Organizations are looking for ways to reduce costs and speed up the steps in gathering and sharing documents and data in work processes. Employees and Customers get frustrated with numerous requests for the same information.
Some of the barriers to improving this process:
- Information and Documents are coming from several sources
- Documents and Data are being duplicated and given to several people
- There are several locations Documents and Data are stored along the way
- Sharing of Documents and Data and the status of gathering takes time and is cumbersome
3 Key Strategies that can simplify these processes and multiply the results of your organization:
- Gather all Documents and Data into one location from the beginning of the process
- Share these Documents and Data with all parties involved in these work processes
- Pass Documents and Data from one person to another/one step to another without requiring copies or duplicate data entry
- If an organization implements these 3 strategies, their cost will decrease and their results will increase. We have seen organizations save from 30 – 70 percent on time needed to gather and share the documents and data in their processes.
Online Forms and Applications
Ideal Process for Automation
- Customer is directed to a website to fill out the information online
- Customer fills out the information and presses submit for the data to be sent to your office
- Data is reviewed and then sent into your computer program with little or no additional data entry from your staff
Duplicate data entry is eliminated. There is no need to print out anything. The process is improved and time and money are saved.
Tax Return Reader
We have over 650 accounts in our servicing area that require annual financial reviews and we have been using the BMI Tax Reader for the past year. The Tax Reader has allowed more time to devote to the collection of information and risk grading; and the time savings from financial spreading increases on loans with multiple operating companies and guarantor affiliates. We appreciate having this product available and intend to use it far into the future.
Many organizations have requirements to review balance sheet and Profit and Loss information from Tax Returns each year from all their borrowers. We have visited offices with stacks of Tax Returns sitting on desks. When asked about them, this is the response typically given, “I put this task off as long as I can.”
Wouldn’t it be great to just scan the tax returns and have the data automatically put in your Management Software or Spreadsheet for review of this information.
BMI has created a product called TaxReturnReader. Just scan your tax returns (1120, 1120s, 1065, 1040 Sch C) and then magically get the balance sheet and profit and loss data to import into your management software or spreadsheets.
At BMI Productivity Solutions, we are committed to enhancing your productivity and streamlining your work processes to capitalize on revenues vs. costs. BMI has developed solutions like TaxReturnReader to free up time for more productive efforts.
What could you or your staff do with additional time?
- Talk to one more prospect?
- Close one more loan?
- Enhance one more relationship?
Our clients are spread across the United States and our supported by our team of technicians located just north of Salt Lake City, Utah. To reach our Help Desk call (801) 546-7462 or email firstname.lastname@example.org.
Drop us a line anytime, and a member of our staff will respond to you as soon as possible