Which Automated Loan Documentation Solution is Best for Your Needs?
With quite a few options on the market, which document automation solution is best? This page will help you understand the differences between LaserPro and GoDocs, so you can make the right decision for your business.
Automation is revolutionizing the loan documentation process, allowing for faster and more secure transactions. As the demand for streamlined loan processing grows, automation has become increasingly necessary to keep up with volume and remain competitive. With a range of document generation software solutions available, lenders are utilizing this technology to speed up loans at a higher volume than ever before, eliminate the risk of errors, lower the cost of attorney fees, and ensure guaranteed compliance.
We recommend choosing a commercial lending document generation platform that will streamline and simplify the process as much as possible!
What Is Fusion LaserPro?
LaserPro is a software platform designed for financial institutions to manage their loan documentation process. It is a comprehensive on-premise solution that automates and streamlines the entire loan life cycle from origination to servicing and beyond.
What Is GoDocs?
GoDocs is a comprehensive and intuitive commercial lending doc gen software that streamlines the loan closing process for both standard and complex cases. The cloud-based platform helps you stay competitive by lowering closing costs and generating document packages quickly and easily. With GoDocs, you can effortlessly create, edit, and store documents directly from your browser with no additional hardware or software installations required. GoDocs is the only automated document generation software platform designed to handle complex loans. By streamlining the closing process, GoDocs makes it painless for you to handle even the most complex loans quickly and accurately while remaining compliant.
LaserPro Capabilities vs. GoDocs Capabilities
Flexibility/Complexity
GoDocs maintains its power without compromising intuitiveness. It serves as the ultimate tool for streamlining and automating both standard and intricate loan procedures. Moreover, it stands out as the sole automated document generation software specifically crafted to manage complex loans worth $2 million and beyond.
LaserPro offers automated convenience for simple loans but struggles to keep up with their larger and more intricate counterparts. To ensure these complex transactions go smoothly, lenders often resort to costly legal assistance – making the whole process slower and less cost-effective.
Ease of Use
GoDocs is uniquely dedicated to ease-of-use and simplicity for any team member. The GoDocs platform makes commercial document ordering easy and efficient — even for those without prior experience. As a result, your team can be up and running on the software after just an hour and a half of training, accelerating commercial closings at record speed.
LaserPro is a heavily integrated system and getting set up can take from 4 to 6 months. Additionally, user training is anywhere from 3 to 6 days, with additional sessions needed for each software module.
Compliance/Updates
GoDocs is fully cloud-based and kept automatically up to date with new features, enhancements, and the latest compliance regulations.
LaserPro implementation and maintenance require experienced and well-trained administrators. Therefore, most LaserPro customers need to hire one or more full-time admins or redistribute current employees to become administrators. In addition, software updates and releases require IT involvement, coding, and worksheet development.
Support
GoDocs is invested in your success from day one. Our expert onshore support team works the same hours as you – making our response time fast and timely. In addition, our support and customer success team is available to all customers– with phone and email support at no extra charge.
LaserPro offers an extensive offshore team dedicated to resolving software issues and troubleshooting concerns. However, questions related to US banking and document preparation are outside the scope of this support crew’s capabilities.
What are the benefits of using a commercial lending document generation software?
By integrating automation loan doc software into your lending process, you can enjoy various benefits that streamline and improve your workflow:
Checklist for Choosing an Automated Doc Prep System
Use this complete checklist to help evaluate and compare different automated loan doc systems for your needs.
LaserPro vs GoDocs: Which is the Superior Lending Software to Meet Your Needs?
LaserPro offers an extensive feature suite that makes it a top document solution. However, due to its complex infrastructure—and relatively high price tag—LaserPro isn’t for everyone. The platform is best suited to businesses that are prepared for a bit of a learning curve and ready to dedicate staff to support the software to keep it running effectively.
GoDocs is a user-friendly automation solution that offers a quick and seamless onboarding process with dedicated support, making it simple for any member of your team to use. GoDocs doesn’t just match up to LaserPro in terms of the overall commercial features offered. The document strength is backed by a team of top attorneys, meaning that GoDocs works for even the most complex commercial loans — you won’t have to shop loans out to closing attorneys for customizations. GoDocs is an ideal SaaS solution for your commercial portfolio.