Have you ever thought about your loan origination system (LOS) as an employee? If you consider the metaphor, your LOS is either the most productive employee you have or an employee that is wasting your money and time. And even worse than wasting your company’s money and time, this employee affects every single one of your other team members! Consider the following ways a great employee – your LOS – can help increase your revenue:
1. An LOS Allows You to Process More Loan Applications
Employees have a finite amount of time to process applications and manage loans. Unfortunately, that works against revenue in the consumer finance industry! To increase revenue, respect your employees’ capabilities, and provide quality service to your customers, your company must utilize a premier loan origination and management system. A LOS can automatically decision applications based on the pre-determined qualifications you configure for the company.
2. An LOS Prevents Delays in Loan Applications
When your loan origination system is processing loan applications, it will refer to the criteria that is established by your company. This automates the loan application process and prevents delays. This benefits both your company and customer! You don’t want to lose a potential customer due to unnecessary delays and/or abandonment during the loan application process. Are you unsure if your company needs a new LOS? Ask yourself these questions:
- Is my current LOS efficient?
- Does my current LOS act like a silo?
- Do I have provider support with my current LOS?
Discover why these three aspects of an LOS are so important in our blog: 3 Signs You Need to Update Your Loan Origination & Management Software.
3. An LOS Helps Your Company Achieve a Competitive Advantage
When your employees’ time is freed up to focus on customer service (thanks to a streamlined LOS and loan application process), your company is simultaneously gaining more customers and making more profit. This will drastically help your company achieve a competitive advantage in the consumer finance market!
A Look Into absVision, Our Premier Loan Origination Software (LOS)
Allied Business Systems wants to be part of your success. We know that our premier loan origination software, absVision, can help reach your company’s goals. Our LOS is robust yet user-friendly. absVision, can be seamlessly integrated into many other applications and service providers, including:
- Crypton Mobile
- Plus, many more!
Don’t go another day without a loan origination and management system helping your company thrive and, ultimately, increasing your revenue! Call us today with your questions about partnering with us: 800-727-7534