Tuesday, August 3, 2010

Your LOS & Your Brain

I recent discussions I've begun to make analogies between an LOS and the brain. We use both for all memory/data storage, processing of information, recording thoughts, and executing daily functions. Also, just like the brain I'm pretty confident most lenders use only about 10% of their LOS's capability. To maximize potential both the LOS and the brain must be used and trained correctly; it's a learning process which takes time.

So many lenders struggle with researching and deciding on a preferred LOS but then barely use most of the value added services they offer. Why struggle with deciding whether or not to buy an iPad to eventually just use it as a digital picture frame? Some of the most important and impressive technological features of these systems go unused.

A good LOS had the ability to:
-Improve client retention
-Integrate and track lead flow
-Safeguard policy and program guidelines
-Ensure compliance
-Streamline data and process flow
-Improve oversight and accountability
-Reconcile profitability
-Alleviate data integrity concerns
-Offer detailed reporting and pipeline management

How effectively and efficiently are you managing your pipeline and business flow?

How effectively and efficiently are your using your "brain"?

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