Now-a-days, Software-as-a-Service (SaaS) technology is quite prevalent in many different business spectrums, including the mortgage industry. SaaS has become a common delivery model for many business applications, and has been incorporated into the strategy of all leading enterprise software companies—including GlobalDMS. To review, SaaS is a software delivery model in-which software and associated data are centrally hosted by a provider on a cloud network.
There are several benefits to using SaaS over traditional software, which include:
- No software to install or upgrade, which means lower internal IT costs
- Ease of access, where employees can log on from anywhere that has an internet connection
- Subscription-based pricing is predictable without large upfront investment
- Data is centralized and hosted on the provider's servers with high security and low downtime
- Reduced or zero administrative personnel is required to keep the applications running through updates, monitoring, fixes, and enhancements
SaaS technology can be a wonderful solution for your business and its daily operations, but there are factors to consider before just jumping on board with the first SaaS provider you come across. It’s imperative that owners, operators, and staff do their homework beforehand to ensure that both the provider being considered and their software have a proven track record of being dependable. Other factors to consider are:
- Instant and high level of user adoption: Implementation of the provider’s software should always be efficient and noncomplex so you can begin using their system right away. At GlobalDMS, we have the Global Launch process, which allows companies to link into our cloud-based solutions in record time—and for a fraction of the cost.
- Breadth and depth—each application is rich with usable features: You should always get your money’s worth, and providers that offer simple, scaled down applications will prove unreliable. GlobalDMS’ eTrac Enterprise for AMCs, Lenders, and Servicers, as well as our eTrac Office Manager for Appraisers, are rich in usable features that will let you effectively manage the entire appraisal process from start to finish.
- Integrated Suite of interoperating applications: The provider should have multiple applications that all work in conjunction with one-another to help your business operations run efficiently. Here at GlobalDMS, we offer multiple products that are integrated with our eTrac Enterprise solution—Global Kinex, MARS, WebForms, AVMs, Global Communicator—that will help you with every facet of the appraisal process. We also offer many additional add-ons that will enhance your business operations even further.
- Proven scalability: An SaaS provider should have software in place that can efficiently handle your workload, and should use powerful large scale servers to enhance their cloud-based infrastructure for better performance. At GlobalDMS, we only use large scale cloud-based servers to constantly provide our clients with the most upgraded network infrastructure. Our software is on a fully virtualized server environment, which allows us to increase capacity and scalability without hindering performance.
- A secure cloud infrastructure: It is imperative that the SaaS provider you select has a secure cloud infrastructure that protects and backs up your valuable private information—such as names, addresses, social security numbers, and credit card numbers. Our cloud-based infrastructure at GlobalDMS is always secure and never accessible by the public at large. We also always back up all your information to prevent any loss of valuable content from a catastrophic system crash or failure.
- Longevity/Track Record: How long an SaaS provider has been in business and their track records with clients are very important factors to think about and research before signing any contract. Providers that have been doing business for many years are typically more reliable and usually boast the best track records with clients, because they have more experience. GlobalDMS is a trusted solutions provider for thousands of clients nationwide, and boasts a lender client retention rate of 100% since 1999 when we first began developing software for the real estate appraisal industry.
If you’re interested in using a proven SaaS provider to help you efficiently and compliantly manage the entire appraisal process from start to finish, please contact us today for a free consultation.