News
March 8, 2005

GHR Announces Availability of Workflow Automation System as Stand-Alone Product

Wayne, PA – March 8, 2005 – GHR Systems, Inc., one of the nation’s leading providers of lending automation technology, announced today that it is making its Workflow Automation System available for general release as a module of its point-of-sale product suite and as a stand-alone product.

GHR has previously offered the Workflow Automation System in conjunction with its LOS (Loan Origination Studio) system modules. In addition to integration with GHR’s proprietary solutions, the workflow architecture is designed as a generic framework to automate workflow across multiple systems including in-house developed and non-GHR vendor applications.

The Workflow application enables efficient Business Process Management (BPM) and consists of tasks, resources and transactions associated with business processes. GHR’s workflow engine assists in the automation and management of moving work items from one task to another through a business process flow, by evaluating data associated with a specific work item against a lender’s business rules.

GHR’s workflow encompasses a variety of functions such as scheduling, monitoring, event processing, exception handling, resource allocation, work queues, relative priority, load balancing and predictive modeling. Included with the system is GHR’s Visual Workflow Designer, a Visio®-like tool that enables business analysts and other non-technical subject matter experts to define business process flows. Additional components of the technology are business automation objects, the workflow run-time engine and a generic rules engine. The use of this workflow technology enables lenders to lower loan origination costs by improving process efficiency and quality.

“By utilizing GHR’s Decision Engine and Workflow Automation, we can preset rules to determine what tasks and work queues to immediately automate, which enables us to reduce cycle time and the costs associated with manual processes,” said John Wackerle, CIO of Washtenaw Mortgage.

Automated workflow tasks include data validation, auto-generation of conditions/stipulations, third-party service ordering, generation of documents, scheduling of closing, collection and processing of funds, status updating and a wide array of other mortgage processing and closing tasks. Tasks requiring no manual intervention can be completely automated, while tasks requiring manual input can be streamlined.

Allan Redstone, CEO of GHR Systems said, “GHR’s Workflow System enables lenders to significantly reduce processing time and expenses by decreasing the number of manual ‘touches’ and automating as much of the origination process as possible. Mortgage lenders are focused on compressing loan production cycle time and costs as much as possible, which is essential for remaining competitive. Aggressive lenders are working on how to go from the loan application stage to shipping the closed loan to the secondary market in seventy-two hours or less. Automated workflow technology is essential to achieve this level of productivity and can also substantially reduce labor, training and support costs. With truly automated workflow, lenders can finally develop business operations that can scale, have minimal fixed costs and provide a competitive advantage in the rapidly changing lending industry.”

About GHR

GHR Systems, Inc. provides loan originating, processing and closing systems for the residential mortgage, consumer and small business lending industries. GHR’s systems are used by large, mid-sized and emerging lenders to better market, sell and close loans through all distribution channels, including wholesale, retail, consumer direct and correspondent. Fifteen of the Top 50 U.S. Mortgage lenders use GHR’s systems. GHR is a Microsoft Gold Certified Software Development Partner. For more information, please visit www.ghrsystems.com.

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For media inquiries, contact Tricia Schafer-Petrecz at (484) 595-2125, write GHR Systems, 640 Lee Road, Wayne, PA 19087, or e-mail tricia_petrecz@ghrsystems.com.

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