Have You Ever Talked to a Corporation? I Talk to People

Throw vendor brochures into the recycle bin before you read them, and don't waste your time attending a vendor dog and pony show. If you want to know which vendor you should be entrusting the future of your bank with, go talk to them. Following is an excerpt of a chapter in my report.Last year, I launched a new idea, with a borrowed name called "10 Questions for the CEO." I got the idea from Time magazine because every time I read an account of their Q&A, that has been directed to a highly diverse range of popular people, I gained a whole new perspective of the person they had interviewed. Not the stuff their PR agent directed, but very real and sincere stuff, it seemed to me. If Time ever does Britney Spears, I wonder how many 20-something year old guys would say, "That's the kind of girl I want to marry." My interviews with the CEOs of prominent bank tech companies were gems. I'll keep them forever. Since then, one of the CEOs got a promotion. Another one was elected to the board. One is now CEO of a company that went public; that's a promotion, but a lot more work for him. One left the company, no reasons given. The other two are relishing their credits, at least I would, for leadership performed according to the expectations of any "C" position.

This year, I changed the agenda simply to avoid repetition and boredom. I didn't want to hear six CEOs say, "Is it a year already since we talked?" So I left it up to each company to select the people, the place, the date, the agenda and the spirit. How's that for trust when you invite a vendor to take charge. I'd do it all over again. All the marketing programs, collateral material and presentations wouldn't do a thing to display these companies for what they really are. Let people talk for themselves and you'll get the skinny that really means something. I got it!

The companies that participated this year are (in the order in which the interviews were conducted):

Fiserv, Inc. Jack Henry & Associates, Inc. Metavante Corp. Harland Financial Solutions Fidelity National Information Services COCC

I confess to some bias. I knew every one of the guys I interviewed. They knew most of my positions regarding key issues, and they thought I remembered everything they had told me in the past 10 years. So there was continuity in what was discussed, as well as accountability. It's easier talking to these people than some of my bank clients. That's why in my consulting projects, after I make my final recommendation, I tell my clients to visit with the successful vendor and talk to their people. They do it, and return with signed contract in hand. After the techno analysis is done, it's all about people.

You might also like to know that these sessions were very businesslike. There were no lunches, maybe a coffee or bottle of water, and when we were done, it was really done. On the way back to the airport, one of the limo guys gave me 10 minutes on the benefits of online bill pay. His is free, but he'd be happy to pay for this wonderful service. It never ends when you're on a roll, folks.

For the benefit of this blog, I put a dollar value on the sessions. Trimming out the tiny bit of social talk, 13 people (sans me) with collective experience of 309 years, passed on their wisdom to me, and now to my readers. Using my billing rate (they'll be proud) as a guide, that block of work is worth $16,900. Some day, I'll publish my list of stupid words marketing people use over and over and over again. I never heard any of them used during these knowledge-transfer sessions. I gotta get out more.