Need recommendations for loan servicing software to replace Excel

Anon - A software I know of that you could check out is from Piracle. It may be what you are looking for. Here is a link: http://piracle.com/portfolio-debt-manager

I am in the process of using Piracle for another product and saw this option. I cannot recommend it since I have not used it, but the sales lady I spoke to has been very helpful with the needs of the company I work for.

Nevertheless, this software may be a good solution for your company.

1

Chis:
Ok, appreciated the lead. But not impressed with their website. Not much info, and I hate when a vendor doesn't even give a price range, scale, system requirements, etc. is this SaaS?

1

I'm betting since you are reconciling your loans in Excel, you are not large enough yet to worry about a SAAS product.

So here is what CPAs have been using for eons for their clients, and you can get the software also and use it for your own purposes. This is the software that all industry accountants beg for but their employers don't buy it because they would rather pay more in salaries to do the work in Excel rather than give their employees what they need to be efficient. Sarcasm intended.

This website has a full view as to what the product produces. The nice thing is that you can set up scenarios, so if you are doing a what if and you need to know the total cost of financing and leave room for different amounts of principle payments at weird times, this software can do all that for you as well.

TValue
http://www.timevalue.com/products/tvalue/overview.aspx

CPA firms have been using this for a long time, since the 1980's to update their clients loan payments and help them to make financing decisions and lease buy decisions.

It won't do the thinking for you, but it will help you do the math more easily than Excel. And you can provide the schedules to your auditors so they can match it to GL at the end of the year and help them be more efficient also.

1