Run your Treasury Management Department by Metrics

The age-old adage "What is measured is prioritized" holds more truth than ever. Identifying your Treasury Management department’s actionable numbers is the key to navigating this landscape. These are the specific metrics or data points that not only provide insight but also drive your decision-making process and if you run your Treasury Management department by metrics – not your gut – you’ll make better decisions.

Actionable Treasury Management numbers might include customer satisfaction scores, average resolution time per service ticket, or monthly sales figures. Paying close attention to these numbers enables you to make informed decisions, whether it's improving customer service, enhancing employee engagement, or boosting sales strategies. By focusing on these targeted metrics, you effectively turn data into a powerful tool for proactive change. The critical question to ask yourself is: What numbers truly matter in achieving your Treasury Management goals, and how can you leverage these to make impactful decisions? By identifying and monitoring these key metrics, you position yourself to respond swiftly and effectively, staying ahead in a rapidly evolving world.

Where to Start

Focusing in on the operations side of Treasury Management, we have a few sample areas where you could start measuring:

• Raw number of inbound calls to the business support center. This number represents the total inbound phone calls to your service team. It is a general measurement of inbound phone activity but doesn’t measure the other ways service tickets can be generated.
• Average number of service tickets per customer per month. This is a general measurement of how many service tickets your customer base generates. Everything you do in the way you manage your customers should drive this number down. It is a critical part of calculating your labor load.
• Average time to resolution in hours. This could be measured in a number of ways, but measuring time from ticket opened to closed seems to be the best measurement. This is not a labor tracker – instead it tracks overall team health and customer service levels.
• CSAT rating for the past 30 days. Customer satisfaction ratings over a rolling 30 day period. Your goal should be over 90%.
• Percent uptime for every service. This one might be difficult to track at first, but if you try, you’ll figure out a way to measure the services. Maybe measure the downtime instead of the uptime, then just reverse the numbers for uptime.
• Raw number of service tickets per month. While there is really no action you can take on tracking this number, your goal should always be to grow your customer base (through sales) while running the backend efficiently and educating customers well to drive down service tickets.
• Amount of labor time to resolve each service ticket. This one tracks the efficiency of your service team and their training levels. It also will give you a measurement of the amount of labor needed to resolve the service ticket workload.
• Number of customers per service team employee. Over time, you’ll get a handle on the total customers you can support with your labor pool.
• Percentage of service tickets resolved at tier 1. Solving the issue at the lowest cost labor. Escalations are expensive (in labor dollars) and if your tier 1 staff is well trained and they can solve a high number of issues, your overall support costs will be lower.

These are just a few ideas on where to start with tracking metrics. If you run your Treasury Management department by metrics, you’ll have a competitive advantage in the marketplace.

Looking for more detail on how to measure and track Treasury Management metrics? Our TMClarity Framework is for you. We go deep into detail on what the metrics mean, how to track them, and how to improve them. We also give you industry benchmarks so you can measure your progress against the best in the industry.