Work-related stress not only makes life miserable, but also has the potential to shorten it. The recent news reports that workplace stress is as unhealthy as second-hand smoke probably do not come as a surprise to many.
With most professionals spending over 40 hours a week at their jobs, and always staying connected through smartphones and technology, what you do for a profession can consume your life.
Some of the most common stress factors include:
- Perceived lack of time
- Too many open folders
- Lack of clarity
- Lack of expertise
- Worrying about the worst-case scenario
- Lack of control
- Physical health
Luckily, here at eOriginal, we hope you live a long and healthy life – and our Digital Transaction Management (DTM) solutions are designed to make your work life easier and less stressful. The adoption of DTM by a business can transform every aspect of how both you and your firm achieves success and help to increase revenue.
Below we take five of the eight most common stressors and show how DTM can alleviate them:
Lack of clarity
While lack of clarity can mean indecisiveness, for loan officers it also often represents the mind-numbing job of handwriting analysis on a paper loan application. With DTM, and electronic management of the loan assets, tedious data entry and deciphering terrible handwriting is a thing of the past and not in good order (NIGO) documents will no longer be a part of your business vernacular.
Too many open folders
If you are like me, a tidy desk is the key to a successful work day. Having paper and clutter everywhere is like nails on the chalkboard. Managing all of my files in a digital transaction management system is a dream come true. Using eOriginal’s DTM solution will give enable you to have all loan folders organized, so you can easily navigate between them without feeling overwhelmed.
Plus, unlike paper, you never have to worry about lost documents – and that will alleviate a great deal of stress.
Lack of control
With DTM you have control over one of the most variable elements of your job: your customers’ happiness. Those of us who have interacted with an unhappy customer understand the lack of control you often have in the situation.
Your customers will be the biggest champion of your new digital processes because it will enable them to complete loan applications quicker, easier and more accurately; and as lenders you can process the loans more efficiently, which means increased speed to funding.
In a literal sense, you also have greater control of your assets by going digital. With eOriginal’s eAsset® Management Services, a single authoritative copy of the record is generated that is unique and identifiable, ensuring that you have control of your financial assets.
Perceived lack of time
There is never enough time in the day. With DTM, you get time back. As previously mentioned, not only does digitization eliminate tedious data entry of loan applications, but it also speeds up the lending process.
For OnePlace Capital, a division of Bank Midwest serving the healthcare industry and an eOriginal customer, the average turnaround time for the company’s electronic document process, verses its previous wet signature paper documents process, was improved by over 50%. Plus, the painstaking process of following up on original contracts was completely eliminated.
Worrying about the worst-case scenario
Do you see the glass half empty most days? DTM can eliminate a few of your worries when it comes to the maintenance of loans. One of those is that you never have to worry about duplicate copies of a digital contract – which is often not easily discernable.
Should the loan be held up in court, eOriginal’s eAsset® Management Services provide a full evidentiary package, with a tamper resistant audit trail and an authoritative copy of the signed agreement. With DTM, your financial assets are always protected so that you have peace of mind.