GMAC-RFC (General Motors Acceptance Corporation-Residential Funding of Canada), a wholly owned subsidiary of GMAC Financial Services, is a leading private issuer of mortgage-backed securities and home equity loan asset-backed securities. The company leverages its strengths in securitization, lending and investment to offer a broad portfolio of innovative capital solutions to businesses in a variety of markets.
GMAC-RFC was repeatedly hitting capacity roadblocks with their internal fax systems. On a monthly basis, they typically receive 12,000 to 15,000 pages of faxed documents. Prior to GMAC-RFC’s rapid business growth in this area, all faxes received were managed by one staff position and then distributed accordingly. However as business continued to grow, so did the number of faxes received.
At the time of consideration, GMAC-RFC realized that an appropriate fax solution would not only have to meet the requirements of privacy legislation such as PIPEDA, but would also need to manage enormous volumes of faxed documents in a cost-effective and efficient manner. Communications lines need to be open at all times; customers cannot encounter busy signals and documents cannot be misplaced, as either could result in lost business.
MyFax is an low-cost, reliable, Internet-based fax service that allows users to send and receive faxes using email and the Web. It has the capacity to manage high volumes of faxes, enabling a quick turn-around on vital communications. MyFax eliminates fax machines, fax servers, and the recurring costs that go along with them, like supplies, maintenance, dedicated lines, and long distance charges. MyFax offers lower rates than the leading competition and does not require additional software.
With the implementation of MyFax, GMAC-RFC adopted a solution that could grow with them. All capacity issues relating to sending and receiving large volumes of faxes were eliminated. GMAC-RFC customers are no longer greeted with busy signals when trying to send information and MyFax is inherently more secure than other faxing alternatives. As part of the MyFax service, GMAC-RFC receives detailed, real-time reports, as well as delivery confirmations, auto re-sends for failed transmissions, and 24-hour operation. Misplaced faxes are no longer an issue.
GMAC-RFC concluded that MyFax provided the greatest degree of faxing safeguards appropriate to the sensitivity of information being faxed. The inherent cost savings of MyFax were also an important benefit. Implementation and administration costs were minimal, and given that MyFax virtually eliminated the need for fax machines, they were also able to save on those associated costs.
Within 24 hours of deployment, they were up and running. By implementing MyFax, they were able to offer better service and a more positive experience to their customers. Paperwork is processed more efficiently. Faxes are electronic, so they can be easily saved, forwarded, deleted, and stored. Since the adoption of MyFax, mortgage brokers are now able to send faxes directly and securely to a GMAC-RFC mortgage underwriter’s email box. Within the context of privacy legislation, this is the most important feature of MyFax, as it prevents unauthorized disclosure of personal information by eliminating excess handling of confidential information.
"MyFax is too good to be true. The service is quick to implement and integrate into my operation. New underwriters receive personal fax numbers right away and are instantly productive.
Lorraine Sato, Vice-President, Underwriting, GMAC RFC
|"We needed an alternative solution that could grow with us, and with MyFax we found it. Our problems disappeared overnight."
Vice-President, Underwriting, GMAC RFC
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