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Visibility into profitability across the organization is imperative to making informed decisions to improve the bottom line. First Midwest Bank, a $9 billion institution in Illinois needed to measure product and customer profitability to support pricing and product offering decisions with accurate contribution margin results. The calculations of product support charges needed to reflect the standard variable costs of activities captured at the customer account level of detail. This level of granularity needed to support aggregation to the customer level using customer information systems and other householding criteria, the product level by aggregating on product type and the organizational level by aggregating on general ledger cost center.

Watch on-demand: First Midwest Bank’s SVP Finance Manager Rich Padula and Profitability Systems Manager Jeff Vrabel describe how First Midwest Bank approaches bank profitability.

In this webinar, you will learn:

  • How First Midwest Bank built a robust profitability framework
  • The ways they analyze profitability at their bank and the measurement techniques they leverage
  • How Axiom EPM’s solution fuels First Midwest Bank’s profitability reports

A PRACTICAL APPROACH TO BANK PROFITABILITY WITH FIRST MIDWEST BANK

Robust profitability reporting drives key business decisions