Jumping Platforms
It has been widely reported for the past few years that the "typical" lender tends to abandon their current LOS platform once every 3 to 5 years and chooses to embark on the implementation of a new LOS. Why?
Is this because their current LOS has disappointed them with faulty or antiquated functionality?
Or, is this because the LOS competition has continually offered quantum leaps forward in business technology to provide lenders with competitive gains?
Could it be, this is because the lenders tend to implement systems based on legacy processes that prevent the realization of ROI and defeat the ability for in-house IT to keep the system up-to-date?
Or did we miss the real reason(s)?
Is this because their current LOS has disappointed them with faulty or antiquated functionality?
Or, is this because the LOS competition has continually offered quantum leaps forward in business technology to provide lenders with competitive gains?
Could it be, this is because the lenders tend to implement systems based on legacy processes that prevent the realization of ROI and defeat the ability for in-house IT to keep the system up-to-date?
Or did we miss the real reason(s)?
posted by M.A. Fairbank at 8:58 AM
2 Comments:
I know in our case we were too pressed to meet the deadline so that much of the design that should have occured never did.
I think it may be that the training is not sufficient. In our case it is not IT staff that can't keep up. It is that our software is under-utilized because our rapidly growing staff is not properly trained.
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