1. General American Corporation Implementing IT Solution Dan Green GBA 573

2. Overview of Company Mortgage Escrow Firm –Schedules closing –Prepares legal documents –Disburses funds

3. The Process Three-stage operations process

4. Stage 1 Scheduler contacts closing agent, arranges meeting with borrower

5. Stage 2 Preparation of HUD documents –Legally binding contract between lender and borrower –Includes amount borrowed, interest rate, and creditors to whom money is owed

6. Stage 3 Three days in escrow….then.. Disbursement of Funds –To creditors –To Borrower

7. The Problem Current system not interactive No online link between the three stages

8. This leads to……. Information re-entered in each stage –Inefficient –Waste of time –Allows human error….inconsistent records

9. Serious Problems Error in Disbursement stage –HUD legally binding document –Checks must match figures and creditors stated on HUD –Currently, checks cut manually, room for human error

10. Project GAC wants to introduce new software that creates one system ----linking the three stages. Software applies concurrent information in relevant fields Automatically cuts checks to match HUD

11. Objectives Automate Operations –Particularly check disbursement Creates online database for each borrower More efficient –Reduces potential for inconsistent records

12. Expected Benefits Streamlined Operations Cuts Waste Cuts Work-Hours (Saves $) Reduces instance of human error

13. Project Design Feasibiliy Analysis –Operation –Economic –Technical –Requirements Analysis

14. Scope GAC bid out contract Contractor designs Software with GAC input Establish Software in System Train employees Review results

15. Concern to GAC Must maintain workload during training of new software

16. Real time Training on site Solution: Bring Consultants from Software designer to GAC, sit with employees to walk through process –Training while achieving output

17. Response Team Consultants on-site to assist in transition, respond to any problems not foreseen in software development

18. After Implementation and Training Establish hotline for questions Final Analysis

19. Costs GAC employees salaried, involved in regular workday while training….no extra costs here Bid Project to Contractor –Costs to contractor for software development and programming –Onsite training –Response team and hotline assistance

20. Questions ?