The challenge
CHFA’s process were most papers-intense. Just one document range of three hundred users getting one friends mortgage so you can more 7,000 pages to own a commercial loan. Professionals continue steadily to incorporate documents regarding life of the loan. Such records need satisfy particular standards and you may read complicated organization and you may financing approval techniques. Likewise, CHFA needs to fulfill compliance for regulators and financial regulating bodies. This type of need some storage symptoms so you’re able to increase for more than 60 ages.
The answer
To solve these problems, CHFA chosen Hyland’s company blogs properties system, OnBase. CHFA started into the first implementation from inside the hr (HR). The latest execution having Hr, a smaller agencies, turned out to be a simple profit you to definitely easily proved the value regarding digital content government.
New department after that managed to move on to Investment Management, Household Money, Unmarried Household members Lending, Multi-nearest and dearest Financing, Lower income Construction, Tax Borrowing Allowance and you can Business Money. We’re deleting reduced-really worth jobs regarding professionals that have OnBase along the department. That way, they’re able to focus on conclusion since their daily workflow, not documents, says Brian Mueller, ECM System Manager.
Digital data files save $1 million yearly
CHFA features provided the platform having its for the-family set-up computer software. Profiles pull-up records with only a follow this link within their everyday programs. Retrieving a paper file could take between about three so you can a dozen moments, claims Mueller. With OnBase, pages pull up the document in only one to around three seconds. That is a good 237% update. Put you to up-over a year, so we rescue over $600,000 only with reduced retrieval. In addition, it has got freed almost 1,000 sq ft regarding a workplace, protecting $175,000.
Single Friends Lending (almost several-thirds away from CHFA’s organization) today catches 100% of its data electronically. Instead searching for report, workers are 3 times more successful. One to saves new department more one or two regular team. As a whole, CHFA saves $1 million every year that have OnBase, claims Mueller.
CHFA are susceptible to compliance for regulators and you can financial services teams. One another markets need strict document retention regulations. With paper, staying data for the right period of time was very difficult.
OnBase allows us to sort and organize stuff smaller. We do not have to worry about losing a document ahead of the storage period was upwards, says Mueller. If we actually must develop they, we would not waste time digging using dated document boxes for this. We can find it with a simple search inside the OnBase.
The brand new Federal Mortgage Financial, HUD, FDIC, Ginnie Mae, Federal national mortgage association and more all regularly conduct audits to your CHFA. Just before, trying to find new required files grabbed months. Now, audits takes only two hours and CHFA hinders non-conformity fines.
Microsoft SharePoint and you will OnBase $255 payday loans online same day Utah boost customer service
Handling report usually made it burdensome for consumers and credit partners to partner with CHFA. OnBase why don’t we replace the way i relate solely to our very own users and couples, claims Mueller. We’re better to work on and can has actually a larger affect a lot more house and you may small businesses to ensure we strengthen communities and you may Colorado’s benefit.
A proven way CHFA try boosting service is by using SharePoint sites. Credit couples glance at called for records about Hyland system and can comprehend the condition of their loans online as a consequence of SharePoint. Afterwards, CHFA plans to feature both important pieces of architecture actually then, replacement CHFA’s current community share completely.
With Hyland’s progressive content characteristics system and SharePoint collaborating, CHFA usually raise organization process automation and you will organization intelligence while keeping the clear answer simple to use.
Why Hyland?
With Hyland, CHFA features a whole file government service. Even better, the brand new agency made it happen versus an army out of developers.
Our company is a tiny They store. And all I can inform you of C# is the fact its an excellent chord for the a piano, however, I will manage an enormous, pervading OnBase provider which is used by all the staff member within service, Mueller told you.
Handling the brand new Hyland class and utilizing OnBase’s effortless setting interface, CHFA features an entire organization system you to will bring most useful service to help you Coloradans.
