Docufree Acquires Advanced Imaging Systems (AIS), a Strategic Information Management Company – Learn More
Docufree Acquires Advanced Imaging Systems (AIS), a Strategic Information Management Company – Learn More
“Docufree does everything they say they are going to do. They stay in touch and make themselves available to answer questions. They deliver on time. What more can you ask for?”
– Stuart Ehrlich VP, General Manager
INDUSTRY. Financial
APPLICATION. Mortgage closing documents
CLIENT SINCE. November, 2010
LOCATION. 5 in the southeast, headquartered in Valdosta, FL
DOCUFREE SERVICES.
Scanning, Online Document Storage
Paper-intensive is a good description for the mortgage industry. The file for a single mortgage can average 300 pages and can easily be 2 inches thick. That’s one mortgage. Because most of the documents are of mixed size, including legal paper, they have to be placed lengthwise in a file box. One box can only hold 6 or 7 at best.
The Atlanta hub of CBC National Bank’s mortgage division processes hundreds of mortgages a month. The volume of paper produced at this rate was extraordinary.
Plus, the stored documents had to be accessed occasionally. To CBC’s credit, all the stored files were alphabetized for future access. That helped. Trouble was, each office of files ended up being alphabetized individually. That meant also knowing which office the file originated in, hoping the last person replaced it correctly and, well, you get the picture.
Not the easiest system for finding information and not a scalable solution even if it was a good one at the time. In these situations, the savings from using empty offices becomes offset by the impact on productivity – a problem in a fast-moving service industry like mortgage banking.
Docufree scans nearly 100 boxes a month for CBC National Bank. “I can send boxes to Docufree as it fits our needs. That helps me manage our cash flow and it lets me minimize the risk of having all our documents out of the office at the same time.”
With the previous office-as-storage approach, retrieving a paper file could take one minute or it could take 15 minutes – depending on where it was. A misplaced file could potentially mean a great deal of searching. Docufree provides a searchable PDF as well as the ability to search the scanned files online. CBC staff can search by criteria they specified whether by loan number, name, address, date – or whatever is most helpful.
Secure Storage. “We already maintain our information on multiple servers to keep it safe so we can appreciate the fact that Docufree does the same thing. Even if we lost all our information in a disaster, we could still turn to Docufree to get it back.”
Docufree Online
For CBC National Bank, mortgage documents are king. Not having access to a document when responding to an investor or the mortgage insurance company is not an option.
Docufree’s advanced processes allow customers to access their information even while the project is under way.
This means a company can remain responsible while also getting to see how the scanning data will be formatted.
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