Mortgage banking is changing quickly, and it’s important for individuals in the industry to change with it – the right way. Many mortgage bankers are struggling in this ever-changing landscape, but optimizing mortgage technology can help you keep up with the pace.
Examining your existing infrastructure expenses and negotiating new or replacement services is one step that can help you drastically lower costs. IMBs can save money and work more efficiently by implementing better technology while eliminating the technology they don’t need.
You see, you don’t have to have all the tools. What you do need to have are the tools that work best for you.
What Optimizing Mortgage Technology Might Mean for You
Chances are that your business has been doing the same things for months, if not years. As a result, you’ve become accustomed to doing things the way they’ve always been done and are overlooking areas where you can work more efficiently in order to save time and money.
Having a mortgage technology consultant explore your systems will provide you with a fresh perspective. To help you identify areas that could be improved or unneeded options that can be eliminated, Clarity Technologies consultants will potentially examine your systems related to:
- • VoIP: There have been many changes in phone systems over the past several years. If you haven’t updated yours in a while, there’s a good chance you’re using outdated systems or equipment you don’t need.
- • Internet Connectivity: This is an area where you are likely spending more money than necessary. Over the years, you may have added options and tools but neglected to eliminate the ones that you are no longer using.
On the other hand, you could be using outdated technology that is more costly than necessary, simply because it’s more difficult to use than modern options.
Either way, using the right internet connectivity can help you save time and money, as well as reduce the stress associated with too much clutter in your workday.
- • Disaster Recovery: Again, if you’re using outdated systems, you’re probably spending more than you have to.
However, if your disaster recovery systems are not up to par, it’s critical that you improve them, even if it means spending a little more for the option. It’s an expense that will pay for itself through added peace of mind and protection, as just one security breach can cost you thousands if not millions.
- • Electricity: We’ll also determine how the electricity you use works with your technological systems and help you pinpoint areas where you can save money. It may be as simple as switching to LED lighting versus traditional lighting, or using wireless systems as opposed to wired systems.
Consider Your Options
So what’s the bottom line? You may be able to save 20 percent to 30 percent per month on your infrastructure expenses.
For now, all you would need to do is discuss this topic with one of our mortgage technology consultants. Our services for this type of analysis are completely free. Contact us today, and we’ll show you how optimizing mortgage technology can help you work more efficiently while saving money.