Data suggests conveyancers missing out on biggest digital opportunities
Conveyancers are missing out on the biggest digital opportunities, according to data analysed by InfoTrack.
An early read of the data from the Digital Conveyancing Maturity Index points to the highest levels of digitisation among post-completion tasks, while pre-completion and client onboarding are significantly trailing in terms of their digital maturity.
The research by InfoTrack, that is still running, is being created with data submitted by Law Society, CQS, CLC, SLC, LawNet, The Conveyancing Association, and Bold Legal Group members. It enables them to assess their progress and benchmark themselves against similar firms and their wider competition.
Post-completion is leading the way with approximately one third of law firms attaining the highest possible level of digital maturity in this area. The trend towards fully digitising post-completion tasks aligns with the current HMLR mandate shifting firms to digital AP1 submissions from November. However, the initial data also indicates the huge room for improvement from client onboarding and throughout the bulk of the conveyancing process.
Sam Jordan, InfoTrack COO, comments:
“The increasing digitisation of post-completion is great but the missed opportunities in what are the most time and labour-intensive aspects of the conveyancing process are staggering.
“At this point pre-completion looks like it’ll be the least mature area.
“We’re talking about technology that’s freely available that would save a busy conveyancing team days, weeks, or even months over the course of a year though efficiency and accuracy gains.”
Law firms only have one week remaining to get their complimentary personalised report highlighting their areas of progression and opportunities for further advancement. The final report will be presented at The Digital Conveyancing Summit at the Law Society on Sept 28th.
Law firms can complete the Digital Conveyancing Maturity Index survey in approximately 10 minutes here. The reports are free and completely confidential.
Kindly shared by InfoTrack
Main article photo courtesy of Pixabay
