How LegacyTexas Bank Received a 40% Cost Reduction with FPR
Organization: Legacy Texas Bank
Location: Plano, TX
Year Established: 1963
Primary Business: Personal & Commercial Banking
In business since 1963, LegacyTexas Bank has multiple banking centers serving the communities of Plano, Dallas, McKinney, Frisco, Allen, Park Cities, Addison, Richardson, Grapevine, Weatherford and Fort Worth. After working with FPR’s cost management strategies, like document management, LegacyTexas saw a 40% cost reduction.
THE BOTTOM LINE- FPR delivered a 40% hard-dollar cost reduction to Legacy Texas Bank, day one, without one penny of capital spend. Not one piece of equipment was acquired by Legacy to deliver these savings.”
Cost Reduction Highlights Realized by Legacy Texas Bank
- The document output asset environment at Legacy Texas bank was right-sized, allowing for the elimination of antiquated and unproductive devices.
- A consistent platform strategy was defined as a part of the move forward workflow. This move will ultimately increase service responsiveness, up-time and device reliability.
- Through the evaluation process, low-performing service providers were upgraded which resulted in increased service response, increasing dependability and productivity.
- As is typically seen, the recommended solution allowed for a shift away from a silo-based management approach to a consolidated approach.
- A move toward single-source invoicing was initiated, encompassing all output assets within the organization.
- Prior to FPR’s implementation our clients typically face contractual obligations from vendors that exposed them to over-billings and mis-billings month after month. Through our strategic approach the total cost of ownership was reduced by establishing a true-usage utility-based model which allows Legacy Texas Bank to avoid the pitfalls related to cyclical business trends and potential exposure to unused contract allowances.
- FPR initiated a strategy toward a fully-managed environment which moved Legacy Texas Bank toward a single point of contact to address all document output devices.
- The recommended solution has dramatically assisted the Legacy Texas Bank IT staff by eliminating non-core tasks associated with supporting output assets from their daily routines, enabling them to focus on the primary initiatives.
- FPR outlined future strategies to upgrade the document output fleet and increase the functionality of key output assets, allowing for greater productivity.
- Because the DOAM model developed by FPR utilizes integrated life cycle services to manage critical business document output assets throughout their lifespan of value, technology refresh will be proactively optimized on a continual basis.
Our mission is to successfully deliver value through visibility. One of the ways we serve our clients is by proactively recognizing trends in the marketplace and then applying a best-in-class strategy to effectively guide our clients into those trends which benefit them the most. Ethically, our compass for decision making from our executive team down is very simply biblically based.
We thank you again for considering our organization and the business model we believe to be second to none.