The conveyancing industry is becoming increasingly competitive, many firms are looking for ways to streamline their processes, reduce costs and gain that advantage. One way to achieve this is by outsourcing services, such as title investigation.
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Outsourcing work is a great way to optimise your business functions and services. Firms are able to tap into expert advice, resources and support which allow them to scale up or down to meet their business needs and all with increased speed and agility. Businesses who outsource parts of their business in the UK experience average cost savings of 20%-25% all without having to personally make the required investment.
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However, there can be a stigma attached to outsourced services in the industry, whereby some firms believe that it is better to keep the conveyancing process in-house, even though this solution can be a drain on precious time and resource.
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We want to change this mindset by showing why outsourcing can be beneficial for conveyancers and actually make firms quicker and more efficient at what they do.
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- Outsourcing can save firms time and reduce operational costs. Specialist outsourced services like ntitle are focused on delivering specific and sought after subject matter expertise. Whether the service is law firm accounting, ID, source of funds, marketing, or ntitle’s title investigation service it is important to recognise the widely reported benefits of using these specialist services. ntitle are subject matter experts for title investigation and by combining the best-in-class technology with our expert title investigators we are able to provide a service which saves time and money in one of the most time-consuming aspects of the conveyancing process. This leaves firms more time to concentrate on customer service and their long-term business goals.
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- Using outsourced services can increase your firm’s ability to ‘scale up’. Without recruitment costs, lead times and the inevitable overheads (salary, benefits, training) that come with permanent employees.
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- Outsourcing can improve the homebuyer’s experience. Now more than ever it is essential to deliver a professional, seamless customer journey that clients can trust. If this is not achieved, then it is likely that clients will look elsewhere. We often hear how ntitle’s service has helped to speed up the transaction, which invariably increases client satisfaction. We also hear how using outsourced services frees up the Conveyancers time, giving them the opportunity to call their clients with updates and build that all important rapport that keeps clients coming back, recommending the services to others, and leaving that great review.
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The reality is in today’s demanding conveyancing market it is becoming increasing difficult to do everything in-house. Firms need to adapt and look at new business strategies. Outsourcing really is as simple as it appears and feels like a no brainer!
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Outsourcing time-consuming areas of the conveyancing process is an important tool that firms should utilise to keep ahead of the curve and gain that competitive advantage.
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