Encompass Log Milestone Completion Times In Business Hours $995.00
If you’re looking for an efficient and accurate way to track milestone completion times in your Encompass® instance, this plugin is for you.
Problem
The loan origination process involves various milestones, such as application submission, document verification, underwriting, and loan approval. However, Encompass lacks a built-in feature to accurately track the time taken for each milestone's completion. Without any tool to track milestone completion time, lenders resort to other methods, such as manual data entry or using external tools that can prove to be unreliable. These methods are time-consuming, prone to errors, and do not consider business hours, resulting in inaccurate tracking and inefficient process management.
Solution
Our Log Milestone Completion Time Plugin offers a robust solution that accurately tracks and calculates the time taken to complete milestones within Encompass®. With the ability to maintain business hours for timing calculations, lenders can precisely analyze loan processing efficiency while excluding non-working hours. Our plugin is adaptable to track and calculate any span of milestones as required. Placing time-tracking buttons anywhere within Encompass® empowers the users to access the data conveniently.
Features of Encompass Milestone Completion Time
Customizable Milestone Spans
Adapt the plugin to suit your unique loan origination process by tracking and calculating any combination of milestones.
User-Friendly Interface:
Intuitive time-tracking fields are placed throughout Encompass® for easy accessibility and seamless integration into your existing workflow.
Automated Reporting:
Generate comprehensive reports effortlessly to gain valuable insights and make data-driven decisions.
Benefits of Encompass Milestone Completion Time
Workflow Efficiency:
Tracking milestone completion time allows organizations to identify bottlenecks and inefficiencies in their loan origination process. By analyzing the time it takes to move from one milestone to another, lenders can pinpoint areas where delays occur and take measures to streamline their workflows.
Service Level Agreement (SLA) Compliance:
Many lending institutions have SLAs or internal targets for completing specific milestones. The plugin enables them to monitor and measure their performance against these targets. If a milestone consistently takes longer than expected, the organization must investigate and take corrective actions to meet SLAs.
Process Optimization:
Analyzing milestone completion times can help identify process inefficiencies and areas for improvement. By understanding where delays occur, lenders can modify their processes, allocate resources more effectively, and implement changes that result in faster loan processing times.
Better Customer Experience:
Loan applicants expect a smooth and timely loan application process. By tracking milestone completion times, lenders can ensure the loan origination process is well-ordered. They can communicate more accurate timelines to borrowers and proactively manage customer expectations.
Regulatory Gains:
The plugin can also contribute to compliance efforts by providing an audit trail of milestone completion times. This can be useful for regulatory purposes and internal quality control, ensuring that loan processing times are correctly recorded and reported.
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