Smartr365 – Boosting Productivity
Brexit may be the burning issue dominating the agenda at the moment. However, a longer standing economic issue which Chancellor of the Exchequer Philip Hammond has been at pains to address is the slump in UK productivity growth.
Most developed economies have faced a productivity slowdown since the financial crisis, stemming from lower levels of capital investment by businesses. However, the UK has seen the sharpest decline amongst G7 nations.
Hammond highlighted the issue when he spoke at an event several weeks before this year’s budget saying: “Much of the disaffection with our politics and our society, I believe, is simply a reflection of the fact that, for many people, ten years have gone past now without a decent real wage increase.”
He added that, with an uplift in productivity, “we could put right many of the challenges that we are facing across our society.”
This followed a 2016 pledge to tackle the production gap, with a relaxation of borrowing rules to launch a £23 billion fund for investment in housing, transport and innovation.
However, the productivity crisis shows no sign of abating.
Economists assert that investing in technology would go a long way to solving the issue, as this would support workers to become more efficient and increase output.
It probably won’t surprise you that, when it comes to mortgage advice, this is something that we at Smartr365 advocate strongly.
Our platform streamlines the process of obtaining a professionally advised mortgage, typically condensing a 10-hour process into a matter of minutes thanks to our cloud based, end-to-end system.
Home-buyers fill in an intuitive client fact find, assisted by the latest smartphone data capture techniques and the ability to submit documents electronically and securely. Affordability and eligibility can then be checked using our inbuilt calculator. Once a decision has been made, applications can be submitted and tracked in real time, with no re-keying of data required at any point. Throughout the process, the mortgage broker is on hand to advise and answer any questions.
This is a perfect example of how technology can increase productivity. In this case, a significant administrative burden is removed, allowing the mortgage intermediary to focus on advice and servicing more clients.
We would love to chat with you about how Smartr365 can support your business. For more information, or to organise a free demo, please get in touch using the details below.
All the best,
Founder and CEO