Workflow, Technology, and Plug-ins, Oh My…

It is rare to witness a company’s Encompass® instance without any plug-ins in 2022. The apparent exceptions are that a company is new to Encompass®, smaller companies ( less than 25 people), or the usual suspects have not yet made it through the gatekeepers to sell something. As a result, I often get asked why a company needs to spend extra money to have features that seem naturally essential to include in the base-level technology. The answer I give repeatedly is that I believe everybody wants the same kind of experience, even though many companies want to use Encompass® in slightly different ways.

So what is a plug-in? A plug-in is an extra piece of software layered on top of the base program of Encompass®. Unfortunately, that extra layer of technology usually means more computing time. Hence, as I’m sure you are already thinking, more plug-ins mean more computing time, which sometimes leads to a slower Encompass® experience. If Encompass® ends up being slower, even by 1 second, the impact may be significant but well worth it. And this is when you have those flashbacks to fifth-grade math class. Yes, it is all about math, even today!

Every day I see a technology provider touting their solution and their perceived return on investment because of how many seconds or minutes their tool will save your workflow. But, is the solution solving a problem, or does the problem exist in the first place? One good example of this is the verification of the property address. Multiple companies offer a plug-in that will reach out to the USPS mailing database and verify if the address is accurate according to USPS. Why do you need this review? When do you need the address to be reliable? Is it because you “Want to be sure” or is it more about the risk if it is wrong? In reality, many companies are more focused on the address to ensure that a lock must be to the correct address. For example, if you are a mortgage banker or broker that locks your loans as you go, the lock follows the property and not the borrower in most cases. So if someone told you that the property address is 1 Main Street and then it turns out to be 1 N. Main St., that could be a significant problem. However, look at the sales pitches from the technology companies. You will find some focusing on how much time their plug-in will save in the workflow of your team going out to the USPS website manually, searching for the property address manually, and then taking a screenshot manually while saving that screenshot into the eFolder manual. I always ask, why do you need to do that? When is it essential to do that? 

Just because you’ve been doing something for however long you have been doing it doesn’t make it right. You can purchase technology or hire your own developer to create technology to solve things that don’t naturally exist. Make sure your solution is 100% necessary for your company’s business-critical needs up and downstream. One of the benefits of doing a workflow and technology review is to have an independent third party with a keen eye for understanding what is needed. Getting asked why you do it that way and then having someone with relationships and experience know where to find the best technological solution at the best value is priceless in the long run.

For those companies that have 0 to 5 plug-ins, as compared to companies that have 15 or more plug-ins, it does not mean that one is more complicated than the other. On the contrary, plug-ins could be necessary when a business needs to operate as defined by its mission, the industry, or a particular job function; technology may be able to assist. The point is to ensure that the necessary work is optimized.

Recently we helped a retail mortgage banker who has been in business for over 30 years with their technology and workflow. The result was the creation of new workflows to increase efficiency from first contact through closing. We also introduced new technologies like Salesforce, computer-based phone calls, texting, and an online community for their clients to learn more and keep in touch with the company. But, honestly, the biggest challenge was convincing the owners and the team members that they had a problem and that we needed to do something about it. After eight months, The company is now in a position for expanded growth with excess capacity with the current team members and a fully engaged client base who reinforces the concept of “raving fans. “

Being able to help companies for the rest of my career is as rewarding as it gets! So reach out and set up a 30-minute phone call to discuss how we can help your company from the inside out. What usually happens with most situations is there is a pruning of layered technologies as the workflow is reviewed and optimized for all of your business channels. If it turns out that you genuinely do need every plug-in imaginable, then so be it. But you will be able to explain to anyone why each plug-in is necessary and the function it serves to benefit your company and your clients.

https://www.mortgageworkflowpartners.com/contact

Thanks for reading - cheers. 

Larry Bailey

CEO