Paper has been the backbone of business transactions for centuries, but it has challenges. Technology to scan, capture, and convert these documents to a digital, more manageable and secure format has been in place for nearly thirty years. However, despite having technology available for improving business processes through the conversion of paper to digital, there has still been relativity slow transition to this technology in the Mortgage and Title industry.
Documents created either internally within the organization or those received from customers and business partners create numerous problems. Hard copy paper documents manually move through the business process, slowing down response time, restricting immediate access to information, and creating immense demands on staff to re-key data, and then copy and file these documents. There are also legal regulations related to how these documents are handled, stored, and secured.
In this report, we look at the challenges, risks and costs of working with paper, and the benefits of moving away from paper or using it more efficiently. We will provide an introduction to the technologies available for digital conversion, and demystify and define the language and/or jargon employed in the document imaging industry.
Paybacks can be dramatic in terms of improved response times, greater productivity, reduced risks and improved security and the huge cost savings of both producing and handling less paper. This paper will educate any business and its workers in the Mortgage and Title industry. Solutions here are presented for all sizes of businesses—small businesses processing only a few pages per day, all the way up to large enterprises managing millions of documents each year.
Innovations in document-managing technology are not going to move the Mortgage and Title industry off of paper altogether. However, adjustments can be made in areas that will realize the greatest benefit with the least amount of effort doing so. While there isn’t a one-size-fits-all solution, there are improvements companies of any size can make, and we want to help you with this process.
Read on to learn how your operation can address and enable these concepts to your business and your bottom line.
I have been waiting twenty-five years for this technology to arrive! This is really going to drive down our operational costs by allowing us to use fewer people at the data entry level and ultimately at the verification level too. In addition to the benefits going forward, the system also has the ability to take stale data and have it converted into the new system. We had a plant that we capped a few years ago but continued to buy the electronic images from the County….
“We now offer an innovative and high-tech solution to our clients. The system is faster and more efficient than our previous solution. It results in faster responses from the customers and quicker responses to their inquiries. The result: our portal moves the process along faster, and everyone wins. We are delighted with the quality of the work Axis had delivered; their implementation has indeed performed on the vision we had for our solution.”
Working with your company, we have been able to maintain an extremely high level of talent within the group. The resources you have provided us with have given us some key technical skills in specific areas and have made it quite affordable to provide quality support to our business. The Axis resources have blended well into our existing teams and have allowed us to augment our staffing with a variable cost structure.
Our team spent several years looking for the right technology solution that would provide our customers with the most robust, accurate, easily searchable data. Axis proved that they could do what they said they would do. They are knowledgeable, competent and understand our needs as a customer.
It doesn’t have to take a big army to get something done. By engaging Axis’ technical resources, we were able to fast-track our project. With Axis, we have IT staff on demand.