The Challenge
Based in Denver with 170 employees, the Colorado Housing and Finance Authority (CHFA) focuses on one main mission: helping people and businesses succeed. Historically, the organization’s processes have been very paper-intensive. A single file ranges from 300 pages for a single family loan to more than 7,000 pages for a commercial loan. Staff continues to add documents throughout the life of the loan.
The challenges CHFA faced were clear:
- Slow retrieval and paper-intensive loan processes hurt productivity.
- Staying in compliance with many regulations, including retention periods that stretch as long as 60 years, was difficult.
- Customers and partners sometimes found it difficult to work with CHFA.
The Solution
To solve these problems, CHFA chose the OnBase enterprise content management (ECM) suite from Hyland Software. Working with the Hyland team and using OnBase’s easy configuration interface, CHFA now has a full enterprise system that brings better service to Coloradans.
The Results
Without searching for paper, CHFA employees are three times more productive. CHFA has freed almost 1,000 square feet of office space, saving $175,000. Audits that used to take days now take hours. In addition, lending partners and property owners view needed documents and see the status of their loans through an online Microsoft SharePoint® portal, improving how CHFA works with its customers and partners.
Now CHFA:
- Saves $1 million yearly.
- Ensures compliance and eases audits.
- Improves service to customers and partners with SharePoint portal.
“In total, CHFA saves $1 million every year with OnBase. We save on document retrieval and office space, and our employees are three times more productive.” – Brian Mueller, ECM Program Manager
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