|
|
Company: Thirty-five person, ten-year-old company Situation/problem: Company had reached its maximum operating capacity. They anticipated growing 50% through acquisition. Computer system was over 10 years old. Credit underwriting took twice as long as the benchmark standard. Management wanted a credit scoring system to evaluate all financial transactions. The company needed to develop a credit scoring system. Efforts: Conduct a complete company review for the purpose of understanding workflow and discovering ways to streamline operations and production while developing a credit-scoring model. Management was committed to upgrading their entire computer system. This commitment allowed the creation of a comprehensive credit management system. The system tracked the credit underwriting process, imaged all documentation, credit scored all transactions and provided comprehensive management tracking reporting. Results: The company was able to increase daily productivity by a third without increasing staff. The system reduced transaction-processing time by 1½ hours. Allowed management the ability to obtain real time production reports as well as cutting paper consumption by 65%. This comprehensive system allowed the company to take on a substantial amount of business without a corresponding increase in staff, space and resources.
|
|