Application Processing

Don’t let manual processes slow things down. With P2 Application Processing workflow, you stay on top of the work load and keep applications moving. Email notifications and real-time status updates keep everyone informed of where applications are in the process. Pends help you track exceptions and get them resolved quickly. You can configure the stages applications go through to match your business process. For customers who manage their own underwriting, business rules can be set up to automatically approve a merchant.

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HIGHTLIGHTS

Application Packages

When a sales rep submits a closed deal, an Application Packages is created with all the appropriate documents attached. The application package has all the information entered by the sales rep and can be configured to capture the information you need during back office processing.

Configurable Workflow

You may have a simple back office workflow or a complex one. Depending on what functions you are doing in-house--underwriting, boarding, deployment, activation, and training—the application processing workflow is configured to match your business process. The application package is used to track the deal as it moves through your post-sales workflow and keep everyone informed of status updates.

Pends

When exceptions occur, you need to be able to handle them quickly. And you need to track open items to be sure that issues are resolved in a timely manner. With P2’s Pend functionality you can record the exception, email a Pend notification to the sales rep and other parties, and set the application to a “pended” status. The application can’t move forward in the process until the Pend is resolved. You can set up time-based triggers that will send follow-up reminders so that applications don’t get stuck in the process.

Underwriting

The P2 Underwriting module allows you to track all the information you need to make credit and risk decisions. Integrations such as credit bureau pulls, MATCH check, identification verification, pull all the relevant information into a single place. You can upload supporting documentation and record relevant notes. Business rules drive what documents are required based on the merchant’s profile. The factors evaluated during underwriting are recorded so you have a snapshot of the merchant at the time they were approved. Auto-approval rules can be set up to approve merchants when they meet certain criteria.

Charts and Reports

Configurable reports and dashboards allow you to monitor the performance of the application processing workflow. You can create metrics about how long it takes to move a deal from one step to another and include only business hours in the calculation. Dashboards can be run as “my data” or “my team’s data”, giving both individuals and managers insight into the process and helping them make decisions on improving it.