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3 Signs that It’s Time to Switch Your LOS

3 Signs that It’s Time to Switch Your LOS

Reviewing your current LOS may feel like a daunting, overwhelming task. But avoiding this critical task could result in falling behind in the consumer finance industry, losing potential borrowers and team members, and missing out on profit. If any of the following signs are common occurrences within your loan origination system, it’s time to make the switch.

1. Implementing Features Instead of Addressing the Entire LOS

Adding features to an old LOS does not eliminate inefficiencies and frustrations. It only provides a partial fix. To address performance-related issues, you must address the entire product – both the user interface and the database. Our customers benefit from regular updates made to their LOS. Additionally, when you use our incredible loan origination and management system, absVision, you will also benefit from a system that:

  • Boasts APIs
  • Offers Automation
  • Streamlines Decisioning
  • & Simplifies End-to-End Lending

You can read more about these important features in our blog – 4 Vital Features of Loan Origination Software.

2. Difficulty Modifying Processes or Configuring Workflows

If your team’s workflow is inefficient, you must be able to modify processes and configure workflows to ease their tasks. An old LOS can make configurations and modifications very difficult to accomplish. The ability to address workflow issues in a time-efficient manner can drastically improve morale among the team, resulting in more productivity.

3. Lack of Automation

An automated LOS will move the application along until the need for a team member arises. This maximizes time and reduces processing costs. Our premier loan origination and management software, absVision, maximizes productivity and streamlines workflows.

Your LOS can be your biggest headache or act like your star team member. We’re here to help make sure it’s the latter.

When you choose absVision, you gain a premier LOS and a partner who is passionate about YOUR success. Call us today with your questions: 800-727-7534