Eulogy: Over the past few years, many sales people and industry professionals have been aware of the inevitable death of the statement analysis department and other technology solutions that attempt to digitize this old fashioned process. Today marks the beginning of the end for a decades old process. Many of you are still struggling to accept this loss, so I thought I would write a eulogy to give you some closure.
We all know the statement analysis department. There are certainly some good people doing the best they can, just like horse and buggy drivers back in the early 1900’s who worked tirelessly to serve their customers after the Model T Ford was introduced. When I began to develop the Instant Quote Tool over six months ago, I realized that this would be the final nail in the coffin for statement analysis. Like many of you, I have memories.
I remember the first time I faxed a statement to the analysis department on my second day in this industry. Well, actually I remember the second time since the fax didn’t go through the first time. The analysis department was quick to respond… the next day. They told me I was missing one page. I would need to go back and ask for that information in order to complete the analysis. The department did tell me the merchant was on Tier pricing which meant they didn’t really know anything about the merchant’s interchange fees. I am sure many of you have similar memories about this dear departing process.
You can think back to all the conversations which were going well until you asked for the statement only to be shot down due to this requirement. Like me, you remember sending one statement to three different processors, only to receive over the course of the next week three completely different savings numbers in return. Perhaps you, too, have sent in a PayPal or square report / statement and received the chilling response, “We can’t do anything with these.” Or perhaps you received this reply from the merchant, “We get e-statements.” That means you can never make the sale.
Maybe, like me, you made your peace a long time ago with this loss and have been completing your own statement analysis while praying silently you didn’t miss something. Were you, like me, wishing there was a way to produce a proposal that didn’t include your illegible, prescription style hand writing? For those of you who share my memories today, I ask you to mourn this loss; accept it for what it is; and then move forward.
In an effort to help you move on with your life, I have a special offer for each of you who have not yet decided to participate in our Instant Quote Tool: 7 days of full access for FREE with NO PAYMENT INFORMATION required. Many of you felt that you couldn’t leave your beloved statement analysis department until our tool was officially launched and out of beta testing. That day has come. Today we launch IQ 2.0 with all of the core features promised in the roll-out along with a few extras. This solution has been tested by over 100 users during the last month on nearly 1,000 statements, and it works exactly as planned.
The official funeral service for the statement analysis department will be held this coming Monday at 7pm EST. Please join us as we mourn this loss together and talk about our path forward.
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