David Seidman
by
David Seidman

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 labor costs due to the Exela system’s greater productivity
  • Improved employee morale

 

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