As a business owner, you’re always looking for ways to improve your bottom line. And if you’re in the lending industry, one of the best ways to do that is by upgrading your POS (point of sale) system.
Why? Because a good POS system can help you close more loans and get better loan terms for your borrowers.
Think about it this way: when you’re at the store, do you want to buy from the person who’s using an ancient cash register that takes forever to total up your purchase? Or would you rather buy from the person who’s using a sleek, modern POS system that can ring up your purchase in seconds?
The same goes for borrowers. When they’re looking for a loan, they want to work with a lender who can get them the money they need quickly and easily. And that’s exactly what modernized mortgage POS systems from SimpleNexus do.
Here are six reasons why you should upgrade your POS system:
1. A good POS system can help you close more loans
Borrowers today are savvier than ever before. They know what they want and they’re not afraid to shop around for the best deal. If you’re using an outdated POS system, chances are good that you’re not providing the level of service that borrowers expect.
On the other hand, if you’re using a modern system from SimpleNexus, you can offer borrowers a streamlined, efficient loan process. The result? They will want to do business with you again and again.
2. Get better loan terms for your borrowers
When you’re using an outdated POS system, you’re likely missing out on opportunities to get better loan terms for your borrowers. That’s because old POS systems can’t take advantage of the latest technologies, like e-signatures and automated underwriting.
With SimpleNexus, you can take advantage of these technologies to get your borrowers the best possible loan terms.
3. Streamline your loan process
If you’re still using paper files and manual processes, you know how time-consuming and error-prone they can be. upgrading to a modern POS system will allow you to streamline your loan process and eliminate many of the potential errors that can occur.
4. Improve your customer service
When you’re using an old POS system, your customers can tell. They may have to wait longer for their loan to close or they may not receive the level of customer service they expect.
On the other hand, if you’re using a modern POS system, your customers will appreciate the difference. They’ll see that you’re using the latest technologies to make their loan experience better.
5. Get more referrals
When you provide a great loan experience, borrowers are likely to tell their friends and family about it. And that can lead to more business for you.
But if you’re using an outdated POS system, borrowers may not be so quick to recommend you to their loved ones.
6. Increase efficiency and save money
An outdated POS system can cost you time and money. You may have to hire more staff to handle the manual processes or you may miss out on opportunities to get better loan terms for your borrowers.
A modern POS system from SimpleNexus can help you increase efficiency and save money. It’s an investment that will pay for itself many times over.
There you go,
If you’re looking for a way to improve your business, upgrading your POS system is a great place to start. SimpleNexus offers the latest technologies to help you close more loans and get better loan terms for your borrowers.