How to Fix Turnaround Times
The previous post ended by asking how banks could better handle unanticipated spikes in lending applications. Or more generically, how can a service provider respond effectively to an increase in client requests?
And that doesn’t mean hiring more people. It means automating processes to capture quality data up-front and remove bottlenecks to downstream fulfillment. The real issue is how to do that properly. Tactical solutions focussed on an individual function or channel cause as many problems as they solve, while strategic solutions are out-of-date before they’re implemented.
The key is to start with a quick win. Rapid deployment to handle a targeted problem. Then, after solving that problem (and celebrating the “win”), iterate.
The right tool for the job
But to do this effectively you need the right platform. From the start, the system needs to be:
- Robust – to mimize expensive down-time.
- Scalable – to reliably handle increased volumes.
- Flexible – able to handle new business situations.
- Usable – to be embraced by the business.
It’s all about the user
It’s the last requirement – usability – that is most often overlooked. And, it’s the most important. If a system is not designed for business users – as opposed to by IT – it will fail. For a system to be owned by business users, it needs to be easy to use so the business can maintain it without needing to continually go back to IT.
By automating their document intensive processes with document assembly software, Exari’s clients have been able to cut cycle times and costs by 70%. Think about how much more productive you could be. You’d be amazed how much you can achieve when the business “owns” the solution to its problems. Contact us to learn the ROI for your project.