Hi Ben, agreed it's time for a change, but updating a report will not be enough.   A clean form may look / feel good temporarily, but beyond that, what does it do?  

The Abstractors that want to stay relevant, should look at how much time they take to fill out forms, pull in documents and create packets.  Can they improve Turn Around Time and Accuracy? How long does it take to do these steps?  Automations exist for the Abstractor in this workflow (how about 50%-75% time savings?).  

The Client is under more pressure to automate, and this will become a louder and louder call to action for the Abstractor.  Clients want integrations, speed, accuracy, reliability - and if the Client is manually processing forms... well, the days will end when forms will not be accepted and it must be transmitted system-to-system (integration).

So as you say, time for a change, and if I had any advice to the Abstractors out there, especially after I attended the National Settlement Services Summit -  is be technologically relevant.  Those Traditional Abstractors that can integrate and mature with their Clients, have a fruitful future.  

 I'm happy to discuss further, but see below in my signature for those that want to be relevant as the industry evolves. 

-Denise Williams
President of RDS, Real Document Solutions, a Technology Partner enabling Title Abstractors/ Doc Retrievers to be their best. RDS, a full end-to-end system (SaaS), automates your workflows (even build highly-customized forms - see video here), and are integration-ready with Clients - see link here

 

to post a reply: login - or - register