Mortgage companies boost efficiency

System improves efficiency by 34 per cent in six months

Preferred and Southern Pacific Mortgage Ltd (SPML), two of the UK’s fastest growing intermediary mortgage lenders, have both used vendor eg solutions to improve business efficiency.

The system helps the companies understand the volume of outstanding work (expressed in hours) at any one time, as well as showing the efficiency of staff and departments.

‘The management information that we now have thanks to the system is phenomenal, said Gavin Deeble, underwriting manager, Preffered Mortgages. 'At a glance, managers and team leaders have the tools to hand to see exactly where we stand in terms of resource, workloads, service standards and pace.’

Preferred and SPML aimed to implement consistent management practices across both businesses, and expand their businesses without corresponding increases in staff overheads.

With both companies operating from multiple locations, senior management needed to implement a consistent methodology to ensure best practice. Vital to this was the requirement for accurate, transparent and timely management information, which would effectively replace the use of bespoke spreadsheets.

Since implementation effectiveness earned has risen in 6 months by 39.43 per cent and efficiency has risen by 34.42 per cent over the same period.

'Before implementing the system we had no robust way of accurately gauging how effective individuals were or how efficient the department was as a whole, which looking back was not ideal,' said Michelle Johnson, Pre-Offer team leader. 'With the implementation of Operational Management we can now see very clearly and precisely how productive we are, thereby enabling us to measure staff performance consistently.'

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