As the mortgage industry adapts to market fluctuations, Title companies are turning their focus to cost reduction, risk management, and customer experience. The question is, how do Title companies achieve cost efficiency while ensuring customer satisfaction is not compromised?
In this article, we’ll cover the challenges that Title companies face when scheduling notaries, and break down how Snapdocs Scheduling helps Title reduce costs, maintain data and security compliance, and maintain control over the entire scheduling and signing process.
The Challenge: lack of automation in notary scheduling
Scheduling a notary can be a cumbersome process for your team. When you’re scheduling hundreds or thousands of notaries a month, it can quickly become one of the most time-intensive processes, prone to errors and ultimately delaying the closing.
Title companies who rely on manual scheduling often experience:
- Higher costs. The amount of time staff spends manually scheduling notaries and managing vendors is uneconomical, and errors in signing documents can delay a closing and impact a Title company’s reputation.
- Unsecure data and security compliance. Manual workflows and outdated processes expose Title companies to unnecessary compliance risk. In addition, a lack of audit trails means time, effort, and resources spent chasing down documentation for audits - a tedious and costly endeavor.
- Negative customer experiences. Title must comply with the SLA requirements outlined by their lender customers. However, high error rates and inefficient signing processes can cause Title to struggle to meet the risk management and quality requirements outlined in the SLA. Title also relies heavily on reputation and referral business, which can be negatively impacted by a poor notary and closing experiences.
The result? Title companies and their stakeholders end up being stuck with lengthy, risk-heavy scheduling practices, with little control over the overall experience.
The solution: the most comprehensive notary scheduling platform
With Snapdocs Scheduling, Title companies optimize and reduce notary fees, maintain data compliance, and provide referral-worthy signing experiences for their customers. Snapdocs Scheduling empowers Title to:
- Lower cost-per-transaction. Automated workflow and scheduling processes via TPS integrations reduce notary fees and improve efficiency. Costs associated with vendor management and excess hours spent manually reviewing or revising documents are eliminated.
- Remain data secure and compliant. By managing the signing process within a single integrated platform, Title eliminates unnecessary risks associated with printed preview documents and unsecure emailing of sensitive customer information.
- Achieve audit readiness. With an audit trail for all tasks, transactions, and communications between participants, Title companies remain prepared for audits.
- Provide a better customer experience. Maintain control and visibility of the entire signing process while enjoying the benefits of scheduling automation. Meet and exceed SLA requirements of your largest customers, reduce errors, and gain referral business.
Snapdocs is helping Title companies improve operational efficiency and provide referral-worthy signing experiences in a secure, compliant, and audit-ready platform.