Increased demand for greater efficiency and increased profitability drive growth
IRVINE, Calif., August 19, 2013 – Advantage Systems, a provider of accounting and financial management tools for the mortgage industry, announced that revenues for Q1 and Q2 of 2013 were 13 percent ahead of the same quarters from the previous year.
The company attributes this growth to increased sales of three products, including:
• Web Based Branch Reporting Tool – Enables branch managers to access financial and loan-level data in real-time and eliminates the time and money required to have the accounting department manually prepare and distribute monthly financial reports
• Commission Calculation Module – Automates the calculation of commissions, bonuses and “Overrides” in both retail and wholesale environments
• ApprovalSoft ® – Enables users to more easily manage the approval of accounting transactions. Images of the supporting documentation are easily scanned or captured. Transactional data can be hand entered or imported and the approvals of each transaction are recorded.
The 27-year-old company also moved into bigger offices and is looking forward to adding staff to meet the demands of what it believes will be continued growth in its products.
“Our growth has been driven by the facts that mortgage lenders are struggling with stricter compliance requirements and are seeking to increase profitability,” said Brian Lynch, president of Advantage Systems.
AMB is a comprehensive accounting system that was specifically designed for mortgage bankers to provide loan-level detail of accounting transactions. In addition to the robust general ledger, accounts payable, accounts receivable and report writing capabilities provided, the system offers numerous functions that have been developed over the years to make the task of accounting easier.