Company Profile

FAMC, based in Franklin, TN, is an emerging leader in the mortgage industry.  It serves small to large lenders through its Correspondent Lending Division; mortgage brokers through its Wholesale Division; and consumers through its Retail Division’s 35 branch offices.

The company is a member of the Inc. 500 Hall of Fame after being a six-time recipient of the Inc. 500 Award and has been consistently recognized by state and local organizations for business growth and contributions to its communities.

Business Challenges

FAMC looked to centralize all customer classes — commercial, wholesale and retail — into one technology solution to enable document capture, routing, and integration to multiple systems. The solution had to leverage an existing investment in MFPs as a document on-ramp to other business processes. It had to be easy to use and flexible in a rapidly changing market and regulatory environment. It had to be a process-driven solution to ensure consistent business practices no matter where documents were scanned, and seamlessly connect to the firm‘s document storage systems.

The technology could not require extensive reconfiguration or employee training when FAMC needed to respond to changing regulatory or market demands.  And, it had to leverage FAMC’s privilege structures and provide audit traceability for all documents passing through the system. Finally, the requirements included recognition of users and the ability to automatically pre-fetch useful process data that would minimize manual data entry.

FAMC chose AutoStore™ from Notable Solutions to meet the specifications.

“The tipping point for choosing AutoStore was that it completely fit the need,” says Michael Rhoden, FAMC’s vice president of Information Technology.  “It met  our criteria with its versatility and the ability to more fully leverage the capabilities of our existing mixed fleet of MFPs.  We’re now able to route documents within geographically dispersed departments and ultimately into our central document management system for storage.”

Results and Benefits

AutoStore integrates with 67 devices, including 47 Ricoh MFPs and 20 Fujitsu network scanners. It applies indexing information to scanned documents while predictive intelligence recognizes users and automatically pre-fetches useful processing data.  “This process extends the business process to the front panel of the devices while minimizing data entry for the staff, yet gives us the metadata we need,” Michael adds.

Easy maintenance is a major factor in the success of the deployment too.  “It didn’t have a huge ramp-up time, it didn’t cost a lot of money and it’s not a problem to maintain. But equally important, with AutoStore, we also have a more controlled and secure environment. We know who’s scanning and we’re saving time, money and reducing human error involved with manual data entry,” says Michael.

One significant ROI benefit Michael singled out is the elimination of shipping documents between branches and headquarters. They hope to see a savings of over $15,000 a month once the entire program is in place.

AutoStore is currently used in the lending departments, but Michael also sees possibilities for areas of the firm like Accounting and Human Resources, both paper rich environments.

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