Consulting | Wiz Best Practices

Wiz Best Practices

This consulting service is for those institutions using Wiz software who may have inefficient and time-intensive processes in place for importing and editing data. These customers are not fully realizing the value of their investment because they are underutilizing powerful functionality created to automate and streamline data processing functions. This service was created to help customers reduce costs and potential strain on resources who could be tasked with performing analysis or other more proactive measures in the creation of compliance programs.

Areas for improvement include:

• Manual data entry
• Re-formatting raw data extracts, in Excel, before importing into the Wiz database
• Re-formatting data before importing into Wiz
• Cumbersome processes for clearing edits outside of Compliance
• Manual data import

Our experts will work directly with your institution to conduct a "Best Practices" session for your resources using your data. While onsite, they will spend time with your Wiz users to provide suggestions that will help them not only save time, but will ensure that your institution is using its Wiz product its full potential.

Additionally, we will perform an onsite process review to understand how you are importing, editing, and analyzing data. At the end of the engagement, you will receive documentation that details suggested "quick wins", as well as a plan that focuses on additional changes that can be made to further streamline data processing and analysis at the institution.

At your institution, we will perform the following:

• Analyze specific data elements residing in currently installed systems and how that data may be manipulated prior to receipt by the compliance group to define import formats.
• Understand data quality concerns and document any necessary custom edits above and beyond the FFIEC edit reports.
• Capture requirements for any custom development/configuration to our core software components in order to take advantage of efficient time save saving features such as automation
• Discuss compliance management function and the necessary reports for data quality and analysis. Understand the roles of the individuals receiving the reports. Develop recommendations for standard or custom reports. Capture requirements for custom reporting, if required
• Understand and define end-user system usage (e.g. number of users, expected record volume, etc.) and requirements for end-user training and custom documentation.
• Document findings and review with customer.

Click here to contact us for more information on our best practices service offering.