You know the feelings – powerlessness, exasperation, maybe even anger – and know that these are typical for credit union staff involved in audits conducted by regulators.
Those audits are routine but for many credit unions, they are an ordeal.
Why? Maybe 8 in 10 credit unions still handle issues that arise in an audit the same way they did in 1990, that is, a lot of email flies around to staff (“Handle the attached request from the auditor”) and everything is logged into a tracking spreadsheet.
Except some items never make it into the spreadsheet. Some emails go missing. And anxiety and frustration boil over.
Those credit unions are drowning in minutiae.
Here’s the life preserver.
Enter Redboard, a software tool that automates the process and, says Redboard CEO Brad Powell, the software pays for itself in reduced staff time alone.
Some audit software is hard to use. Not Redboard. When asked, Powell said it’s “so easy even a caveman can use it.”
He added that “we build our software on the same principle that Apple builds the iPhone,” that is, there is significant sophistication but, for most users, what they experience is how easy it all is.
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