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This week I’d like to introduce one of our newest products: Global Tables! Global Tables allows you to easily upload, create, and access tables. These tables are then available to be used in our other products, including the Automated Workflow Engine, which I’ll talk about later. The Global Tables app is one of many apps currently available in the GOLDPoint Systems App Portal.

Within the Global Tables app, you can create, edit, view, import, export, and delete evaluation and data tables. Think of it as a central hub for tables. Currently, Global Tables allows you to work with two different types of tables:

  1. Data Tables
  2. Evaluation Tables

Data Tables

Data Tables allow you to upload and access basic tables. You can also edit, view, import, and export basic tables. In addition, you can add and delete functions. Data Tables are currently available only for a specific project being created to know your customer better. We will let you know as soon as that fun, new project is completed. But, as you can see, we are getting prepared to use the Global Tables app in a variety of ways throughout multiple products. It’s pretty exciting!

Example of a Data TableExample of a Data Table

Evaluation Tables

Now we’re getting down to business. Evaluation Tables allow you to upload and access multifaceted tables, the key word here being multi-faceted. Plus, it also gives you the ability to edit, view, import, export, and add and delete functions.

The best thing about Evaluation Tables is that they can be used by the Automated Workflow Engine to simplify the decisioning process. You can use a single table to perform an evaluation on potential borrowers in the place of several decisioning steps. Plus, the table can easily be inserted into multiple engines, which can save you the trouble of constantly creating the same steps throughout several engines. In addition, tables are versatile and can run in the background of an engine or be added as a step within the engine. Evaluation Tables save you time and simplify the entire process of creating engines in the Automated Workflow Engine. They are pretty amazing that way.

How about we dive into an example so you can get a glimpse of how useful tables can be.

Creating an Evaluation Table

Let’s say that you wanted to add a table that designates that if the collateral value is a certain amount, the loan amount can only be up to 30 percent less than the collateral value. The reason for 30 percent less is that if the borrower were to default on the loan, it would require your institution to hire a repossession company to repossess the vehicle, as well as re-sell the vehicle. All those extra fees mean less income for your institution. Therefore, your institution's policy might be that you only lend 30 percent of the collateral value.

Before we build the table, we need to define two custom variables: CollateralValue (which is a number) and LendingLimits (also a number). This can easily be done in the Automated Workflow Engine and shouldn’t take you more than a few minutes.

Then, because we'll be using CollateralValue as an evaluator, we will need to ensure CollateralValue is a step in our engine. We could also create a table defining CollateralValue. But for this example, we'll keep it a step. This will also only take a few minutes in the Automated Workflow Engine.

After we've created those variables, we are now ready to create the table.

  1. Open the Global Tables app from the main App Portal page. If you don’t see the app, then get GOLDPoint Systems to assign you with security for the app. The tile for the Global Tables app looks like this: GlobalTables-app
  2. Once the Global Tables app is opened, click the Evaluation Tables tab. The first time you open Global Tables, there won’t be any tables and the page will look like this (see below).GlobalTables3
  3. Click on the New Table button to bring up the Create New Table dialog.GlobalTables4
  4. We name our table , "Collateral Value Maximum Spending Limit."
  5. Click Next in the bottom right corner to move to the Evaluators section.
  6. To add an evaluator, we enter the name "Collateral Value" in the Column field.
  7. In the Variable field, we start typing "Collat" and when "CollateralValue" shows, we select it.
  8. Click to move to the Updaters section.
  9. To add an updater, we enter "Maximum Spending Limit" in the Column field.
  10. In the Variable field, we start typing "Lending" and when "LendingLimits" displays, we select it.
  11. Select a default value for the updater from the Default Value field. This will be applied if the applicant does not match up with any of the evaluators. We'll set this to "1000."
  12. Click Create Table to create your table.

Once our table is built, we can easily add rows of information that details the maximum lending limits if the loan collateral value is within a range.

In our example, we added rows of 1000 increments. Meaning, if a collateral item was worth more than $9,000, for example, the maximum amount that can be loaned to the applicant is $6,300. We could have broken the increments down even further, such as $500 increments. Because if you’re using Global Tables, you can pretty much do what you want. Global Tables gives you a lot of freedom to create tables for exactly what you need.

GlobalTables5

And that’s it! That’s all it takes to create a unique table that can be easily inserted into multiple engines throughout the Automated Workflow Engine. And you only have to create it once. Plus, you can go into Global Tables whenever you want to edit or change the table as your institution’s needs change. And those changes will automatically be reflected in all the engines that use the table. We really have thought of everything.

Want to see Global Tables in action? Schedule a live demo with us today to view the many features Global Tables has, ask any questions you might have, and see exactly how Global Tables works. I think you’ll be impressed.

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