Why Should I Integrate HubSpot With My LOS Encompass?

Sep 15, 2022

Finance is one of the most significant sectors using CRM to enhance business processes. It is a domain that often deals with sensitive records whose security and privacy you cannot overlook. Details like bank balances, account statements, and financial statements need to be managed with the utmost security, and a CRM platform allows you to do the same. 

At the same time, lending businesses use a loan origination system (LOS) to manage the entire financial lending process. Encompass is one such LOS used by financial institutions for streamlining their lending processes. While a loan origination system can work independently and fulfill your objectives, it can be integrated with a CRM platform to enhance its functionality. 

If you are a HubSpot user, you can integrate your CRM platform with LOS Encompass to leverage your lending processes and build healthy relationships with your clients. The lending business is full of risks, and managing your processes isn’t always hassle-free without an organized digital platform. Having a CRM at your disposal makes your lending business more robust and increases the efficiency of your operations. 
Before getting to the benefits of integrating HubSpot and LOS Encompass, let us understand what a loan origination system is and how Encompass helps you leverage your lending business.
What Is A Lending Origination System (LOS)?
A Lending Origination System (LOS) is a software platform designed for loan officers and lending businesses to streamline the process of giving loans and mortgages to borrowers. It makes the lending process more systematic with process automation. 
From the moment a loan is originated, the software enhances all steps involved in a loan transaction until the process is completed. Once a loan is originated, a loan origination system also handles activities like the eligibility, pricing, document management, and fulfillment of loans.
A reliable LOS works in a stepwise manner, guiding lenders and borrowers every step of the way throughout the lending process. 
What Is Encompass?
Encompass is one of the most popular loan origination systems for lending businesses. Created by ICE Mortgage Technology, Encompass is built to help loan officers go through the loan origination process until final disbursement.
Encompass uses artificial intelligence and next-generation data security to give lenders and borrowers a sense of security and reliance. It is designed to streamline the lending process and increase its efficiency across the board. Moreover, it is a customizable software platform that can be readily integrated with suitable third-party applications. 
Along with increasing the efficiency of the lending process, Encompass improves the ROI generated by lending companies. The loan origination process often requires lenders to incur heavy expenses, especially if it takes too long. The LOS of Encompass increases the speed of the loan origination process and facilitates cost-effective lending for financial institutions. 
What Is HubSpot?
HubSpot is a CRM platform that helps businesses manage their customer records and streamline business processes. It enables you to track your relationships with prospects and customers to provide personalized services. 
The CRM solution allows you to store, analyze, and track your business records with the help of modern and automated tools. Depending on your business objectives, you can implement HubSpot to leverage your inbound marketing processes (Marketing Hub), sales processes (Sales Hub), and customer service processes (Service Hub). In addition, with HubSpot CMS Hub, the platform helps you build robust and responsive websites. 
Why Should You Integrate HubSpot With LOS Encompass?
Integrating HubSpot with LOS Encompass provides an ideal blend of the tools and features offered by both platforms. While HubSpot provides a better context for the records managed by Encompass, Encompass enhances HubSpot features to provide seamless financial aid to your clients. 
The integration between HubSpot and LOS Encompass gives you greater control over the lending process and helps you provide personalized services to your clients. 
Here are a few fundamental reasons why you should consider integrating HubSpot with your LOS  Encompass:
Bi-directional Syncing Of Data
Integrating HubSpot with LOS Encompass facilitates seamless bi-directional syncing of your data. This means you can sync your HubSpot data with Encompass and vice versa per your needs and preferences. According to the functionality of both platforms, the bi-directionality works perfectly to allow your team to work on a centralized interface. 
Both HubSpot and Encompass are designed to integrate with suitable third-party applications in a hassle-free manner. In addition, their customizable nature gives you the best of both worlds, letting you sync your business records as per your requirements. 
The integrated platform allows your loans to be originated from HubSpot and your client documents to be managed on Encompass. In addition, it saves users from making separate data entries and carrying out manual reconciliation. 
Keeping Your Data Clean
The integration between HubSpot and LOS Encompass helps you overcome data siloes and keeps your data clean. Whenever there is any change in one platform, it would automatically reflect in the other without making manual changes. This ensures that your database is clean and up-to-date at all times. 
By integrating your HubSpot account with LOS Encompass, you can get rid of missing, incorrect, and irrelevant data for both platforms. In addition, this allows you to improve the processes carried out on both platforms. 
Improving Sales Processes
Like any other organization, a lending business needs to boost its sales to earn the desired ROI. While the loan origination system of Encompass is not equipped with modern sales enablement tools, this gap can be filled by integrating it with HubSpot. 
The integration helps you manage your encompass contacts and clients using the sales enablement tools offered by HubSpot. For example, whenever a prospect reaches out to you or makes a loan application, HubSpot helps you nurture this lead and convert it into a client for the request to be fulfilled using Encompass. 
This seamless collaboration between HubSpot and Encompass streamlines all your sales processes and increases your ROI. 
Inbound Marketing Support
HubSpot specializes in inbound marketing and helps users create targeted campaigns for reaching out to their prospects and customers across multiple platforms. Integrating HubSpot with LOS Encompass allows you to encourage your Encompass contacts to engage with your business and promote your offerings across various platforms. 
The inbound marketing tools offered by HubSpot help you spread the word about your lending business in the market and acquire leads that can be managed using your LOS tools. Moreover, the inbound marketing support offered by HubSpot helps you personalize your communication per your customers' needs and preferences.
The integration also allows you to cater to your contacts based on their previous interactions with your lending business and the lending stage they are at. This makes your business processes more holistic and helps you get the outcome you are looking for. 
The Final Word
HubSpot and LOS Encompass are ideal partners for lending businesses. The integration ensures you have greater control over your lending processes and helps you manage your sensitive client data. This allows you to grow your lending business and leverage client relationships.

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