Manual tax return spreading is a laborious and time-consuming process for commercial lenders. Historically, underwriters would spend hours transferring a company’s financial records into spreadsheets. This process, called spreading, would take up a majority of an underwriter's time, resulting in slow decision times and room for error.
In short, financial statement analysis is a crucial part of your job as a commercial lender. By carefully reviewing financial statements, comparing planned and actual performance, and looking at industry comparisons, you can make more informed lending decisions and help ensure the long-term success of your borrowers.
Let’s look at the 7 most common types of data extraction, how they work, and where they can be applied.
If you're in the commercial lending business, then you know that delegation is paramount to success. From keeping track of clients to managing payments, there's a lot to stay on top of. Fortunately, technology has been kind, and commercial lenders now have a whole set of tools to help make their lives easier.
4 tips for commercial lenders to get ahead of the competition
As the digital world continues to evolve, customer experience (CX) is becoming increasingly important as a key differentiator. In fact, it can easily replace products and prices. However, there's often a big gap between how companies say they prioritize CX and what actually happens. Why does this disconnect exist, and how can new technology -…
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Discover FlashSpread’s leading automated financial statement spreading software and learn how it can be a significant benefit for your lending business.
Data security is the act of protecting digital information from unauthorized access, corruption or theft. It applies to every part of information security, from software applications and administration to the actual physical security of your hardware and storage systems.
The commercial lending industry is facing a period of flux heading into 2023. The long recovery from the pandemic is finally settling down and the businesses that survived are getting back to their normal operations.
Technology has revolutionized the way we live our lives. It's also impacted every single industry, from retail to the commercial loan industry. And with the advances in technology, many commercial loan officers are under constant pressure to utilize their tools to originate more loans quickly and efficiently.
Discover the business acronym EBITDA, why you should know it, how to calculate it and how automated spreadsheet software can simplify the process.
