The Money Source Takes Back Control Over Quality Control

CHALLENGE

Prior to bringing its quality control (QC) audits in-house, The Money Source outsourced all of its audits to a third-party provider. Though happy with the quality of audits coming from its outsourced provider, The Money Source chose to take QC internal to gain better oversight over the process.

“Outsourcing gave us a lack of control overall. We had limited ability to report on any of the data provided, which blinded us from any issues that needed resolution,” said Charles Delmolino, quality control manager at The Money Source.

“Important information wasn’t getting to the front-lines, and we had minimal transparency using the current process.”

This lack of transparency ultimately hampered The Money Source’s ability to discover the origins of its loan defects and take appropriate corrective action. To increase the value and results derived from its spend on QC, The Money Source began looking for a QC audit platform to support its in-house QC department.

“ACES has allowed us to become more efficient and confident, and we can now make better data-driven decisions with the robust reporting tools available in ACES.” Charles Delmolino. Quality Control Manager at The Money Source

SOLUTION

Upon the recommendation of its previous outsource provider, The Money Source selected ACES Quality Management & Control® Software and saw the value of the system immediately.

“From a budget perspective, the cost of the ACES platform was pretty reasonable, compared to what we were spending previously on outsourcing,” Delmolino said. “We set an aggressive implementation deadline of eight weeks and were able to meet that deadline, no problem.”

For The Money Source, the robust customization capability within ACES was the most attractive aspects of the platform, as it allowed the company to tailor the system to meet its specific needs. In addition, the reporting capabilities in ACES provided the QC team with tangible data, enabling the team to work with operations to drive quality improvement, visualize trending and develop Action Plans.