Grind Analytics Develops Employee Productivity Scorecard
for the Mortgage Industry
January 12, 2021
SAN DIEGO, Calif. — January 12, 2021 — Grind Analytics, a leading provider of data-driven business intelligence and customized data warehousing solutions, today announced the launch of a data-informed employee productivity scorecard, designed specifically for the mortgage industry, as part of its proprietary MODM™ product. MODM uses artificial intelligence (AI) and machine-learning technologies to manage complex and varied data sets in real time. The new employee scorecard helps improve performance tracking and productivity among mortgage company employees and is in direct response to the work-from-home realities facing so many businesses as a result of the pandemic.
Grind Analytics has been working with mortgage companies to finetune employee and team scorecard features and has created standard versions for the mortgage and fintech industries. Client response has been extremely positive and the company plans to expand the offering to other segments over the coming months, including healthcare and insurance.
Mortgage companies that have incorporated the MODM employee scorecard have seen improvements across several performance measurements including: an average decrease of 26% in cost-to-close, an average increase of 68% in average closings per hours worked, and an average decrease of 28% in the number of defects per loan.
“MODM allows companies to harness the vast data available and directly improve decisioning, operations, research and development, and now, employee productivity,” said Tim Armbruster, chief executive officer for Grind Analytics. “Our clients have been seeing major swings in performance output – some as high as 25% or greater – since moving people to remote work. Lenders we’ve worked with acknowledge that low interest rates have glossed over a lot of challenges of remote work within the mortgage and origination space, and this new employee scorecard helps assess and address those concerns.”
Studies show that most companies use less than 15% of their data, including content that can be used to monitor and improve employee productivity. A major reason cited is the time and cost to have internal teams collect and curate the data, and then design and create the analysis to understand the data trends. MODM has pre-built connectors, configurable dashboards and reports that can be deployed instantly without having to wait the months or even years it takes to build out internal resources for data management, analytics and modeling.
The employee scorecards allow companies to create real-time profiles that can instantly score an employee’s overall performance, against themselves and their peers, as well as the quantity, quality and efficiency of their work efforts. Assessments are made relative to company key pillars, and results can be broken down by time, transaction type, geography and other factors relative to the specific position. Trends are presented via user-friendly visual dashboards and demonstrate actual results versus expectations. AI is used to flag potential trouble areas, and exception detail is made available for auditing purposes. Individual results are benchmarked against their local and organization-wide work levels, and team results permit the assessment of both formal and informal teams.
Armbruster said client feedback to MODM has been universally positive which drove Grind Analytics to further enhance the product offering. “Companies know they need to be more data-driven but often get stuck when it comes to actually building something, even when they have a data team on staff,” he said. “Some of our best customers have spent months or years trying to do it themselves, hit roadblocks and then gotten us involved because of the time and expense – but especially the focus it takes – to do this the right way. Especially now, the importance of remote-employee productivity is a top priority, and the ability to instantly assess and compare individual and team performance is critical for businesses to operate efficiently in the new normal.”
About Grind Analytics
Grind Analytics provides data-based business intelligence solutions, centralized data warehouse management and customized information analytics across multiple industries, including mortgage, consumer lending, health insurance, investor operations and title insurance. Its proprietary data management products, powered by artificial intelligence and machine learning, allow companies to collect, curate, monitor and manage vast amounts of data with real-time results that improve decisioning, increase employee productivity, strengthen compliance and reduce operating costs by avoiding having to build expensive in-house data models. Grind Analytics has an extensive technical pedigree derived from leading data management for multiple Fortune 500 companies, and its all-shores software development team can accelerate and deliver projects on time and under budget in a multitude of operating models. San Diego-based Grind Analytics is privately held.