We saved one of the largest retail banks 8% of its annual spend

A bank vault with its door open; a hallway within the vault is visible.
Our technology platform and data-rich approach to expert service helped the bank reduce costs and improve performance. 

The challenge

A nationwide retail bank outsourced its facilities maintenance program to two facilities management companies, but unqualified service providers and legacy technology led to years of uncontrolled spending and poor performance. Disrepair convinced the bank to close many of its locations before turning to SMS Assist for a better way. 

The solution

We rolled out a pilot program to the customer’s Florida locations to demonstrate the benefits of our technology and expert service solutions. Our data-first approach to portfolio management made a profound difference after just six months. Here’s how: 

One by SMS Assist™: Our platform gave the bank control and visibility over its portfolio. With former providers, the bank struggled with aging technology: Legacy platforms offered the bare minimum in terms of work order management, and a lack of real visibility proved both frustrating and expensive. Without insight into the process and progress of a work order, miscommunication on specific needs often resulted in multiple visits and incomplete fixes. 

We leveraged One by SMS Assist to manage vendor services for bank-specific assets, including vaults, ATMs, safety deposit boxes, and other essential bank hardware that requires frequent and rapid attention to maintain smooth day-to-day operations. 

Our platform empowered the bank with the ability to manage hundreds of nightly janitorial work orders every month, in addition to other high-frequency services. With One by SMS Assist, the bank could finally see into what work was being performed, when, and how. 

Data-rich setup: Far from just a line on a balance sheet, an SMS Assist work order charts hundreds of data points to tell the most complete story about a customer’s portfolio, and in real time. By contrast, the bank’s incumbent provider offered essentially no data beyond the basic “when and where” of a work order. With SMS Assist, work orders are put into meaningful context with information about physical check-in and check-out times, thorough photo documentation of work performed, process checklists, and advanced reporting. 

Affiliate network: We manage a network of more than 20,000 vetted and qualified service providers instantly available through the One by SMS Assist portal, ready for specialized work in more than 45 trades. Before working with SMS Assist, the bank struggled with general handymen and unqualified providers, which only led to patterns of temporary “bandage” fixes. Without the expertise to solve the bank’s root problems, expenses piled up and more serious problems surfaced. 

Operations teams: Our in-house teams of operations and trade experts supported the bank on a 24/7/365 basis, troubleshooting problems through our platform and over the phone and providing expert consultation rooted in years of trade experience. 

The result

8% in total annual savings

4+ rating on more than 40,000 work orders

We’re on-track to manage as much as 100% of the customer’s portfolio in 2020