As digital transformation continues to present opportunities and change the way we work (gig economy, remote workers, etc.) business processes increasingly involve multiple, loosely-coupled stakeholders needing to share information via the cloud. Sharing information involves sharing files and without a solid approach and an industry-leading collaboration platform, securely sharing files and delivering information to partners when needed can be challenging.
These challenges are not unfamiliar to folks in Commercial Real Estate Finance. As depicted below, with many quickly moving, independent stakeholders responsible for sharing a significant number of files containing critical information, getting deals “off the street” quickly can be difficult.
Figure 1 – CREF stakeholder collaboration can be challenging
Consider the challenges facing First Mortgage, a fictitious Lender offering financing for multiple asset classes (Multifamily, Office, Industrial, Senior Housing, etc.) via multiple products and services (Fannie, Freddie, FHA, Bridge, etc.). The volume and diversity of their business requires expertise that is provided by both internal and external stakeholders. Without the ability to onboard partners easily, monitor and control the collaborative file sharing and integrate content received from partners into back end systems and business process workflows, First Mortgage is burdened with inefficiencies that degrade profitability and make it difficult to compete in the digital age.
The good news is…cloud-based technologies are a great equalizer and although historically slow to adopt enabling technology, First Mortgage is well positioned to realize the benefits of digital transformation and technologies such as Thru OptiPaaS™, the first and only cloud-native Managed File Transfer (MFT) solution.
With OptiPaaS, First Mortgage can create and publish Transports (Figure 2) that partner Organizations (Figure 3) can subscribe to and get “plugged into” specific deals, processes, etc. Partner Organizations manage their own endpoints (SFTP, S3 buckets, LAN devices, email, etc.) independently eliminating the need for First Mortgage to maintain connectivity. Additionally, these Transports can be configured to support B2B integration via API-based integration with the OptiPaaS platform or integration platform connectors like Thru’s MFT Connector for Mulesoft™.
Figure 2 – OptiPaaS Transports plug partners into deals
Figure 3 – First Mortgage Organizations (internal and external) subscribe to Transports
Finally, First Mortgage and partners would have complete visibility into all file exchange activity with all organizations including dashboard based real-time status, activity detail, content validation results, etc. as well as detailed regulatory and operational compliance reporting. (Figure 4)
Figure 4 – First Mortgage File Dashboard provides filterable, drillable visibility into all file exchange activity
More good news! With OptiPaaS, First Mortgage can transform into a seamless business ecosystem and start realizing the following benefits very quickly:
- Scalable – A cloud-native platform eliminates implementation and maintenance costs and provides infinitely scalable support for an unlimited number of partner stakeholders
- Flexible – Built to stand alone, expose APIs for custom integration and/or connect to leading integration platforms via Thru’s connectors – enabling enterprises of all sizes and complexity to benefit from one enterprise-wide, file transfer platform
- Pricing – “Pay as you Go” pricing is transaction-based – starting under $5K annually (1000 transactions per month) for SMB
- Timely availability of critical deal information to all stakeholders at every step through the process
- Quickly onboard partners and enable them to self-service; adding endpoints and process subscriptions without requiring burdensome enterprise effort
- Supports integration to improve automation (alerts, notifications, process events, etc.) – enabling lenders to execute quickly
- “Single Pane of Glass” visibility into collaborative file exchange activity across the entire ecosystem
- Monitoring and control improves the completeness and accuracy of deal information through business processes – eliminating redundancy, supporting “one touch” processing and improving quality
- Detailed activity tracking supports reporting, alerts and notifications
If you would like to learn more how OptiPaaS can simplify file exchange workflows for your organization, choose one of the following: