In today’s fast-paced business environment, the importance of automation and organized workflows cannot be overstated for Appraisal Management Companies. With 76% of businesses using automation for standardizing or automating daily workflow adapting to automation can lead to many benefits for AMCs.
An automated workflow is a series of connected, repeatable activities that automate a business process, increasing efficiency, accuracy, and productivity. In this blog, we’ll discuss the importance of automated workflows in a system and how ValueLink plays its part in ensuring versatile workflow automation for Appraisal Management Companies. Let’s get started!
Benefits of Workflow Automation
1) Efficiency
Appraisal Management Companies can increase efficiency in their valuation process by implementing automated workflows that reduce the need for manual data entry and minimize errors. Automation can also be scheduled to run at specific times, freeing up time for more critical tasks.
2) Cost-Effectiveness
To save time and money, Appraisal Management Companies can implement automated workflows instead of relying on manual labor. This reduces the need for time-consuming tasks and minimizes the cost of completing a process.
3) Visibility
Workflow automation provides visibility into the status of a process, which is particularly useful for complex workflows involving multiple steps and departments. Automated workflows can track progress and provide real-time updates to stakeholders, ensuring everyone is aware of the process’s status.
4) Scalability
As Appraisal Management Companies expand, automated workflows can be easily scaled to match changes in business processes. This allows the company to incorporate additional tasks and processes without requiring additional resources.
5) Compliance
By following specific guidelines, workflow automation can ensure that Appraisal Management Companies comply with regulations and company policies. This reduces the risk of non-compliance and the potential for legal issues.
Introducing Core Automated Workflow
ValueLink strives to improve automation in every facet of an AMC’s loan workflow. Our new Automated Workflow Management module enables users to create rules based on specific conditions such as order status, products, and lenders, among others. These rules automate creating a secondary order once the defined conditions are met for a preliminary order. Users can also specify which documents and reports to copy from the primary to the secondary order and vice versa
With ValueLink Core’s new capabilities, users can work more efficiently by reducing the time and effort required to manage orders.
Workflow automation can increase efficiency, reduce costs, improve accuracy, provide visibility, enable scalability, and ensure compliance. With the right workflow automation tool, businesses can streamline their processes, freeing up valuable resources to focus on strategic initiatives.
To learn more about how Core works to empower AMCs through automation, contact us today!
