Act! Blog

The benefits of CRM & your LOS ‘talking’ to each other

Integrating your loan origination software (LOS) and your CRM may be the most effective sales investment your bank can make.

Need more time to sell?

Forrester Research (along with other research) reports that salespeople spend less than 35% of their time selling.  Each member of your sales team was hired for their skill, expertise, and natural talent for sales. You want them to be using those gifts as much as possible, and to bring in as much sales revenue as possible for your business. What you don’t want them to be doing is wasting their time building spreadsheets and entering and reentering data into a variety of systems.

Would you like your team to have more time to sell?  Are you tired of things that waste your team’s time like dual data entry, toggling between your CRM and your LOS to manually collect data for a pipeline report, or entering data into your CRM?  Are you tired of not knowing a loan’s current status,  a payoff, renewal, or semi-annual loan review?

An integration between your LOS and Act!

An integration between your LOS and Act! means that when loan data is updated in either platform, it syncs automatically to the other.  For example, when a borrower’s information is updated in your LOS, those data are pushed automatically to Act!. Another example is when the loan status changes in the LOS, it is immediately updated in Act! (along with a text notification). This means your team doesn’t have to waste time transferring data and documents between software platforms.  This frees them up to work on high-value tasks that earn you money!

Additionally, integrations minimise the human error that is just part of data entry.

How To Get Your LOS and Act! to ‘Talk’ To Each Other?

A software integration is a connection between two systems – like your LOS and Act! or Act! and core processor.  Basically, it is a way to make your systems ‘talk’ to each other. An integration between your LOS and Act! means that when loan data is updated in either platform, it syncs automatically to the other system.  But when Act! and LOS ‘talk’ to each other there are many more benefits like:

  1. Reduce Act! data entry
  2. Eliminate double (redundant) data entry minimising human errors
  3. Automate loan stage & status updates
  4. Updates related to annual loan reviews, renewals, and payoffs
  5. Automated & real-time reports, dashboards & analytics

Integrating your LOS & Act! is one of your most effective sales investments.

All these benefits are worth your time and investment.  In just a matter of a few weeks, your LOS and CRM can be ‘talking’ to each other. To learn more about this integration and pricing here.

About the author

Ron Buck is the Chairman & CEO of Performance Insights – an industry-leading software company serving the financial services industry.  Ron is a recognised industry leader and has taken two companies public prior to Performance Insights.