- Am I being overcharged for my processing services ... ?
- How do I get started... ?
- When is the best time to start the negotiations..?
- How much time is needed... ?
- What are the areas of the Profit Enhancement
evaluation... ?
Am I being overcharged for my processing services
... ?
DMi Networks has the competitive market information and
experience to determine the appropriate pricing, discount levels, contractual
verbiage, terms and conditions.
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How do I get started... ?
The first step is for the bank to sign our agreement and determine which of
the contract cost reductions areas that the bank wants DMi Networks to review.
We will provide the bank with our Request for Information listing the specific
contract and invoices that we need to review. We request that the bank
make copies of these documents and sends the copies to our office. We will
review the documentation and prepare a written appraisal of your current costs
compared to our "A" target pricing ..information on your company?
You can find information on our company on our 'About Us' page.
...how much this will cost me?
Our 'Services' page discusses financials, we do offer a 100% RISK FREE
appraisal
Many of the contracts we review are three (3) to seven (7) year contracts.
Based on our experience, we have found the best time to negotiate contract
renewals and extensions by type of contract are 10 to 18 months prior to
contract expirations.
During contract negotiations, we request that the bank designate a
coordinator to provide copies of the contracts and invoices. Within 10
days we will prepare an appraisal of our findings to be reviewed and as a
result, obtain a authorization letter to begin the negotiations with the vendor.
During profit enhancement, we request a data gathering visit of 1-2 days to
gather necessary information and documentation from various team members.
We may spend 10-15 minutes here and there with certain team members during our
data gathering process. Once completed with our visit, we return to our
office to complete our recommendations. Usually, we are ready to review
our finding with the management team within 30 days. Our recommendations
are typically easy to implement and could be completed within the same day.
Pricing of lending related services - we have identified over 30 lending
related services of value which can greatly add to revenues for our clients
Non-Credit Services - we do not recommend increasing service charge pricing
already in your service brochure. We focus on methods of counting, methods
of calculation and sources of revenue which do not require new service brochure
disclosures for increased service charges.
Interest expense and interest revenue - few firms consider this area.
We have identified many non-price sensitive ways to increase earnings in this
area.
We believe that we can deliver more easy-to-implement profit enhancement
recommendations, that your bank will want to implement, than any other
consulting firm, that excludes staffing cost reduction and increasing services
charges which require service brochure disclosure changes.
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