A common question in the consumer finance industry is if teaming with a loan origination software company for your product requirements will provide the solutions you need. Because companies are hesitant about spending money on software and not getting exactly what they need, they often build their own loan origination software, then regret that time-consuming and costly decision. Let’s discover different aspects of building versus leasing loan origination software:

Function Control

Many people argue that when you build your own software, you’ll have more control over how it functions and what it can do. This often comes with a hefty price tag, so you need to make sure that building your own software is worth the money.

When you team with a legitimate loan origination software company, your needs can be implemented into the software. We won’t hand you a one size fits all software package. Allied Business Systems implements your feedback – and feedback from thousands of other clients we have partnered with – to ensure your software is exactly what you need.

Software Flexibility

Maybe you’re leaning toward building your own loan origination software because you have specific needs that must be addressed. Building your own software would allow you to meet those specific needs but you must ensure you always have team members on staff who can adjust the software if need be or fix bugs.

The Allied Business Systems team has customized many software packages to ensure the client’s needs are met, and we have experts available around the clock to help you. Our software is flexible, ensuring your product will function as it should.

Budget Needs

Lastly, it’s important to consider your budget. Building your own loan origination software is always more expensive than teaming with a partner such as Allied Business Systems. You must take into consideration how much it will cost to build, install, deploy, and manage your system.

When you team with a loan origination software company, you can choose your products based on your budget. And, you’ll have a team of experts ready to help you if any need arises!

Do you have questions about ABS’ loan origination software? Contact us today.