A Slow Paperwork System Bogged Down a Mortgage Company’s Customer Service

Exela cut the company’s costs, improved productivity, and helped make it more responsive

CHALLENGE

A mortgage company was growing fast – too fast for its old-fashioned paperwork processing systems to handle. The company’s paper-based system took a long time to process by hand and delayed the delivery of customer service.

This company needed to improve business processes and put superior workflow technology into place. It needed a reliable partner to develop, deploy, and monitor the entire process.

SOLUTION

Exela delivered enhanced resources and technology to the mortgage company. Our Digital Mailroom service replaced the company’s in-house scanning operations. And we installed web-based repository technology to enhance the company’s electronic access to data.

BENEFITS

• Over $10 million saved annually in document preparation, scanning and indexing

• 20% savings due to access to document images by multiple people at the same time

• 15% annualized savings in document storage costs

• 40% annualized savings by outsourcing scanning and indexing to Exela

• Quicker data/document access, allowing the company to retrieve data and documents in seconds rather than hours or days

• Less paper needed to support a customer loan

• Lower labour costs due to the Exela system’s greater productivity

• Improved employee morale