ThoughtFocus Achieves Cost Optimization for an Innovative Real Estate InfoTech Organization

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Challenge

Finding opportunities for Growth & Scale

The client is a customer-centered, provider of real estate information and transaction management solutions. They provide public records research and services, including signing, appraisal, valuation, flood data, and related real estate settlement services. The client was looking to set up their own captive back-office center to build a captive scalable workforce as well as to increase revenue and address loss of clients due to missed Turn Around Time (TAT).

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Solution

An evolving partnership

ThoughtFocus’ Hybrid Captive Center (HCC) model was an exact match to all of the client’s back-office service requirements. ThoughtFocus set up an HCC as an extension of the client’s team to provide back-office services, including management of end-to-end title insurance processes (corporate accounting, payables, receivables and procurement). Standard Operating Procedures for various tasks, as well as workflows were also created. ThoughtFocus optimized existing processes by breaking them down into smaller steps and assigning them to specialized staff to perform, thus resulting in faster processing.

Results

98%

Of Work Completed Within SLAs

$2.5M

Cost Savings

20 - 25%

Faster Processing

150 - 40

Resources Reduced

ThoughtFocus set up an HCC as an extension of client’s team to provide back-office services, including management of end-to-end title insurance processes.

Timeline

2016

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ThoughtFocus set up a Hybrid Captive Center (HCC) for back-office services in all areas of title insurance and other functions.

2017 - 2018

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ThoughtFocus optimized existing processes by breaking them into smaller steps and assigning tasks to specialized staff, resulting in faster processing.

2019 - 2021

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Evolved and optimized efficiencies to become a complete back-office solution for the client.

Benefits

A flexible technology partner

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Flexible back-office processes that manage end-to-end title insurance processes and other functions: corporate accounting, payables, receivables, procurement, etc.

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SOP (standard operating procedures) for various searching tasks and defined workflows create improved throughput and reduced errors.

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Processes optimized by breaking each down into smaller sub-tasks with specialists performing those steps for improved productivity.

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Contract resources reduced from 150 people to 40 people due to optimized efficiencies.