Overcome the Challenges In Mortgage Loan Processing
The mortgage loan processing cycle has a heavy manual component of work in every stage. A recent study by SourceMedia Research/American Banker identified the challenges posed by so much paper and so many manual tasks. These can interfere with the loan process, causing a negative impact on customer satisfaction, firm reputation, and performance.
Manual processing of AP, with its paper and mailing costs and labor-intensive workflows, is time consuming and expensive. And without clear audit trails, it leaves organizations at risk for non-compliance with government regulations. AP automation uses multifunctional peripherals to bridge paper and physical environments with scanning, optical character recognition, routing, tracking, archiving, and electronic invoicing.
This infographic compares the pitfalls of the traditional AP process with the advantages of an automated AP.
Beyond the spotlight on multinational, high-profile brands, security incidents can be a persistent threat to every organization, big or small. Those with poorly managed document environments are particularly vulnerable.
This infographic examines how a comprehensive document management system helps protect your data.