cfX supports state housing finance agencies (HFAs) in the creation and maintenance of housing programs, including improving financial strength and minimizing risks. cfX has extended its service offering to include technology and software dedicated to HFAs and the challenges they face, including maintaining regulatory compliance in which process plays a key role.

The Challenge

In a heavily regulated environment overseen by the Securities & Exchange Commission (SEC), the challenge was to establish and standardize procedures to demonstrate the integrity of the recommendations made to HFAs. While the SEC cannot challenge the actual advice given to HFAs, the underlying process by which recommendations are made is subjected to rigorous scrutiny and oversight.

It was vitally important to establish procedures to manage the recommendation-making process and ensure nothing fell between the cracks, while demonstrating that cfX had fulfilled its obligations and duties was a critical requirement.

As a creator of cutting-edge technology for housing agencies, and an industry innovator in recognizing the importance of procedures before even regulators required them,  cfX understood the need to improve how work was performed, while delivering increasing value to customers.

The Environment Before Lean BPM

cfX had a solution in place, Task Trader, for managing and tracking bugs as software and technology was developed. However, this provided very limited functionality for general deployment across the organization. In an increasingly frenetic work environment, with escalating demands from both regulators and client agencies, cfX management identified a need to automate as much work as possible.

Managing and tracking work was difficult, with no ability to track due dates and prioritize tasks across the organization. Additionally, cfX recognized the need to improve communication and collaboration between staff, so everyone involved could understand what needed to be done to meet regulatory demands and client expectations.

The Solution

cfX undertook a review of task and work management solutions, and selected JobTraQ, the Lean BPM pioneer.

“JobTraQ allowed us to automate,” says Richard Godfrey, Principal Consultant within the Guidance Services Group, “and this opened the door to regimenting procedures and gaining visibility into work activities.”

JobTraQ was quickly deployed and operational, with existing procedures enforced at source to ensure that all tasks are carried out as required. “We found that about 75% of our work was simply not visible,” says David Breitenbach, Manager of Work Products Group, “but after deploying JobTraQ we were able to see tasks and deadlines across the entire organization.”

“JobTraQ’s communication features allow us to talk to each other,” says Godfrey, “so now we are all able to focus as a team on work priorities and meet our deadlines.”

The Results

By enabling automation, the cfX team establish and enforce procedures for everyone, while demonstrating integrity and diligence in the formulation of recommendations for agency clients. This is in a highly regulated environment and where client demands are increasingly sophisticated.

“JobTraQ allows us to focus on improving,” says Breitenbach, “because we no longer carry due dates around in our heads and we can prioritize work across everyone.”

By deploying JobTraQ, visibility has been significantly improved across cfX, while processes now exist for everyone to follow with nothing slipping between the cracks.

Benjamin Madorsky, cfX Chief Compliance Officer notes, “JobTraQ ensures we maintain and build upon our competitive advantage.”

About cfX

cfX is dedicated to serving only HFAs with financial and technology solutions, and has been advising clients for almost 40 years. cfX is a market leader and innovator in the field of information, software and technology solutions to help state housing agencies make sound tactical and strategic decisions based on fact and sound projections.

About JobTraQ

JobTraQ is the pioneer of Lean BPM, and delivers a powerful business toolkit which requires no coding or specialist development skills. Processes and workflows can be created and operational within hours, by ordinary business people, including business analysts, team leaders, and stakeholders.

Take Control of Your Business Processes

With JobTraQ your business processes are controlled, measured, and continuously improved. Allowing you and your organization to enjoy new levels of success. What are you waiting for?

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