ATLANTA, Oct. 13, 2015 /PRNewswire/ -- Financial services provider, 1st Franklin Financial Corporation (1st Franklin), recently enhanced its proof of claims filing process with the PMG Enterprise Service Platform (ESP). The business process automation platform, powered by PMG, has allowed 1st Franklin to decrease time spent processing and assigning claim filings by 99.6 percent.
Prior to implementing PMG into its claims management process, 1st Franklin dedicated several hours each day to processing third-party bankruptcy reports. PMG imports these files and interprets the data for standard use across all 1st Franklin loan offices. Furthermore, PMG's compatibility with external data providers reduces daily reporting and follow up time from 1st Franklin's previous average of 4 hours to less than one minute.
"The PMG support team has helped us tremendously. We offered them our issues, and they helped us configure a solution specific to our needs. Automation, operational visibility, action-triggered notifications…we've got it," said Angela Barrett, 1st Franklin Administrative Services Manager.
PMG also provides real-time status updates through its visual work queue. This allows 1st Franklin to check on the status of all claim filings with a few simple clicks. Time and activity-triggered notifications further ensure claims never disappear from the radar.
"We're ecstatic about the increases in efficiency, but my favorite benefit has been simple stress reduction. If there's ever a snag on a claim, we are able to track branch and department tasks and call the responsible party. PMG ended the guessing game and all unnecessary email and phone calls along with it," said Anita Looney, VP of Branch Administration.
Looking ahead, the financial services provider plans to expand its use of PMG throughout its organization and begin leveraging the tool in new initiatives to help maintain compliance.
"Our team understands the challenges businesses face, especially in the financial industry, when it comes to augmenting and streamlining processes," said Joe LeCompte, principal of PMG. "With our business process automation solution, companies like 1st Franklin can do exactly that with total confidence that the approach they're taking and the technology they're utilizing is more efficient, less costly and ultimately, smarter."
To read more regarding how PMG is bettering 1st Franklin's organization, click here.
Many of the Global 2000 rely on PMG to deploy software solutions that streamline operations, reduce costs and improve efficiency. Our solutions give business and IT professionals a smarter way to automate business processes and improve collaboration. Ranging from IT financial management to identity management, employee onboarding and cloud provisioning, PMG's technology is quickly deployed and easily supports constantly evolving business needs. For more information, please visit pmg.net.
About 1st Franklin Financial Corporation
Since 1941, 1st Franklin Financial Corporation has been committed to serving the financial needs of customers with the respect and personal service they deserve. They operate through 284 branch loan offices throughout Alabama, Georgia, Louisiana, Mississippi, South Carolina and Tennessee, and are headquartered in Toccoa, Georgia. They also offer retail sales financing to local businesses. For more information, visit www.1ffc.com.