Technology innovation increases revenue, profits and cuts paperwork

Bringing new clients on board is a time-consuming and costly process for many industries.

If we look at a mortgage broking business as an example, OpenUniversity research has found mortgage brokers work an average of 43 hours a week, or 2064 hours a year. At best, a sole trading broker writes 10 loans a month. If you do the maths, this means it takes a broker who manages client relationships manually spends at least 18 hours to complete a single loan application. Brokers commercially savvy or well connected enough to write more than 10 loans a month hire help to take care of the paperwork.

Innovators are now looking at businesses swamped by documentation so business, like mortgage brokers can benefit from innovation. If the ease of switching to new technology to simplify the way we work does not create a burning platform for businesses to change, the boost in revenue resulting from reduced time and effort to process applications may appeal. This is also supported by increased consumer appetite for the convenience of doing business online.

UploadOnce is a quick and easy way for businesses looking to replace manual applications and endless phone calls to follow up clients. To see how this digital solution can free up time to write more business and makes it easier for prospects to convert to clients, go to Uploadonce.com.au/how-it-works