How to Simplify Your Mortgage Tech Stack to Drive More Conversions

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How to Simplify Your Mortgage Tech Stack to Drive
More Conversions
Welcome back to Building Up Better, Shapes
blog series aimed to help brokers build up
stronger, more profitable businesses in 2021 by
harnessing the power of technology. 

• In our last post, we quantified how technology
  automation can save brokers tons of time, drive
  more revenue, and help create more efficient
  workflows. Today were going to dive deeper into
  an area many brokers struggle with getting your
  LOS and CRM to integrate with one another.  

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For firms large and small, the benefits of a
seamless LOS integration can be huge not only
can your teams drastically reduce hours per week
on manual data entry between multiple systems,
but proper syncing between systems keeps your
data organized and helps you drive more efficient
sales. Lets take a closer look Benefit 1 CRM
LOS Syncing Reduces Time Spent on Manual Data
Entry  Weve discussed this in our previous
posts, but the pitfalls of manual data entry only
grow exponentially as your team size does. For
those firms who insist on using manual processes,
23 of salespeople cite data entry as one of
their biggest challenges and time sucks. For any
size business, these numbers arent
sustainable.  Instead Choose a CRM that
integrates directly with an LOS like Shape
LendingPad, so that whenever you create a new
loan, all necessary client details automatically
sync between systemsin the correct
formathelping your team to seamlessly originate
new loans while maintaining data accuracy and
compliance in multiple places. This digital
paper trail ensures your team is always working
with the most up-to-date client data.  Bonus No
more manually uploading and tweaking 3.2 files
into your LOS until your face turns blue when
you opt for a workflow with two-way syncing. 
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Benefit 2 Good Data Management Will Save You
Tons of Money Well never get tired of preaching
the benefits of good data management because the
flip side is too scary for businesses even to
consider Research has shown that bad data is on
average costing businesses 30 or more of their
revenue. Research firm Gartner has found that the
average cost of poor data quality on businesses
amounts to anywhere between 9.7 million and
14.2 million annually. At the macro level, bad
data is estimated to cost the US more than 3
trillion per year. In other words, bad data is
bad for business. Instead When your CRM
directly syncs with your LOS, youll
automatically eliminate data entry errors and
ensure all your client data is clean and
accurate. Not only will this benefit your teams
but also your clients. Bonus With seamless CRM
LOS syncing, you can create a more efficient
lending workflow by automating updates to clients
and your people, like firing off emails to let
borrowers know about changes in their loan status
or passing off deals to the right team at the
right time. 
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Benefit 3 Shorten Your Lending Cycle and Build
Relationships In todays fast-paced lending
environment, speed-to-close is second only to
building great client relationships, but ensuring
your LOS CRM work together can actually help
you accomplish both.  Close deals faster Your
follow-up speed to new loan inquiries will
determine your conversion rates...and your
revenue potential. When your LOS and CRM are
working in harmony, youll move prospects through
your pipeline quicker by efficiently qualifying,
distributing, and communicating with
prospects.  Build relationships in the process
When it comes to building great client
relationships, CRMs take the time burden of
manual outreach off your team. Instead, build
robust marketing drip emails, send status change
alerts, provide a client portal where borrowers
can seek out information they need, and provide a
human touch that nurtures throughout your
process.  The result? Youll close deals with
more speed and satisfaction to help you drive
referrals. 
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Take Action Today Want to get started with
seamless LOS CRM syncing for your mortgage
business? Weve helped thousands of brokers build
more efficient workflows that have helped them
grow revenue and save time. Its not a secret
its CRM science.  Schedule a chat with us to
learn how we can help grow your mortgage business
Article Source- https//setshape.com/blog/how-t
o-simplify-your-mortgage-tech-stack-to-drive-more-
conversions