Pre completion now the fastest growing area of digital conveyancing adoption
The latest instalment of the Digital Conveyancing Maturity Index reports use of digital adoption in pre completion has grown by 7% since 2022, rising to an average score of 37%.
Now in its second edition, the research project conducted by InfoTrack surveyed 185 firms across England and Wales to assess the uptake of the latest technologies by conveyancing professionals.
Working alongside Bold Legal Group, CLC, The Conveyancing Association, LawNet, Law South, SLC, and regional law societies, the report provides unique insight into how firms are progressing with their adoption of digital conveyancing tools and enables them to benchmark themselves against similar firms and their wider competition.
Firms that completed the survey in both 2022 and 2024 also saw an average 10% improvement to their digital maturity score, with 90% of respondents noting that the individualised reports helped spark conversations or drive change around technology use in their firm. However, while technology adoption has increased overall among conveyancers, there are a still several firms that are relying heavily on traditional methods including mailing post completion forms and conducting in-person ID checks.
The complete report will be launched on Monday 26th February during an online event, where Sam Jordan, Chief Operating Officer at InfoTrack will highlight key findings and what it means for conveyancers in 2024.
Mark Day, CEO at Law South comments:
“Residential property transactions are often fast and furious with so many manual administrative steps still prevalent. The member firms we work with have found the insights from the survey for their own firm and from the wider industry help them to understand what their own firm’s journey to digital conveyancing looks like now and in the future. There are many pointers to avenues that firms can go down to work more digitally in the different aspects of conveyancing.”
Rob Hailstone, CEO and Founder at Bold Legal Group adds:
“Digital adoption in the conveyancing process is growing, year on year. If yours is not one of the firms that is making strides in this area, it should be. Falling behind even further will mean you become not only inefficient, but less profitable.”
“The improvement overall is a positive step in the right direction for firms on their digital conveyancing journey. The jump in pre completion is the biggest win for everyone involved and it shows the appetite for getting on board with new technology. We’re also delighted to see that firms were able to use the insights from the 2022 report to increase their digital maturity, it’s exactly what we hoped this report would encourage,” says Sam.
You can secure your place at the report launch webinar to be the first to hear the exciting findings and what it means for conveyancers in 2024. Book your place today.
Kindly shared by Infotrack
