Streamline your loan management activities with our online fund control software.
Managing a single loan account can be complicated enough. Matters only get worse when you’re dealing with large loan portfolios. Fortunately, getting the right online fund control software can be a huge help. ECL Software has designed an award-winning fund control suite specifically for construction lenders that will dramatically improve the efficiency and accuracy of your loan management activities.
Eliminate Double Entry
Inputting the same information time after time into redundant systems or into different sections of the same system is a huge waste of time. Plus, the more data entry that goes on the more potential you have for errors. All compelling reasons to use ECL’s online fund control software. Our system was designed on a single-entry principle to eliminate time waste and improve accuracy. Important information such as contact information, contract dates, and loan amounts will be automatically available in all parts of the system after you enter them once.
Stay On Budget and On Schedule
Insofar as it is possible when a construction project is involved, our online fund control software helps keep your accounts on budget and on schedule. With the ability to capture detailed inspection reports (including photos) within the system, at least you’ll be aware of any budget or scheduling issues that arise in connection with various construction milestones! You can track multiple versions of a budget in the software to help you account for changing on-the-ground realities at the build site.
Avoid Accounting Errors
When it comes to funds administration, construction loans are ripe for accounting errors. One specific concern is that disbursements might be issued without regard for the actual progress of the construction work. Our online fund control software helps to reduce the risk of this error by enabling detailed inspection reports to be entered into the very same system where disbursement checks would be issued from. The fact that our software can connect to your backend accounting system further reduces the risk of accounting errors by ensuring that loan balances are based on real time funds transactions rather than amounts copied off a spreadsheet by an employee once per day or reporting period.
Ready to Learn More?
Get your own free, personalized online demo of our online fund control software now and see for yourself just how big an impact switching to this product can make on your lending activities.
