MINNEAPOLIS--(BUSINESS WIRE)--U.S. Bank, Citi, Ignite Sales and Sageworks are winners in Barlow Research’s 2017 Monarch Innovation Awards. The winners were chosen based on their innovative products and features.
The Monarch Innovation Awards (www.MonarchInnovationAwards.com) are unique and coveted. The 2017 Monarch Award nominations are scored based on uniqueness, stickiness, defendability, ease of use, value and their ‘wow’ factor. This year’s winners were judged by a panel of five jurists: Nick Miller, Clarity Advantage; Mary Beth Sullivan, Capital Performance Group; Terri Cable, BAI; Bruce McMeekin, BKM Marketing Associates, Inc.; and Stu Richards, Bredin.
Most Innovative Product Award: U.S. Bank AP Optimizer
U.S. Bank and accounting software leader Sage partnered to launch AP Optimizer™, built by the bank on the Sage Live accounting platform. The AP Optimizer’s Cash Flow Analyzer evaluates payment and cash flow data and identifies best times to pay. By showing the projected cash flow from both payables and receivables, the user quickly sees how to maximize their working capital. The AP Optimizer’s Consolidated Payables tool allows customers to tell the bank which payment method to use for each vendor and when to pay. For the customer, multiple payment methods (check, virtual card, ACH and wire) get streamlined into one simple and efficient process.
Most Innovative Feature Award: Citi Interactive Solutions
Citi Interactive Solutions platform helps to drive strategic decision-making for treasury, procurement and shared service center organizations by providing clients direct access to critical actionable intelligence. Analyses using Citi Interactive Solutions address areas where inherent inefficiencies may have trapped capital that could have been used for more strategic purposes. Citi Interactive Solutions helps produce recommendations and identify opportunities in a company’s treasury operations that can directly impact financial performances.
Most Innovative Industry Partner: Ignite Sales LeadLync
LeadLync fills a vital gap in the business banking sales process to ensure business customers’ needs are met in a transparent, compliant and ethical manner. Ignite’s LeadLync captures the sales conversation and recommendations from Ignite’s patented customer engagement platform. It then feeds that information directly and instantly into the bank’s Salesforce platform using the Ignite Sales LeadLync integration module. With the significant investment banks have in their Salesforce platform, the bank’s Salesforce data and reports become more accurate, actionable and valuable.
Overall Most Innovative Award: Sageworks Electronic Tax Return Reader
Sageworks Electronic Tax Return Reader (ETRR) automatically imports information from business borrowers’ tax returns, including financial and real estate information, so that it can be used in credit analysis without relying on manual data entry. The purpose of ETRR is to save business bankers and credit analysts 10-60 minutes per return for new loans and reviews, reduce data errors that may occur during manual entry and ensure consistency of data entry between different analysts or lenders. Bankers can respond to clients more quickly and their time can be re-allocated to building business for the institution or servicing customers, which can be a competitive advantage in today’s marketplace.
For more information, contact Emily Cade, Barlow Research Associates, 763-253-1817 or firstname.lastname@example.org
About Barlow Research Associates, Inc. (BRAI):
Barlow Research Associates, Inc. was founded in 1980 to provide research and consulting services to the banking industry in the U.S. and overseas. BRAI specializes in custom research, strategic consulting and syndicated research programs in small business, middle market and digital business banking. All three syndicated programs provide a continuous flow of market knowledge and competitive intelligence to member institutions. www.BarlowResearch.com