Taking the First Step: Choosing a Payday Lending Software Solution
A strong payday software solution is one of the first things you’ll need to start or expand a lending business. It gets you up and running in order to begin collecting, storing, modifying and retrieving the day-to-day transactions that are critical to success. Whether you’re new to the industry or you are an existing lender looking to make a switch, deciding which software to run your business is a big decision.
Starting with the right software is an investment into your business. It sets the foundation for how you will run your operations—and it pays for itself many times over. Just as it is critical to have a strong foundation for any house, the technology solution you choose is the foundation for your business. But shopping for software technology can be a confusing experience. On a basic level, providers all promise the same thing: a technology platform that helps you run your short-term lending business. So what sets providers apart? How do you know what’s right for you? When searching for an LMS provider, you should ask:
- Is the software hosted by me or the provider?
- Do you follow industry standards to protect customer's data?
- Will it work across multi-state platforms?
- Is the solution designed for a new business or existing business?
- Is it scalable? Can it expand with me?
- What is the level of support available before, during and after implementation?
- Does the provider understand the business and the industry behind the technology?
- How often do they release new functionality?
- Are they PCI compliant?
Software providers must understand the business behind the technology to effectively develop a program that will meet your daily challenges. You want a provider who is intimately familiar with the ins and outs of the short-term lending business. Who understands the challenges you face. And who can take your business to the next level.
TranDotCom: Taking the Guess Work Out of Successful Short-Term Lending
TranDotCom provides the transaction management solution you’re looking for. The core of our platform, the TranDotCom Loan Management System (LMS), is a robust, highly flexible web-based software solution designed exclusively for the short-term lending industry. Our key to building a robust payday solution is the valuable input we receive from our customers.
Three key things separate us from the competition:
- We listen to our customers
- We innovate to solve their challenges
- We deliver great products
This formula for success has allowed us to build best in class solutions that help our customers maximize profitability. Our software provides you with the tools you’ll need to begin your business, maintain efficient operations and grow profits to the next level.
TranDotCom literally “wrote the book” when it comes to flexibility, compatibility with a wide range of business models, scalability and ease of use. Benefits of our Payday Sollutions include:
- Highly scalable, configurable and reliable system allows you to grow your business
- Support for a wide range of business models enables diversification
- A provider who supports you with extensive industry expertise provides best practices
- Interfaces with top lead providers, credit bureaus, ACH processors and collection agencies provides a turn-key solution
- Full support and guidance before, during and after implementation - a trusted partner
When you work with TranDotCom, you work with a market leader and solutions provider that has perfected industry best practices. We are constantly innovating and stay one step ahead of new trends within the short-term lending business. As your needs evolve, we’ll meet them. And as a customer, you’ll be in good company. Over 50% of Online Lenders Association (OLA) board members have benefited from the use of TranDotCom's Loan Management System.
Ready to take the next step and get answers to your questions? Call us now at 678.433.1200 or email us at sales@tdcemail.com.