Envision Credit Union Achieves 178% ROI with Financial Performance Management Software

Improves productivity and reduces labor costs with rapid six-month payback

BOSTON – March 24, 2009 – Nucleus Research analysts have independently examined the deployment of IBM Cognos TM1 software at Envision Credit Union to find a rapid return on investment (ROI) of 178% with payback in six months time.

Envision is a 31,500 member not-for-profit credit union serving a six country area in Florida, operating eight branches and 13 ATMs in and around Tallahassee. The credit union provides deposit, ATM and lending services. In 2006, the organization hired a new CFO with a directive to modernize the accounting and finance functions.

Envision selected IBM Cognos TM1 based on cost advantages and its ability to generate reports based on real-time data as opposed to batch reports. The TM1 deployment has enabled Envision to reduce its administrative costs by automating processes and increase productivity by creating standardized and customized reports to replace hand-coded spreadsheets based on hard-copy printouts from the mainframe. Further, Envision has been able to increase the average amount of overnight cash investments by reducing currency balances and has dramatically improved visibility without adding headcount.

“The Envision deployment is part of a growing trend Nucleus is seeing, where more mid-sized organizations are being aggressive with – rather than intimidated by – BI. The ROI was high on this deployment because they didn’t just replace an old system and get rid of labor-intensive workflows, they also analyzed how they were using investable assets and increased the ROI on their capital” said David O’Connell, senior analyst, Nucleus Research.

The full case study is available at NucleusResearch.com All Nucleus Research ROI case studies are independent assessments, evaluating the costs and benefits from the IT deployment.

About Nucleus Research

Nucleus Research is a global provider of IT research and advisory services that provides CFOs, CIOs and their staffs with the real-world information they need to maximize the business returns from their technology investments, including successfully executing their IT deployments and determining the business value of their initiatives. For more information, visit NucleusResearch.com.