It seeks to enhance business performance and data accuracy
Mortgage aggregator LMG has launched a new reporting tool designed to enhance business planning and performance measurement for brokers.
The new tool called Broker Insights – now available to LMG’s network of brokers across Australia and New Zealand – aims to provide brokers and business owners with clear, actionable data to support more informed decision-making.
Developed specifically for brokers, Broker Insights was tested through a six-month pilot involving 100 brokers and business managers of varying sizes and specialisations. The feature consolidates over 50 data points from MyCRM, LMG’s integrated business platform, into seven reports. These reports give users a comprehensive view of broker, referrer, and lender performance, streamlining the process of data-driven decision-making.
Christopher Jonson (pictured above left), managing director of My Finance Agent and a participant in the pilot, noted that the tool has saved his team time by eliminating the need to manually export data into spreadsheets.
“Broker Insights provides me with more up-to-date data, which helps me better manage and support my team and the business overall,” Jonson said. “For the team, they’re able to look at their own stats and productivity to see how they’re performing and where improvements can and should be made.”
The Broker Insights tool features several dashboards that cover key areas of broker operations. The business overview dashboard provides a snapshot of key metrics, including book segmentation and settlement performance, while the broker performance dashboard tracks lodgements, approvals, settlements, conversion rates, and lender distribution.
Referral reporting offers insights into lead volumes from different referrers and their conversion rates, while the client overview dashboard provides demographic insights and highlights repeat business opportunities. The conversions dashboard analyses how deals move through the pipeline, and the settlements dashboard breaks down settlement trends by lender, purpose, and broker.
An additional dashboard, Missing data in MyCRM, flags incomplete fields and allows for real-time corrections, improving the accuracy of future reports.
Jonson, who oversees a team of 12 across two locations, said the data-cleaning function has been especially helpful.
“If you’ve input data incorrectly into MyCRM, it will highlight it and you can correct it there and then, making your overall data richer and more accurate,” he said.
Jason Furnell (pictured above right), chief customer experience officer at LMG, emphasised that the development of Broker Insights was broker-led to ensure it addressed real-world challenges.
“By involving brokers in the development process, we ensure that the tools we create are not only practical but directly address the day-to-day realities and challenges brokers face,” Furnell said. “This approach allows us to deliver solutions that genuinely empower brokers to succeed.”
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