A shockingly high percentage of large-scale IT projects undertaken by mortgage lenders fail badly to meet management's expectations -- especially LOS replacement projects. Research has shown that these failures largely result from upfront mistakes made in clearly defining the business vision and specific goals to be achieved, pre-planning and assessing risks in sufficient detail, effectively procuring suitable technology products from capable vendors, and, finally, managing the internal implementation processes. Lenders in today's environment simply cannot afford “death by a thousand cuts” from suboptimal IT performance. IT agility is just too important a factor in being a competitive and successful mortgage company!
Against this backdrop, STRATMOR's IT Advisory Services works to help lenders address the following:
- What technology do we need to achieve our business vision?
- How well do our current systems and technology vendor relationships serve our needs?
- What IT solutions available in the market are best suited to our needs?
- What is the most effective road map for specifying, procuring, implementing, and supporting the technology we need?
- Do we have the right people in our IT organization? Is our IT department organized to function effectively?
We are also often called upon to lead or assist in major client business process improvement projects that involve origination and fulfillment operations in both single- and multi-channel companies. In these situations, we try to function as part of a lender's in-house IT organization. Our goals are to mitigate project risk, improve the likelihood of success, and help clients build an in-house IT organization that can function effectively in the future without STRATMOR involvement
For more information about our IT Advisory Services,
contact us today.