What is XRM – Part 3, Commercial Mortgage Broker Example

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In my last blogs, I discussed the concept of XRM (Xtended Relationship Management) which is building unique business applications by leveraging the extensibility of Microsoft Dynamics CRM.  I gave examples of companies that have used deployed XRM and how it helped them move their businesses forward.  In this installment, I will give an example of a company that used the extensibility architecture of Microsoft Dynamics CRM to close more business in less time.

One of our clients is the largest privately held commercial mortgage firm in Colorado.  Their brokers must match commercial property owners, who have specific financing requirements, against their network of potential lenders to determine which lenders can meet those financing requirements.  In this highly competitive industry, each broker is very protective of their prospect and client lists and so in order to maintain control over this information, the brokers were tracking it in their own disparate systems.  This meant that the brokers were also tracking information about their lender network in these same separate systems.  In order to match borrowers to lenders, brokers would email the requirements of their loan to their broker peers and then walk around the office to see if anyone knew of a qualified lender for that loan.  This highly inefficient process resulted in slow deal closure times and lost opportunities.

Management realized that the way to close more loans more quickly was to track lender information in a centralized repository that is accessible to all brokers, and to standardize lender information so that brokers could quickly and easily find lenders that could meet the requirements of the borrowers, while at the same time providing protection for brokers prospect and contact lists.  In this situation we designed a solution based on Microsoft Dynamics CRM.  We modified the standard Account form to track specialized lender information and modified the standard Opportunity form to track specialized loan requirements information.  We then created queries that a brokers use to quickly and easily search for qualified lenders based on the loan requirements.  We also configured security to protect each broker’s prospect and contact list.

With their new business application based on Microsoft Dynamics CRM, brokers can now more quickly come up with a list of qualified lenders by running a query against the combined lender network.  This list of qualified lenders will also be larger since they can access the entire company’s network of lenders at one time.  They can do this while knowing that their investments in their prospect and client lists are protected.  The final result for both the brokers and the company is more closed loans in less time.

To learn more about how XRM applications developed on Microsoft CRM can benefit your organization, download a free whitepaper here.

By NexusTek – Colorado Microsoft Dynamics CRM Partner

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