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ANN ARBOR, Mich-- Bridge
Finance Group, a Chicago, IL-based firm specializing in accounts
receivable, inventory, equipment and cash flow loans, has selected
and deployed BlueThread's SmartDesk, K2 workflow and Microsoft Office
SharePoint Server 2007 to automate its loan processing business and
meet critical 24 hour Service Level Agreements (SLAs). As economic
uncertainty continues, an increasing number of companies have sought
additional capital to better manage their cash flow. Bridge Finance
Group helps these organizations by offering various types of loans
and other financial services to businesses throughout the country.
With its dramatic increase in business, the company needed a solution
that would allow it to substantially increase workloads and streamline
existing business processes without increasing staff.
Prior to deploying the BlueThread solution, Bridge's loan and approval
processes were labor intensive. Loan applications and supporting
documentation were compiled by hand including the client's list of
accounts receivable, capital equipment, owned real estate, payables
and outstanding debt. Bridge Analysts had to then manually consolidate
this information and package it for processing approval which resulted
in loans taking longer than expected, jeopardized SLAs, tightened
deadlines and increased potential revenue loss to the company.
Today, Bridge leverages K2's robust workflow engine to create and
route work to user in-boxes for processing. Once at the desktop,
BlueThread's SmartDesk automatically gathers and organizes the specific
content required (spreadsheets, line-of-business data, supporting
documents, etc.) to complete the work, no matter its source or type.
SmartDesk then dynamically optimizes the user experience so that
only the right information and specific work processing tools are
presented, based on whether the user is a processor, manager or decision-maker.
And since the system provides real-time status and visibility within
each process, auditors and managers can now stay on top of the borrower's
receivables, monitor ineligible companies; ensuring that debt ratios
and collections are achieved.
Ben Davis, Director of Operations for Bridge Finance Group, comments, "Our
Operations Analysts have saved upwards of 20% of their time processing
the most labor-intensive work. The BlueThread solution has increased
both their accuracy and efficiency. The system ensures that work
isn't just sitting on people's desks ... now nothing gets left undone." Davis
continues, "We have just scratched the surface of what
we can do with this solution. BlueThread's SmartDesk is a comprehensive
application that made our work easier. Coupled with the security
and robust ECM platform features of SharePoint, the solution provides
a foundation to automate virtually every business process within
our enterprise." Rich Feldmann, U.S. Financial Services Industry
Managing Director, said: "Financial firms often struggle with
understanding the 'single version of truth' when it comes to critical
documents around loan origination and management. More and more companies
are leveraging BlueThread's SmartDesk and Microsoft Office SharePoint
Server 2007 to solve these mission-critical business challenges.
The combined solution automates workflow and provides true and measurable
business benefits."
About Bridge Finance Group
Bridge Finance Group offers a combination of comprehensive loan products,
decades of financial expertise and an unparalleled service approach
unique to the lending industry. Through accounts receivable and inventory
revolving loans; and equipment, cash flow and real estate based term
loan lending products; Bridge is able to address the differing capital
needs of its customers. Bridge is based in Chicago, Illinois with
offices in the Northeast, Southeast, and West Coast. Visit www.bridgefinancegroup.com
to learn more about Bridge Finance Group.
About BlueThread Technologies Inc.
BlueThread, Inc. (www.bluethreadinc.com)
is an Ann Arbor, Michigan-based company that specializes in integrated
Enterprise Content Management (ECM) solutions that provide tangible
business benefits. A Microsoft Value Added Partner, BlueThread
specializes in the financial services and insurance industries.
BlueThread principals, are experts in many technology and project
management disciplines, and have successfully implemented over
250 ECM systems over the past 20 years for some of America's largest
companies. |
