Challenges
The QuickDraw team’s main priority is to act as the “eyes & ears” for lenders. To ensure there are always adequate loan proceeds to complete construction, the team previously tracked financials in Excel. However, this was a messy and arduous process.
Tracking every part of a draw request in Excel meant that each team member could only tackle one project per day. It was difficult to see which documents were submitted, increasing the amount of time it took to process each draw request. Back-and-forth conversations with borrowers about missing documentation slowed down the process even more.
Goals
- Implement a software solution to facilitate draw processing within 5 days
- Mitigate the back-and-forth associated with incomplete draws
- Leverage a reliable and notable solution to provide more confidence for their clients
~ Evelyn Boland, Draw Manager
Results
Since implementing Rabbet, the QuickDraw team has even further improved their exceptional customer experience. Lenders and borrowers alike benefit from the peace of mind that their investments are in good hands. Many of their current clients requested to work with QuickDraw after learning that the organization uses Rabbet.
With Rabbet, the team has gained additional security and verification to see what documents have been submitted. One of the draw managers shared, “Recently I got an alert that noted we were using a duplicate invoice number. In the span of 60 seconds, I was able to see that the invoice was submitted months ago. Rabbet caught this error effortlessly and I informed the borrower that the invoice was already submitted. I could not have tracked that in a spreadsheet.” With improved visibility, each team member completes three to four projects a day, as compared to the one-a-day average from before. QuickDraw has gained a reputation for their impressive turnaround time thanks to Rabbet.
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