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Special Reports
Electronic Documents
Alliance Would Ease Ability to Offshore Doc Prep
By Bonnie Sinnock
Mortgage document management services provider Archive Systems here and international
mortgage industry services provider Global Realty Outsourcing, a subsidiary of Dallas-based H-Cube LLC, have formed
a strategic alliance. "Integrating our ability to digitize paper-based documents domestically and present
them to GRO's infrastructure in India for processing will create a highly optimized and differentiated onshore/offshore
offering," said Rick Kushel, chairman and chief executive officer for Archive Systems, in a company press
release. "By virtualizing documents, we have the capability to move work anywhere in the world to take advantage
of the right blend of costs, skills and expertise."
Johan Margono, chief technology officer for Global Realty Outsourcing, said in the press release that, through
its relationship with Archive Systems, his company is "uniquely positioned" to expand on its ability
"to develop innovative ways to lower cost and deliver value" to its clients.
The mortgage industry is just one of the vertical industries Archive Systems serves, but it is one of the company's
"key vertical areas of focus," according to senior vice president of marketing and business development
Hank Boggio.
The company - which numbers among its clients several brokers, lenders and third parties - sells its services on
a subscription basis and based upon the number of transactions involved, Mr. Boggio said.
The company numbers among the services it provides document imaging and data capture, Web-based image hosting,
document receipt, workflow automation and management, reporting and some indexing, he said. It does this through
its Aspen 360 "mortgage edition" technology, which uses an Internet-based "software as a service"
model that eliminates the need to deploy software on one's own computer, Mr. Boggio said.
The technology's origination-related uses include secondary market functions, such as loan pool sales, he said.
Among the advantages in using the technology for this purpose is that it is scalable and includes a repository
that eliminates the need to print out loan files and deal with overnight shipping, according to Mr. Boggio.
In an interview prior to its strategic alliance with Global Resource Outsourcing, Mr. Boggio said Archive has been
dealing with international or domestic partners on a client-by-client basis. "[We can] present docs overseas
that are [captured] here domestically and viewed by our clients," he said. "We're simply providing the
[data] repository on a secure basis."
Mr. Boggio indicated that the company has been watching offshoring trends and has noted that experiences in handling
U.S. mortgage industry functions - particularly on the quality control side - has been growing. When it comes to
the QC aspect of loan management "a lot more [is being] done offshore," he said.
Archive Systems has been recognized as one of the fastest-growing companies in New Jersey based on its percentage
of annual revenue growth over five years by Deloitte & Touche LLP. (Deloitte & Touche recognizes the top
50 technology companies on that basis each year and the company has been ranked within that top 50 list. To qualify
for the Technology Fast 50, companies must have had operating revenue of at least $50,000 in 2001 and $5,000,000
in 2005, be headquartered in North America, and own proprietary technology or proprietary intellectual property
that contributes to a significant portion of the company's operating revenue, or devotes a significant proportion
of revenue to the research and development of technology, according to Archive.)
Global Realty Outsourcing provides onshore/offshore outsourcing services to the real estate and financial services
industries, including analytical and underwriting support for capital markets, asset management service, and commercial
and residential mortgage servicing. The company has supported real estate transactions involving over 23,000 properties
totaling $300 billion in value. Its corporate parent, H-Cube LLC, employs over 4,000 and has operations in the
U.S. (Charlotte and New York), India (Chennai and Mumbai) and the United Kingdom (London).
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