What expense category does Ellie Mae fall under?
Audrey Carroll, Senior Manager, Accounting, RampSee how Ramp automates accounting for 25k+ businesses
Answer
Ellie Mae confidently takes its place in the 'Software' expense category, under the 'Mortgage and Loan Origination Software' subcategory.
Role of the Expense in Business
Ellie Mae is a leader in providing mortgage and loan origination solutions, essential for financial institutions and mortgage lenders in streamlining loan processing and compliance.
Practical Example
A mortgage lender using Ellie Mae for loan origination, processing, and compliance management would categorize these expenses under 'Mortgage and Loan Origination Software'.
Specialized Expense
For smaller financial entities using Ellie Mae for specific loan processing tasks, it might be categorized under 'General Financial Tools'.
Conclusion
Ellie Mae's robust presence in the 'Software' expense category is marked by its unparalleled efficiency in mortgage and loan origination solutions.
As we scale we need tools that are built to scale with us - we need to see expenses real time, we need to see duplicate spend. These types of insights are important to the health of our business.
SVP Finance & Strategy, Barry's
The information provided in this article does not constitute legal or financial advice and is for general informational purposes only. Please check with an attorney or financial advisor to obtain advice with respect to the content of this article.
Learn more about our Expense Management software.