American Financial Resources Gains Tangible Operational Savings Through Advantage Systems’ ApprovalSoft® Mortgage Accounting Solution

IRVINE, Calif., August 5, 2020Advantage Systems, a provider of accounting and financial management tools for the mortgage industry, announced that Parsippany, NJ-based American Financial Resources, Inc. (AFR) has realized significant operational savings through its use of the ApprovalSoft® system to manage vendor invoices and streamline internal approval processes.

The capability for vendors to directly interact with the system is a key benefit for AFR. Lisa Gerhard, Accounting Manager at AFR, explained, “Most of our vendors email their invoices directly to ApprovalSoft. Then, the system uses the inbound email to automatically start a payable item and attaches the PDF of the invoice. For our common vendors, ApprovalSoft also chooses the default expense account.”

“The upload invoices at loan level feature is huge for us, especially for the larger invoices that have small amounts per loan, but for hundreds of loans,” said Gerhard. AFR estimates that ApprovalSoft saves its staff the time equivalent of a full-time employee in its accounting department, delivering significant ROI.

Through its data-driven design, ApprovalSoft facilitates the control of any type of approvable document, including company records, vendor invoices, journal entries, cash receipts and even engineering changes. Developed to address mortgage lenders’ unique business needs, Advantage Systems has recently invested in a redesigned ApprovalSoft website to further support its customers and partners in the industry.

“We designed ApprovalSoft to allow companies, like American Financial Resources, to streamline internal approval processes and easily manage any type of approvable event,” said Brian Lynch, President and Founder of Advantage Systems. “Working with AFR for over 7 years, we are thrilled that their accounting team continues to report excellent results from their use of the system.”

About Advantage Systems
Founded in 1986, Irvine, Calif.-based Advantage Systems is a provider of accounting and contract management tools for the mortgage and real estate industries. Advantage Systems’ Accounting for Mortgage Bankers (AMB) was developed in response to the need the company saw for a general ledger accounting product that could eliminate the spread sheets and manage the loan level detail required by the mortgage banking industry. In so doing, AMB gives its users the tool they need to be confident about the data being reported to management and others. For more information, visit www.mortgageaccounting.com​​​​​​.

MEDIA CONTACT:
Rachel Smedley
William Mills Agency
678-781-7236
rachel@williammills.com

PROGRESS in Lending Association Names Advantage Systems’ AMB 7 Sierra Software as an Innovations Award Winner

Mortgage Accounting

IRVINE, Calif., May 12, 2020 – Advantage Systems, a provider of accounting and financial management tools for the mortgage industry, announced today that its browser-based AMB 7 Sierra software was named as a ‘Top Innovation’ in PROGRESS in Lending Association’s 10th annual Innovations Awards.

The Innovations Award program highlights companies that work to develop industry-changing innovations. The association recognized innovations that were introduced into the mortgage market in 2019 as well as rewarded companies for creative enhancements, updates and changes to industry innovations that made a positive difference throughout 2019.

“PROGRESS in Lending Association’s annual Innovations Awards was developed to honor companies who create groundbreaking innovation to change the mortgage industry for the better,” said Tony Garritano, founder of PROGRESS in Lending Association. “While the COVID-19 crisis stopped us from introducing our 10th annual Innovations Awards in person, nothing can stop true industry innovation.”

“Our association named Advantage Systems’ AMB 7 Sierra as a top industry innovation because mortgage professionals need a solution that prioritizes real-time, easily digestible financial reporting at their fingertips and that is exactly what they get with AMB 7 Sierra,” Garritano continued.

“We are thrilled that our AMB 7 Sierra Reporting Package was listed among this year’s top industry innovations,” said Brian Lynch, President of Advantage Systems. “With the rapid switch to working remotely due to the COVID-19 crisis, our entirely browser-based solution allows mortgage professionals the ability to select the reports they need, when they need them.  These reports can be accessed from anywhere, at any time.”

Additionally, the awards were scored based on five categories: the innovation’s overall industry significance, the originality of the innovation, the positive change the innovation made possible, the intangible efficiencies gained because of the innovation and the hard cost and time savings that the innovation enables industry participants to achieve.

The association’s team virtually announced award winners on April 9, 2020. To watch the video and see the list of top innovations, visit PROGRESS in Lending Association’s website.

About Advantage Systems

Founded in 1986, Irvine, Calif.-based Advantage Systems is a provider of accounting and contract management tools for the mortgage and real estate industries. Advantage Systems’ Accounting for Mortgage Bankers (AMB) was developed in response to the need the company saw for a general ledger accounting product that could eliminate the spread sheets and manage the loan level detail required by the mortgage banking industry. In so doing, AMB gives its users the tool they need to be confident about the data being reported to management and others. For more information, visit www.mortgageaccounting.com.

MEDIA CONTACT:
Rachel Smedley
William Mills Agency
678-781-7236
rachel@williammills.com

Independent Mortgage Bankers Conference 2020

Advantage Systems Attended the Independent mortgage bankers Conference ON February 3-6, 2020 

The conference was held at the Hyatt Regency New Orleans, New Orleans, LA . Advantage Systems provided demonstrations of AMB 7 Sierra at Table 10.