Why Service Turnaround Times Matter...
ntitle’s 48-hour Service Level Agreement (SLA) can make a significant difference to conveyancing departments/firms for many reasons. There is a noticeable movement of firms looking to outsourced services to manage their caseloads as well as reduce their transaction timelines, giving them a competitive edge.
In a rapidly changing and evolving industry using outsourced services can provide firms with the ability to create efficiencies in their processes, mitigate risk, make money as well as maintain expertise and consistency through a simple cost effective solution. It allows firms to leverage our service and technology to scale their business operations without adding pressure on their team as well as increasing client satisfaction.
Why does a 48-hour SLA matter?
1. Efficiency and Speed:
The 48-hour SLA means that ntitle is committed to delivering title investigation reports within 48 hours of instruction. This level of efficiency and speed can make a crucial difference in the conveyancing process, where delays can lead to significant issues such as missed deadlines, increased costs, stress for the conveyancer and unsatisfied clients.
By meeting the 48-hour SLA, ntitle helps ensure that firms can meet their own deadlines and provide better service to their clients. Our quick turnaround has a proven track record of reducing timelines by up to 2 weeks. In a time where transaction timelines matter and have been repeatedly reported on negatively in the press, having an edge can make a difference to your firms’ standing in the industry.
2. Risk Mitigation:
Conveyancing is a complex process and title investigations are an important part of this process as they uncover any potential issues or encumbrances on the property’s title.
A 48-hour SLA allows conveyancing firms to obtain this information quickly, report this back to their client and raise any necessary enquiries, allowing more time to be spent on resolving any issues that could arise from the investigation to prevent delaying the matter further.
With many experienced conveyancers leaving the industry, there is an increasing gap in knowledge between those who have been in the industry for many years those who have recently joined the profession. This gap can mean that consistency between transactions is a challenge for firms when a complex matter arises and the experienced team member has a full case load.
ntitle’s team are all experienced conveyancers, who have the knowledge and expertise to work on difficult matters. Enabling the transaction to proceed with less experienced case workers. Our unique snapshot provides vital information about the transaction, highlighting potential issues from the title investigation to help the case worker with any further action needed.
4. Making firms more money:
A quick turnaround and our fixed cost service enables easy planning for managing caseloads, budgets and keeping overheads to a minimum. This enables firms to make more money!
A delay in conducting the title investigation can lead to increased operational costs, such as extended staff hours or the need to expedite other aspects of the transaction. It can also lead to frustration of their clients as they may not feel the transaction is moving forward at a rate that meets their expectation. This can lead to additional stress and pressure on conveyancing and actually decrease client satisfaction. By outsourcing title investigations, firms can better manage the workload for their team and still meet the demands of their clients.
5. Technological Advancements:
The conveyancing industry is increasingly looking to technology to streamline processes and improve efficiency. Outsourced services are often subject matter experts, with the sole focus of developing and creating better processes in their own service to allow for a better client experience. With access to best in class technology and cloud based services, ntitle can complete investigations quicker than in-house teams whilst ensuring accuracy and expertise.
6. Scalability and Flexibility:
Outsourcing title investigations provides conveyancing firms with the scalability and flexibility to grow their business. They can easily scale up or down their title investigation needs based on workload, without the need to recruit, potentially face high recruitment costs for a temporary uplift in demand.
This flexibility allows firms to adapt to the changing market and client demand more effectively, taking advantage of the peaks in demand and being able to plan the capacity for this.
7. Data Security and Compliance:
As an online company, ntitle have invested in data security measures and compliance by using best in class technologies. This helps conveyancing firms using our service ensure that sensitive client information is handled securely and in compliance with legal requirements.
Our team are all trained on cyber security regularly, ensuring that they have the knowledge to help maintain our compliance with data security. Our service uses encrypted, government back technology to provide a secure, personalised space for our clients to submit and retrieve their completed reports.
In short, we give you a competitive edge in the market.