If you’re a title agent or run a title-focused business, you can probably name the one thing that keeps you up at night about your workflow or production process. You know…the one task or function that has to be done. And it has to be done manually. By an employee (maybe even you). It doesn’t drive any revenue. But if it doesn’t get done, you have compliance issues. Or a file can’t be closed. Or maybe your E&O rates might go up because of it. We’ll call it That Chokepoint.
Usually That Chokepoint is a messy process that involves some combination of your employee (or employees) dropping whatever else they’re doing in order to attend to it. It doesn’t happen quickly. It may be dependent on certain information coming in, first. It probably involves your staff taking that data, which may come in the mail, or via phone call, or email, and looking at it while typing into one of your systems. Or worse, maybe they have to make a call or two, and wait for more information. It may be a multi-step process requiring staff to hurry up and wait, then do data entry or data collection by email after that. Yes, That Chokepoint is probably a pain to everyone involved, not to mention your margins and average time to close.
Yes. Yes it can.
I recently spoke on a panel at ALTA ONE. It was a great conference and the session was attended by a number of curious title agents. The one thing that surprised us throughout the entire conference, however, was the number of title owners and executives who asked us, repeatedly, “Bots can do that?”
Usually, the answer (no matter what the process) is “Yes. Yes it can.”
RPA (robotic process automation) technology can automate property tax searches. It routinely automates a number of different types of online title searches. It can be used to remove the keyboard mashing involved in order opening. RPA is already used to do everything from uploading documents to automating those small, local (but necessary) requirements that always seem to involve taking data from one form and putting it into another form that no large title tech companies provide. You know….That Chokepoint.
Bots will never rule the world, and they’re unlikely to take your jobs, either.
Here’s the best thing about bots. They’re not taking your employees’ jobs. They’re actually freeing them to do their real jobs. Do you have many staffers whose only responsibility is data entry? Would you rather have your closing specialists doing closings? Wouldn’t it be nice if your marketing or sales people had more time for….sales and marketing?
As we’ve said once or twice before, bots are customizable. For instance, when a county where you do most of your business suddenly decides it wants to update a new form, that requires you to enter certain bits of information from your transactions, and that county isn’t big enough for the national tech providers to add the form to their platforms, well…that’s what a bot can handle for you.
Contact us today. Let’s talk about your Chokepoint. Chances are high that our bots can take care of it for you. email@example.com
Photo by Towfiqu barbhuiya on Unsplash