Broker thought leadership: Cummings talks productivity

In an environment of flat revenue and slow credit growth, brokers are looking at new options to maintain momentum. CBA's Kathy Cummings offers practical tips on how brokers can boost their productivity.

In an environment of flat revenue and slow credit growth, brokers are looking at new options to maintain momentum. CBA's Kathy Cummings offers practical tips on how brokers can boost their productivity.

  1. Remove waste and reduce rework

Do things right the first time; avoid errors in the application and ensure all documentation is collected and delivered with the application at time of submission. Having all required documentation will reduce the wait time for decisioning and helps to take the customer off the market.

  1. Cut out excess processing

If you are printing documents at point of sale, check for errors and ensure the customer has signed before submitting the application.

  1. Make a plan – and stick to it

At a business level, brokers should have a documented business plan with objectives and business goals. A visual management board is also a useful tool to track your business.

  1. Keep it simple

Clean, organised workplaces and documented processes will also help to reduce the amount of time spent looking for things and prevent staff from doing the same thing twice.

Following these simple steps, says Cummings, can not only make brokers more efficient, freeing up time for the important tasks, but also deliver a better experience for the customer, leading to more business and, ultimately, higher profits.

For more essential thought leadership from the big names in the industry, look out for MPA’s forthcoming Business Strategy special report for your complete guide to business success.

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