It is extremely hard not to run into a Current Expected Credit Loss (CECL) article, webinar or whitepaper these days! This new FASB standard has a lot of financial institutions looking for answers and consultants anywhere they can find them, and some institutions do seem a bit overwhelmed—and rightfully so. Back in 2015, Deloitte conducted a survey of hundreds of U.S.-based banks and asked them about concerns around CECL. Concerns that made it to the top included:
At the CBA LIVE conference this week, the theme you see everywhere is to go “beyond the bank”. This made me ask the question, “What is it that we think is the “beyond” when it comes to banking?”.
When introducing a new software solution to your workplace, providing plenty of resources, training opportunities, and ongoing help to employees is paramount to a successful transition.
Staff training will ensure employees feel engaged and included in the process and implementation of new software. Training will also help you fully realize the software's capabilities, and employee input during training will shed light on a plethora of unique scenarios and applications of the new system.
Before implementing new software, be sure you have a well-planned training strategy in place.