San Diego, CA, July 18, 2012 --(PR.com
)-- In a recent blog posted on nationalmortgagenews.com, Axacore’s Channel Sales Manager Steve DeBlasio suggests having the best Loan Origination(LOS) and/or servicing solutions remain at the top of any lenders IT initiative list as they should be. He also challenges them to re-examine their IT infrastructure regarding non-income producing departments, commonly referred to as the “Back Office.”
You can read the entire blog post at http://www.nationalmortgagenews.com/blogs/bytes/deploy-true-enterprise-platforms-1030934-1.html?site=default_tech
DeBlasio suggests that although these back office folks are non-revenue generating, they are a critical piece of any organization. Without an accounting group, who would record revenue and pay bills? Without an HR department, who will manage payroll, benefits and recruiting? He says we cannot forget the licensing and legal staff. These days, the two latter departments are most likely larger than what most lenders budgeted for.
DeBlasio says that in an attempt to support the back office, organizations may also be deploying multiple applications to essentially solve the same problem. Although the individual solutions satisfy the needs of each department, lenders IT staff must support multiple solutions and are obviously paying for each.
He points out that many organizations deploy what they refer to as an “Enterprise” solution that does not support the entire Enterprise. Understanding that certain purpose built technologies will add little or no value to other departments, there are those that do. Email servers and fax servers are a few obvious examples of solutions that add value to all departments. DeBlasio asks the question, “Shouldn’t a lenders Electronic Document Management (EDM) platform provide the same “Enterprise” benefits?
To demonstrate, he provides a Case in point depicting The Paperless Lender
DeBlasio bets that the majority of lenders claiming to be paperless operate in the following scenario:
-File cabinets filled with invoices and employee files.
-Also may have servicing documents on paper or as images that are co-mingled with origination documents because their solution is not designed to support multiple departments independently on the same platform.
-As a result, the time and money being saved on the front end by deploying technology is getting expended on the back end and not being adding to profits. He says let’s not forget that the support departments, although they are not revenue producing, are a critical piece of the lenders Enterprise.
He recommends deploying an EDM Platform to provide a total BackOffice Solution:
· Even though EDM in the mortgage space has traditionally been used for loan documents only, Axacore’s multi project EDM for Mortgage can also be used for loan servicing docs, HR docs, AP and AR docs, license tracking and more.
· By Utilizing Axacore’s EDM for Mortgage, IT managers can run multiple projects (basically separate versions of EDM) on one install eliminating the need to install multiple EDM systems from different vendors.
DeBlasio concludes by suggesting that an EDM for a Total BackOffice Solution, when deployed properly, will not put all departments into the black, but will certainly decrease lenders expenses.
Since 1996, Axacore’s EDM for Mortgage has provided lenders with a ready-to-deploy platform that reduces overhead, speeds the loan origination process and continues to produce efficiencies throughout the life of the loan. Mortgage Technology Magazine named Axacore a TOP 50 Service Provider for 2011. For more information or to schedule a demo, please visit www.axacore.com