing this. Below are teller efficiency software attributes that you should look for when sourcing this type of software.

• Rapid Deployed Outsourced Solution
• Actionable Business Intelligence Information: A program that provides the exact decision-support information you need to establish teller-line productivity accountability – leading to a reduction in the average cost per transaction processed.
• An Effective Teller Scheduling Engine that is a powerful, yet easy-to-use, web-based system that creates optimum work schedules — matching employee work preferences with account holder traffic patterns at your branch.
• Peer-To-Peer Comparable Performance Benchmark Data that guides and encourages both financial and operational performance improvement.
• A Proprietary Assessment and Analysis Tools that drive a reduction in operating expenses (sometimes in the millions) such as,our workflow utilization reports, our excess-waiting-for-work analysis and our hours of operations assessment.
• Identify Teller Coaching Opportunities: Tellers will be motivated to excel and be appreciative of the targeted coaching, resulting in a significant improvement in their productivity and service levels.
• A Complimentary Evaluation Trial is where the prospect is able to test drive TMS for 30-days, using their actual data for no cost and before signing a contract.
• A Bottom Line Performance Driven Program in many cases has produced less than a one-year payback. For example, 8 out of 10 new clients have been able to have a positive net cash flow from the first day after signing our contract by eliminating the required number of current outstanding teller requisitions.
• Retail Banking Workforce Management Expertise: An exclusive focus on the financial institution, which allows an intimate knowledge of clients and the metrics that are important to bank and credit union managers.
• World-Class Customer Support and Service Efforts