Bridgeview Bank and CIMCO Partner in Customer Satisfaction
Problem:
Bridgeview Bank has established itself as a trusted business in the local Chicagoland community since 1971. With 17 full-service banking facilities in the area and 40 employees, Bridgeview Bank offers both personal and business banking services to a variety of clients. In addition, Bridgeview Bank also maintains banking facilities in Arizona.
Family-owned and operated, Bridgeview Bank is focused on offering customers a better banking experience through competitive rates, superior customer service and optimum products. Bridgeview knows consumers want and expect excellent customer service with innovative products. The fact that Bridgeview Bank is heavily involved in the community helps to strengthen its position as a trusted and respected member of the local neighborhoods where its facilities are located.
As its business continued to grow, however, Bridgeview Bank began to question the number of invoices it received from its different telecommunications providers. The amount of time spent analyzing and reviewing each invoice became an overwhelming task. The frequency and volume of invoices were distracting key financial and IT professionals from performing more strategic duties at the institution.
As Bridgeview Bank continued to strive for the best customer service and innovative product solutions, it became apparent its telecommunications service providers were not keeping pace. The local incumbent carrier had unreliable service with frequent line breakdowns interrupting Bridgeview Bank's services. The communications breakdowns were, in turn, creating down time in banking operations and the potential for customer backlash.
Telecom service is just one piece of the day-to-day operations for the bank, but its reliability is crucial to maintaining satisfied customers. Even when faced with early termination penalties, Bridgeview Bank chose to cancel its local phone service contract and investigate better options.
Solution:
After an intensive search for a local telecom provider, Bridgeview Bank selected CIMCO Communications, an integrated communications provider in Oakbrook Terrace, Ill., for voice services. The relationship began in May 2004, when Bridgeview investigated possible solutions for the difficult task of invoice consolidation. Bridgeview chose CIMCO over other communication providers primarily due to newer voice technology, data back-up service, lower costs and personalized customer service.
CIMCO and Bridgeview Bank partnered to find the best possible solution for the needs of the latter's 17 banking facilities. Initial meetings between CIMCO and Bridgeview Bank were focused on reducing line charges and improving service reliability. Bridgeview quickly recognized that the strength of the partnership was due to the outstanding personal customer service CIMCO provided. CIMCO's customer service strategy is based on the fundamental philosophy that every time customers call CIMCO, they speak to a real person, not voice mail or an automated phone directory.
CIMCO assigned Bridgeview Bank one account manager. CIMCO employees are seasoned professionals with many years of telecom service. Customers rely on CIMCO as a communication provider, but over time, they view the relationship as a strategic partnership.
CIMCO worked closely with Bridgeview Bank to ensure a seamless migration from the previous network carrier. Carlo Caprio, Bridgeview Vice President of Operations said, " Not only was the migration to CIMCO a great decision for the cost savings, but the fact that the entire process was carried out without interruption to our normal banking operations made it all worthwhile."
Moreover, Bridgeview Bank now receives a single invoice from CIMCO instead of having to review boxes of invoices. In addition, the bank reviews and approves its invoice through CIMCO's Web-based portal. The benefits of the electronic bill include being able to sort information, associate various lines within sub-accounts with their appropriate costs or profit centers, break down bills by geographic location, and substitute lengthy circuit numbers with descriptions.
Results:
CIMCO's dedication to providing low-cost services has resulted in more than 25 percent in savings. Local voice bills were reduced providing an annual savings of $30,000. CIMCO recently began providing Bridgeview's toll-free business and has saved the company an additional $1,000 per month.
Unlike other telecom providers, CIMCO does not require a volume commitment in its contracts. CIMCO typically reviews customer invoices to determine the best ways to save money without requiring a customer to spend the savings on additional services.
The bank now views CIMCO as a strategic partner, not only a reliable vendor. Bridgeview's positive experience has positioned the bank for further growth.