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REVENUE BENEFIT AND PARTNERSHIP OVERVIEW |
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TOTAL COST OF OWNERSHIP
The Total Cost Of Ownership (TCO) has been the baseline tool used by process management and consulting teams since The Gartner Group mainstreamed
the discipline in the 1980's. TCO takes into account the fixed and variable investments, time and expenses required by an organization to
produce a service or product in-house versus outsourcing the product or service to a specialty provider.
To develop a functional TCO of a business process or product line, an organization should first establish some criteria which may be counter-intuitive.
A baseline chart of accounts and a income statement are generated for the area the TCO analysis is to be performed. This is an exercise
similar to project and program management establishment and startup.
An organization must view their employees as revenue-generating assets. An employee's time may be directly billable or
internally billable, but their value is based on how much revenue they can generate or recover. To properly establish these revenue targets, industry norms and actuarial compensation tables are available from
many benefit consulting firms.
Another important focus area involves the removal of personal bias and emotions from the process. The primary objectives are
to increase revenue and profits while exceeding all customer expectations.
Once an organization establishes an appropriate revenue generating matrix by department and/or employee(s,) a quantitative TCO analysis may proceed.
WHY TCO MATTERS
PERSONNEL INVESTMENT
Personnel costs are usually the most significant expense for a professional services firm. These resources are also a firms
primary revenue stream. The reliability, knowledge and quality of work demonstrated by these assets determine a firms
ability to generate appropriate revenue and income levels. We maintain title examination, closing and records management
resources to support our internal requirements and meet our customers ever changing operational requirements. Click HERE to read more.
PRIMARY WORKSPACE EXPENSES
It requires both a significant expense and investment to provide the infrastructure to support an employees daily activities.
These investments require tracking, maintenance, support and while others are simply disposable. Within the TCO model,
non-critical activities or processes that are outside an organization's revenue-generating product line(s) and also
include a high infrastructure cost are prime candidates for the TCO analysis. Click HERE to read more.
OPERATIONAL EXPENSES
The daily activities surrounding operations determine efficiency and profitability. A profitable organization has clearly defined processes.
The processes are repeatable and auditable. Variations from the processes are either rare exceptions or defects. Tools required to
support the efficient organization employ a significant investment to define, develop, execute and refine. A profitable organization
may not be performing at their most efficient levels and simply not be aware of the lost opportunities and profits. Click HERE to read more.
MARKETING SALES AND CUSTOMER INVESTMENT
Over the last 7 years, communications tools, data networking, technology solutions and business conditions have greatly changed how businesses operate.
A business partner, a provider 'specialist', and a customer can be 2500 miles away and only 2 seconds. Customer acquisition and customer retention
are now the challenge. A satisfied customer does not guarantee customer retention. Customers who have been forced to support a provider due
to market limitations can now look elsewhere. Internet search engines, professional organizations and good references rival the traditional word of mouth. Therefore, and organizations investment in marketing and sales collateral is considerable. Directing
precious funds and resources from non-revenue generating activities to business development is imperative. Click HERE to read more.
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THE RECORDS ROOM TOOLSETS |
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BUSINESS PROPOSITION
Marketing - What easier way to get new business, demonstrate an excitement for technology and communicate to your
prospects and customers! We'll develop and manage your web presence and we'll work with you to generate business.
Title Orders - Title Examiners, Closing Agents and Underwriters have a web portal hosted by eTitle.com.
We provide a variety of templates for sites to meet your growing needs. If you desire a site to serve simply
as a billboard for your business, no problem. If you would like a site where your customers can place orders,
receive order confirmation and view their completed orders, we can do that. Your site contains your branding and logos.
Workflow Status - You can view your orders as they are processed. We assign a project number and an
order number to each order. eTitle.com customers have access to their orders, their work in process and
their historical archives. With production packages defined by the MISMO eVault transaction set, our customers
can insert their own multimedia files, notes, digital documents, pictures and scanned images into their document
packages for archiving and construction of each eVault and for future recall.
Closing Services and Financial Support - Our “Work Bench” provides the auto population of HUD-1 & loan data via
the eTitle.com Order System. The entire closing package can be prepared, presented and archived at the closing site.
A financial management system provides the foundation for the closing system so a transaction may be funded, settled
and properly distributed with confidence.
Historical Files - Our customers may use their access to our data warehouses to save their customer and business
files for future recall and review. Customers may add content to their files at anytime. Customers may also configure
a representation of their office, their associates roles, their data needs and their business rules to build a community.
The community may then share or restrict access to common files, office archives or associate archives. Customers may be granted ‘visitor’ rights to view specific files, groups of files or files in a ‘common area’.
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