Benchmarks

Global Concepts’ operational benchmarking studies enable executives and managers to identify areas of opportunity within their payment processing operations through well defined and validated comparative metrics of productivity, unit cost and quality.  Our studies also provide a valuable opportunity for participants to interact with their peers through group meetings and ongoing virtual user groups. 
 
All Global Concepts’ benchmarks are built with a few key objectives in mind:

• Comparability:  each Global Concepts study provides the highest level of comparability for key operational functions.  We provide complete definitional materials to all participants.  Global Concepts reviews the survey materials with all participants in a survey review meeting and provides ongoing assistance directly to participants and by facilitating user group meetings. 
• Validity:  we validate all data submitted by participants to ensure consistency with our definitions.  All data is validated at least three times:  once after initial receipt, once before publication of the preliminary results, and once before publication of the final data. 
• Understanding:  our methodology focuses on defining and comparing like objectives rather than comparing only identical processes.  By comparing the efficiency of different ways of accomplishing the same task, we provide an objective tool for evaluating new technology and management techniques.  Often, we also visit top performing and new participants to ensure that we understand and can explain their payment processes. 
• Ongoing Value:  the benchmarking process doesn’t end with the publication of the final results.  Global Concepts subject matter experts either visit participating institutions or hold virtual meetings to review the study results.  We identify areas of exceptional performance, opportunity, and specific best practices that may benefit the participant.  Global Concepts also facilitates ongoing user groups where managers may learn from each other by discussing the study and other operational topics of interest. 
• Accessibility:  Finally, we invite all participants past and present to call us at any time with questions.  We frequently perform targeted ad hoc surveys to provide additional clarity to best practices and operational metrics.

    
Study Objectives

The purpose of all Global Concepts Benchmarking Studies is three-fold:

• To identify the principal factors that drive cost and productivity including labor, equipment, occupancy, systems and postage.
• To help understand the differences in cost and productivity between the participating institutions and their respective operational workflows.
• To identify areas with significant potential for improvement, both within the participating organization and across the industry.

We utilize a six-phase process that not only ensures an "apples to apples" comparison, but also allows participants to use the study findings in the management of their operations. This six-phase process includes:

• Survey definition
• Data collection phase;
• Data validation
• Preliminary analysis 
• Preliminary results and peer review;
• Final results analysis and process reviews
• Presentation of study results.

Global Concepts also holds individual meetings with each participating bank to discuss areas of opportunity and ways for the institution to capitalize on its strengths. Some participants use these meetings as strategic planning sessions where product, operations, and systems areas come together to determine how to improve their operations and products. Others use the opportunity to allow operational personnel to hear and ask questions regarding industry "best practices."