Case Study: Investors Community Bank achieves faster, more accurate planning and reporting — incentive calculations cut from 5 days to 30 minutes — with Strata Decision Technology

Investors Community Bank Thrives Amidst Uncertainty with Increased Accuracy and Planning & Reporting Efficiencies

Investors Community Bank faced severe operational strain and planning challenges during the COVID-19 upheaval: a six-person finance team relied on manual spreadsheets for budgeting, incentive calculations, and profitability analysis, and had never done a full reforecast until 2020. To modernize planning and reporting, the bank implemented Strata Decision Technology’s Axiom™ Financial Institutions Suite (Axiom), giving them a centralized platform for budgeting, reporting, incentive compensation, and profitability analytics.

Strata Decision Technology’s Axiom solution automated data feeds and reporting, enabling faster, more accurate analysis and broader access to insights across the bank. As a result, ICB cut incentive calculation time from five days to about 30 minutes, completed its annual reforecast in two weeks, produced four times as many reports with the same staff, and reduced reconciliation and net interest margin tasks from hours to minutes or seconds—improving accuracy, accountability, and profitability.

Investors Community Bank

Cari Larsen

Vice President and Controller