5.1.1. LP3 Customer Training Guide

LP3 Training Outline

Training should be staged into 3 parts, for a new office. Stages are coordinated with the office’s business cycle and how those transactions are handled in the software. As customers go through the training, they will understand why the training is broken up into these stages. Staged training will work for new offices but will not work for existing offices converting from another provider. For an office converted to LP3, it is better to have the office run their current product in parallel with LP3 for a minimum of two weeks prior to final conversion and switching software products.

Items to be completed prior to training

1.       Customer confirms review of training site, specifically the training videos & manual
2.       Customer has their own version of software setup for local or remote access
3.       CFS Software staff has configured and confirmed customer’s specific loan type settings
4.       Logins are created for current users, with confirmed user restrictions

Stage 1 (1st Month of Business)

Stage 1 of the training will focus on the following items listed below. For a new office, setup bank balance, take applications, deny application, create ECOA, approve application, make loans, search for accounts, close business day. No collections or loan renewals are done in the first month.

1.      Setup Bank Balance
2.      Take Application
3.      Deny Application (ECOA)
4.      Create Account & Loan
5.      Search Account
6.      Close Day
7.      Close Month
8.      Today’s Business (Loan Register)

Stage 2 (2nd Month of Business)

After customer has been opened for 1 month, accounts will start coming due for the first payment. During this phase, customers will start taking payments and start calling past due accounts to remind them to come pay. It is important to start collection activities immediately after someone has missed a payment to insure loans do not default. Cash will now be on hand in the office for making change on payments and office will have bills to pay and entered into the software for accounting.

1.      Taking Payments
2.      Collect Accounts
3.      Contact Codes
4.      Closing Day
5.      Cash Count
6.      Expense Categories
7.      Period Report

Stage 3 (3rd Month of Business)

This phase of training will focus on renewing customer loans as they will be eligible for this around month 2 or 3 depending on company policy. Customers will also begin to solicit accounts to renew by phone or mail.

1.      Renewals
2.      Reports
3.      Alpha
4.      Delinquency
5.      Accounting
6.      Mail