An organization found that the task of processing a credit application was extremely slow and inefficient, taking anywhere from six days to two weeks to complete. After a credit request was received by phone it was recorded on a piece of paper. This paper was then passed along to credit checkers, pricers (who determined what interest rate to charge), and to many other individuals who performed single, compartmentalized tasks. Credit applications typically were bounced around to different areas before they were properly completed. How does could this process be re-engineered?

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The Answer of An organization found that the task of processing a credit application was extremely slow and inefficient, taking anywhere from six days to two weeks to complete. After a credit request was received by phone it was recorded on a piece of paper. This paper was then passed along to credit checkers, pricers (who determined what interest rate to charge), and to many other individuals who performed single, compartmentalized tasks. Credit applications typically were bounced around to different areas before they were properly completed. How does could this process be re-engineered?

An Organization Found That the Task of Processing a Credit