Westwood Capital Finance’s challenges
Before adopting Doc2, Westwood relied on traditional Word documents for asset and liability statements and applications, which clients had to print, fill out, and sign. This method was not only cumbersome but also prone to errors and inconsistencies in the information returned.
The manual process often resulted in documents that were difficult to interpret, slowing down the decision-making process crucial for funding approvals. The lack of clarity could lead to potential delays or even inaccuracies in assessing client qualifications.
Additionally, the reliance on brokers to physically handle documents meant that Westwood had limited visibility into whether documents had been completed or when they might expect them back. This uncertainty further complicated their operations.
Moreover, some of their brokers preferred traditional methods, insisting on using paper-based processes that hindered speed and efficiency. This preference for older methods created a bottleneck in the workflow, especially when dealing with less technologically inclined clients.
How Doc2 solved these challenges
Now, with Doc2’s digital document management system, Westwood enjoys a streamlined process where documents are easily filled out and signed electronically. This shift has not only reduced the time spent on each document but also improved the consistency of information received.
The clarity of information has greatly improved; documents formatted through Doc2 are consistent and easy to review, speeding up the decision-making process. This clarity ensures that funding decisions are based on accurate and well-understood client data.
Doc2’s platform provides real-time updates on document status, giving Westwood immediate insights into whether documents have been viewed or completed by clients. This visibility helps streamline follow-ups and reduces the waiting period associated with broker-handled paperwork.
The transition to digital has also been well-received by clients who appreciate the ease of completing forms on their devices. Even for those who are less technologically savvy, this modern approach aligns better with their expectations and enhances their overall experience with Westwood.
Increased Clarity - Digital formatting prevents information distortion common in manual entries.
Real-Time Updates - Immediate insight into document statuses speeds up processing.
Client Satisfaction - Enhanced experience for clients preferring digital interaction.
Doc2 is quick, easy to use, way above its competition.
Marcus Foster, Relationship Manager, Westwood Capital Finance
