REVIEWER: Sabrina R. Heginbotham, VP of finance for First National Bank Texas.

BACKGROUND: First National Bank Texas (FNBT) is located in Killeen, Texas, and was established in 1901. FNBT opened its first in-store location in 1994 and has grown to 166 in-store locations and eight freestanding locations throughout Texas.

PLATFORMS: Terminal services Sequel Server, Microsoft Windows 2000 operating system.

PROBLEM SOLVED: Due to the number of branches we acquired in 2004, we needed to find a budgeting and reporting software that would allow more functionality and ease of use. We currently prepare a detailed budget for approximately 350 departments and branches.

PRODUCT FUNCTIONALITY: We mainly use the reporting module feature. The reporting functions allow a great number of ad hoc reporting. Currently, we are able to produce detailed reports several different ways, such as existing versus expansion, by line of business and by region or district. The dimensionality of the system allows for constant change. Departments can be moved from one region to another with the click of a button, and accounts can be combined without having to put every single account on the report. Reports that would have taken a week with our previous system now take a day. We also use the budgeting module. We prepare a detailed bottom-up budget. With this much detail in approximately 350 departments and branches, ease of use and timeliness were of utmost importance. Our previous system took more than an hour to run the budget process. SRC takes less than 15 minutes. Global assumptions are used in SRC to allow for major assumptions to be changed in one place to affect all appropriate centers. The most important part of the budgeting system is the HR planning. We currently have more than 2,100 full-time equivalents. By importing information from our ADP system, we were able to have the current employees budgeted without manual entry. Additions to staff were then added and benefits were calculated based on historical data. Another important aspect of the budgeting system is the DeNovo (new branch) budgeting, which allows us to add new branches to the budget and then change their opening date with a change to the global assumptions.

STRENGTHS: The SRC system has many strengths. First, because it has the look and feel of Excel, it is not as intimidating as a new system. Also, you have the column and row functionality of Excel for complex reports. Second, the flexibility of reporting is a major strength. SRC allows you to create a report for one center, multiple centers, or an entire company for one-time series or multiple-time series. Third, the budgeting module allows complete customization. A budget workbook is built specifically for each department, which allows for detail budgeting in personnel, capital, balance sheet and income statement items.

WEAKNESSES: All accounts are assigned an SPM (Standard Planning Methodology). Once these methodologies are built, they are interfaced into each budget workbook for the assigned accounts. If there is a formula problem within the SPM, a utility can be built by SRC to fix it. However, if the entire SPM needs to be rebuilt, the SPM in every department budget workbook must be replaced.

SELECTION CRITERIA: Before SRC, we were preparing the HR budget manually through Excel. We desperately needed to find a more automated process for the HR planning. We were also in dire need of a more robust reporting system. We needed the ability to run various ad hoc reports and better distribute these reports electronically. SRC allows us to create numerous reports and distribute them via e-mail, allowing us to reduce costs of printing.

DELIVERABLES: We currently import financial and statistical data in the SRC system. We are able to produce reports from this data for executive and departmental management. We also completely produced our budget package from the system, from the calculations of the financial and statistical data to the package issued to the owner.

VENDOR SUPPORT: SRC provides and employs an excellent support department. They are informative and follow up on issues to make sure they are resolved. SRC is also open to new ideas and suggestions.

DOCUMENTATION: The documentation leaves something to be desired for the layperson. The system is very robust and involves so much programming that live one-on-one or group training is required.

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