While the dream of having one system that does it all is just that, a dream, combining like processes under one tool does have some immediate benefits. Synergies can equal less rekeying and greater accuracy in some cases, when the vendor chooses their offshoot services well to ensure that they're complimentary to their core system and not just a distraction with an added price tag.
Most recently workflow vendor PushMX, Santa Clara, Calif., has added PushMX Sales to its product suite. PushMX Sales focuses on all prospecting activities leading up to loan origination as well as post-closing activities, creating 360-degree points of contact with the borrower during the origination process.
PushMX Production, the company's flagship product, is a pipeline management and communication tool that originators can use to organize, automate and simplify their operations. The company touts that the solution is customized to fit within the specific business model of each company.
PushMX Sales takes the workflow solution one step further by focusing on the activities that take place before and after a loan has been completed. This allows the entire origination process to be organized and automated. Further, it also allows users to create long-term marketing or drip campaigns to maintain contact with prospects who may need a loan months in the future.
"The response received from a smaller application called Lead Management was extremely positive," Dean Haritos, PushMX CEO and founder, explained. "But, we knew we needed a more robust solution that really drove business for our clients."
One of the main benefits of PushMX Sales is the ability to manage all of the leads that an originator receives. This feature of PushMX Sales allows the originator to begin generating business from previous customers who have been dormant for a long time. The user can download lead lists and import files, using the same workflow capability that PushMX Production offers to track the lead all the way up to the point where a loan application is ready to be created. At that point, the lead is automatically transferred into PushMX Production and the user can monitor the application as it moves through the pipeline.
After a loan has closed, the application is moved back to PushMX Sales where a long-term marketing campaign is created based on the applicant's characteristics. For example, a homeowner may receive automatic e-mails prior to the expiration of the interest-only period of their loan. If the customer submits an application for a new loan, they are transferred back to the prospecting function of PushMX Sales, making it a continuous cycle.
"By using PushMX Sales, our clients now have at their fingertips on a perpetual lead generating and tracking engine," Mr. Haritos continued. "PushMX Sales bundled with PushMX Production, proactively deliver value not only to the potential borrower, but also the business owner or broker who can now manage their business at a lower cost."
