Enterprise information management enables better student loan servicing

Nelnet, which focuses on educational loan servicing and payment processing, has deployed a new process management platform. The company has chosen the OpenText Process Suite to capture, process and manage its student loan borrower correspondence. The implementation is expected to allow more control and consistency with customers, better end-to-end visibility of the process, digital data capture and the capacity to continually improve processes.

Mike Randash, executive director at Nelnet Diversified Solutions, says, “OpenText Process Suite has helped Nelnet to focus on what’s important, removing the barriers and challenges associated with servicing student loans today. The OpenText solution helps us to focus on the customer, prioritizing work quickly and accurately, resulting in a better overall customer service experience and higher customer satisfaction levels.”

According to OpenText, Nelnet’s deployment of Process Suite has resulted in the following benefits:

• Student loan information received through the mailroom is now 100 percent digital, providing better information quality and traceability.
• Digitizing the information enables Nelnet to assign more appropriate task categories, leading to quicker and more accurate decision making, better workflow and automatic assignment of tasks.
• Work is routed more effectively to the appropriate team members.
• Nelnet has access to better reporting and analytics data.

Mike Randash adds, “Life without OpenText Process Suite would be unmanageable. Without it, our enrollment processing team would need to be double the size it is today, such are the efficiencies and productivity gains we have realized.”

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