There has undoubtedly been a huge boom in the property market across recent months. And whether or not this trend looks set to continue, there is no doubt that it has had massive ramifications for the conveyancing sector. Huge numbers of new property transactions have come to the desk of conveyancers, with many customers demanding ever-faster service with more in-depth updates and communication.
This sounds like a real challenge for the industry. However, law firms and conveyancing companies have been able to keep up with demand, largely by making use of digital systems and new forms of technology. Indeed, by investing in digital advances, conveyancers have been able to find excellent efficiencies and increase productivity.
In this article, we will take a look at the new powers that digital systems are providing to conveyancers; whether in the form of process automation, cybersecurity software or project management tools.
The power of automation
Process automation is becoming an increasingly common addition to businesses across the property sector. In simple terms, automation involves taking time-consuming and repetitive processes away from humans and giving them to computer software. This is because computers are far more effective and accurate at these kinds of task. Bronwyn Townsend, writing for the Law Society, said:
“Law firms have been rapidly adopting new technologies that offer greater streamlining potential. With process and workflow solutions at its core, automation is increasingly on the radar of law firms. The benefits of automation are gaining recognition.”
Some of the major benefits of investing in process automation include freeing up conveyancers’ time for more critical work rather than using it for admin or other repetitive manual tasks. Another is reducing the number of errors, which feeds into another benefit of utilising digital systems.
Higher levels of accuracy
Using digital systems for your conveyancing work can be a very powerful way of creating a “single source of truth for all actions, updates, and key information’” for property transactions. This is useful because it can actually make the work carried out far more accurate, and lead to less need for manual intervention from staff.
There can be no doubt that achieving a high level of accuracy is one of the most important things that conveyancers can strive for. If using a digital system can provide a higher standard of work with far few errors, there has to be a very good reason not to switch to that system.
One of the most common causes of mistakes is when data is pooled from a number of sources. If your business has a consistent source of truth for work, it makes it much easier for all members of staff.
Better communication with clients
There is no doubt that something that can help conveyancers develop better relationships with clients is improving communications. Of course, communication with clients is highly time-consuming and can feel unnecessary. However, taking this approach is ignoring how the world has changed in recent years.
People are more connected than ever before, as the world has increasingly digitised. Individuals have gotten used to using digital technology to get instantaneous results when they want to manage a task. For example, if you want to book a table at a restaurant or manage your online banking, you can do this in seconds through apps.
Conveyancers can benefit enormously from shifting how they communicate with clients to a more digital setting. For example, creating client portals where customers can log in and see the progress of the property sale can be hugely beneficial.
Using powerful project management
It is becoming increasingly common for conveyancers to use software that has historically been used for software development and more technical industries. Services like Jira and Confluence can offer a range of possibilities for conveyancers, especially with regard to project management and creating a work environment with a simple system where issues can be raised and dealt with all through one system.
Of course, one of the more challenging issues for conveyancers using this software is that it can take technical skills that conveyancers may not have. Thankfully, many companies now have a range of support services covering everything from administration and training to management and configuration.
Digital verification of ID
Ever since the introduction of HM Land Registry’s digital identity standard in 2021, there has been an increased interest in verifying clients’ identities digitally for conveyancers. This would be a powerful way to speed up the process and give clients a better all round experience of their property sale.
It has always been the case that the process of verifying a conveyancing client’s identity involved face-to-face meetings, posting proof of identity or scanning passports in person. However, it has now become possible to verify someone’s ID digitally.
This was actually pushed through by the Covid-19 pandemic, which forced firms to consider how they could work if clients weren’t able to verify their ID in person. Conveyancing is relatively late to the party, however, as this sort of digital ID verification has been in place for banks and a number of other sectors for many years.
Increased security
One issue that conveyancers need to consider closely is cybersecurity. It is well known that cybercrime is rising – and worse, that conveyancers are being disproportionately targeted. As such, it is necessary for property solicitors to put powerful cybersecurity measures in place to keep the business and customer data secure. LPL, a firm of property lawyers, explained:
“On the sale or purchase of a property, money is routinely moved from clients to their conveyancer, from mortgage lender to conveyancer and between law firms. To keep transactions secure, robust cyber security protocols will generally be in place.”
As we can see, there is a huge range of benefits that are being provided to those conveyancers that have invested in digital systems. If you are looking for ways to increase productivity, efficiency, and accuracy in the work you do, while offering a higher level of customer service, going digital could be the thing to do.
