Mortgage Women Magazine November 2020

Page 28

P R O D U C T D E V E L O P M E N T V S P R O D U C T I M P L E M E N TAT I O N

WHO IS RESPONSIBLE FOR PRODUCT DEVELOPMENT AND MANAGEMENT VERSUS PRODUCT IMPLEMENTATION AND ADOPTION?

BY JAY A R N E JA

To answer this question, we must first understand the players in the landscape: 1. The Service Provider(s): The technology companies that permit white labeling to meet a brand’s needs, vendors that provide industry utilities, and third-party service providers, such as IT support companies and departments, flood certification companies, etc., 2. The Client: the Mortgage broker/lender, and 3. The End Client: the borrower. Who conducts product development and management? The service providers do. Who performs implementation and adoption activities? The client must do these activities by strengthening and enabling processes like vendor management and release management. Additional activities include: Understand the roadmap of your service providers: Get in front of the changes and discuss them with all stakeholders in your organization. • Create a library of release notes from your service provider(s): Ensure these notes are well circulated and discussed in your organization through set forums like monthly steering council meetings. • Conduct training and self-assessment tests on new products you introduce to staff: Assessments do not have to be lengthy; they can be 2 - 4 questions. You will have a visual of how departments are understanding and using the technology you bring into the organization. Establish access management and access review processes for systems: Many times, companies buy licenses to find out staff members were never logging in.This brings us to how many different places in your organization does the same data reside. Do you need as many licenses/access points?

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