Building a business case for most software purchases can feel like a daunting task. The process of identifying business needs, evaluating vendors, considering a buy-vs-build perspective, and calculating ROI while considering other factors as well can seem like an overwhelming challenge. Additionally, the process of translating all this information into a persuasive business case is often a new or unfamiliar endeavor for a Loan Review Manager.
At Abrigo, we understand how difficult this process can be. The good news is we have helped many clients develop a strong and ultimately successful business case for loan review software. The following points make for a strong business case to help you acquire the tools needed to optimize your loan review function:
- Return on Investment (ROI) isn’t just about efficiency gains
- It’s rarely cheaper or faster to internally develop a system
- While it can seem like the safer path, there are risks in doing nothing
- Increasing headcount can mask inefficiencies
- There are huge advantages to being part of a user community