Your LOS contains a lot of information about your business; after all, it’s your system of record for every loan application that goes through your institution. Yet, when managing operations and sales production is spreadsheet driven, it makes taking a data-driven, proactive approach extremely difficult. The entire method of collecting, transforming, processing, and interpreting the data is highly manual and time consuming that people usually end up not doing it as much as they say they will. So, the question remains, how do you take all that data stored in your LOS and turn it into actionable insight to drive success? At the end of the day, data is useless unless it’s actionable.

How do you take all that information stored in your LOS and turn it into actionable insight to drive success?

Well, with the right approach, you can turn this data hub into your secret weapon. By implementing some best practices, you can make every employee at your mortgage company a business analyst without paying for them to get their MBA.

Best Practices for Branch Management in a Box

  • Automate the process.
  • Make the data accessible & easy to consume.
  • Build it into your company culture & use it daily.

Branch Management in a Box

When it comes to automation, it’s not only about speed, it’s about data and making it available. Automating the data mining process eliminates the extremely time-sucking need to run a crazy number of reports in your LOS, export them to spreadsheets, pick through them to pull together the kernels of information you want and transform it into actionable insight.

Once you have the process automated, you have to make the data visible and easy to consume. The accessibility and presentation of the data go hand in hand; if data isn’t accessible for frequent analysis then you can’t proactively coach for performance and if the data isn’t presented in easy to understand, bite size pieces then it isn’t actionable.

Think about the last time you evaluated performance. Was it reactionary, say, due to a customer complaint? Or was it part of an ongoing preventative mission? Without automating the process and making the data visible and easy to consume, performance is likely being evaluated only on an event-driven basis. But, when you have real-time data transformed into the metrics that matter, you can more accurately predict and influence the performance outcomes you want on a daily basis.

With a system like CompenSafe in place, metrics can become the foundation for your mortgage company’s success. Metrics provide proof in numbers, tracking metrics provides accountability, and understanding the ebbs and flows of the numbers enables you to make corrective actions when necessary.

Contact us today to schedule a live demo to learn more about CompenSafe's branch management in a box and all the other ways in which it helps 100’s of lenders each day conquer complexity and take down the Spreadsheet Syndicate.

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This post is part of the on-going blog series, Conquer Complexity: Defuse the Destructive Power of Spreadsheets in Mortgage Lending.

As the eager-to-help “masters of problem solving,” it is our mission to build value-laden software that helps mortgage lenders engage in optimized and efficient lending by eliminating repetitive and manual processes through integration and automation. Our promise - integrated systems, automated processes and eliminated inefficiencies - is your competitive advantage in today’s market!