GREENWOOD VILLAGE, Colo., Oct. 25, 2019 /PRNewswire-PRWeb/ -- The digital business transformation and ERP consulting firm, Panorama Consulting Group, recently published guidance for lenders looking to streamline their operations and reduce their cost to produce. The article details how modern ERP software, along with business process management, can help lenders achieve these goals.
"As veterans in the mortgage lending space and as operational efficiency experts, we have seen firsthand the benefits of fully-integrated ERP systems," said Vanessa Davison, CMB & Managing Director at Panorama. "This technology can replace a patchwork of disparate systems to make complex loan processes streamlined, while dramatically improving customer service."
According to the article, there are many functional areas that lenders can streamline by implementing ERP software. These include loan origination, back office accounting, data management, secondary marketing, loan flow, compliance, customer service, loan servicing and more.
The article also suggests that the mortgage banking industry has historically been slow to adopt cutting-edge technology. Panorama believes this is a primary reason why most mortgage bankers lack loan-level accounting detail and visibility into which loans are the most profitable and why.
"We can count on one hand the number of mortgage bankers that can tell us on a loan-by-loan basis what their cost to produce is," said Calvin Hamler, AMP & Managing Director. "We are here to tell you that the next iteration of successful lenders will be those who can effectively automate to increase their number of files-to-employee efficiency measure, decrease their loan cycle time and achieve best price execution in secondary and capital markets, as well as for their end customers."
Lenders can access the article here: https://www.panorama-consulting.com/loan-process-management.
About Panorama Consulting Group
Panorama Consulting Group is an independent, niche consulting firm specializing in business transformation and ERP system implementations for mid- to large-sized private- and public-sector organizations worldwide. One-hundred percent technology agnostic and independent of vendor affiliation, Panorama offers a phased, top-down strategic alignment approach and a bottom-up tactical approach, enabling each client to achieve its unique business transformation objectives by transforming its people, processes and technology. Panorama's services include ERP Selection, ERP Implementation, ERP Contract Negotiation, ERP University, Digital Strategy, Technology Assessment, Change Management, Human Capital Management, Business Process Management, M&A Integration, Turnaround Analysis, Crisis Management, Financial Restructuring, Operational Restructuring, Project Auditing & Recovery and Software Expert Witness Testimony. Learn more at https://www.panorama-consulting.com/.
SOURCE Panorama Consulting Solutions
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