Monthly Archives: July 2019

Why Credit Unions Should Outsource Mortgage Underwriting?

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The constantly shifting mortgage environment and stringent mortgage regulations have created an increasing need among credit unions to start outsourcing mortgage underwriting.

In 2019, credit unions are more likely to face more challenges. On one end, there are rising mortgage rates that are combined with higher home prices (shrinking profits) while on the other end, credit unions have to bear the brunt of financial regulations. This combination leads to delays and backlogs. To get ahead of these two challenges, credit unions require an alternative business model. Something that helps them minimize their operational costs to a minimum while ensuring optimum efficiency levels of important processes like mortgage underwriting. Outsourcing mortgage underwriting can assist leading mortgage players to meet their needs, without facing delays or backlogs.

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Why Should your Business use Automatic Document Classification?

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Automatic document classification (ADC) is a popular method used to manage unstructured information. With automatic document classification, your business can enjoy a faster, scalable and objective classification.

As a busy organization, you would be receiving a huge amount of paper documents (invoices, email, mail, faxes etc.) every single day. Even after such documents are scanned, it will still be cumbersome to manage and organize them. Recent research has revealed that nearly two-thirds organizations cannot access their information or find important documents because of poor information classification. The research also revealed that the problem might be arising due to manual classification of documents, as this can be inconsistent and spotted with errors. The answer to this problem lies in automatic document classification.

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Why Use Text Mining for your Business?

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From getting meaningful insights out of unstructured data to getting to know what your target audience likes, text mining can help your business make the most out of a huge pile of data.

Did you know that text mining is the most popular way to analyze and process unstructured data? Yes, it true. Most businesses are faced with massive amounts of data stored in cloud platforms and data warehouses. This data only keeps growing by the second, as new data keeps pouring in from several sources. This overflow of data makes it a challenge for organizations to store, process and evaluate huge amounts of textual data with old-fashioned tools. This is where text mining can help.

Text mining can help businesses derive high-quality information from text. Meaningful patterns and insights are extracted from unstructured data. The insights are then used to explore textual data sources. Text mining is multidisciplinary and incorporates everything from information retrieval, statistics, data mining and machine learning to name a few.

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Pros vs Cons of Peachtree Accounting

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Interested to know if you should buy Peachtree Accounting? Let’s weigh the pros against the cons of using Peachtree Accounting for your business.

Business owners often purchase accounting software to help them with managing their financial records. There is a wide variety of computerized software which assist business owners with several calculations. Using such software can also help to increase accuracy. One such accounting software is Peachtree. The Peachtree Complete Accounting was created in 2011 by Sage software and still remains as a popular choice among small business owners and retailers.

Is Peachtree the right accounting software for your business? Let us find out by weighing the pros against the cons of using Peachtree accounting for your business.

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