Jump to section:
- The digital economy and today’s consumer
- What do conveyancers need to meet client expectations?
- Online automated conveyancing quotation tool
- Digital client portal
- Must have features in a client portal
- HM Land Registry are looking to digitise the processes
- What are the benefits to digitising the conveyancing processes?
The digital economy and today’s consumer
Have you ever wondered if technology is more of a friend or a foe when it comes to conveyancing? It's a question worth pondering. So, where does technology fit into your organisation, and have you considered leveraging it for better outcomes?
As you navigate the intricacies of your firm's operations, let's look at some eye-opening statistics[1]:
- 92% of firms say Covid-19 and the associated restrictions have increased trust in technology.
- 95% of firms have found that implementing technology has made them more responsive to client needs.
- 84% of firms have reduced the delivery time of services through implementing new technologies.
Now, why is this information crucial? It highlights a fundamental shift from in-person to digital interactions. We encounter technology daily, integrating it into various aspects of our lives. Understanding how technology can benefit your law firm is pivotal for your practice's growth and enhancing client experiences.
To truly resonate with your clients, it's essential to grasp their digital engagement habits. Consider how consumers manage their finances – in 2024, 86% of the UK adult population use some form of online banking[2]. That's a whopping 46 million people. The digital landscape has evolved significantly, from the inception of the Internet to the era of 5G and even discussions about 6G networks.
Engaging with law firms and observing the widespread adoption of the Internet confirms the overwhelming consensus – people desire technology. Yet, there's always the concern about adoption. Will everyone understand it? Will they grasp what's being asked of them? In the UK, 46.6 million people[3], roughly twice the population of New York, use the Internet daily. Internet usage statistics are staggering:
- 96% of UK households use the Internet. [4]
- 92% of the UK has internet access through a smartphone. [5]
- Approximately 5.5 billion unique mobile phone users exist globally. [6]
- Social media engages 7 billion people. [7]
- Every 60 seconds, the Internet supports 41.6 million messages through WhatsApp. [8]
- An astounding 250 million emails are sent every minute.[9]
These statistics underscore the significance of a digitally connected journey for consumers today. Now, how does this data contribute to streamlining the conveyancing process and being responsive to client needs?
Conveyancing, a historically manual and cumbersome process, has relied on traditional methods. But the question is, can we merge technology with these practices for a more efficient approach? The answer is a definite yes. By embracing technology, we can enhance efficiency, save time, and create solutions that align with the expectations of today's consumers. It's an evolution for law firms, paving the way for a smoother, faster, and easier journey.
What do conveyancers need to meet client expectations?
Two key elements stand out. Firstly, an online quotation system, and secondly, a cloud based client portal. When combined with an integrated case management system, or conveyancing software, these tools can connect the moving parts of the conveyancing process and create a streamlined, quick, end-to-end journey for both you and your clients. The added benefit? These integrated solutions could also make sharing information with Estate Agents, Mortgage Lenders, and other stakeholders easy and transparent.
Imagine having a centralised data source or platform that not only facilitates real-time sharing of information but also streamlines communications, ensuring everyone involved is fully informed and up-to-date with the next steps. The result? Reduced transaction times across the board and improved client satisfaction.
In today's 'always on' or on-demand culture, clients now expect to have the flexibility to complete information and share it with you anytime and on any device. Allowing clients to obtain quotes from your website, instruct you digitally, and securely message you through an app aligns with the expectations of today's consumers. Moreover, the digital ecosystem you and your clients use can be supported with a security blanket to guard against cyber-attacks.
Consider your digital footprint – it expands more than you might think. A secure portal, incorporating features like Multi-factor Authentication (MFA) and biometric identity verification, stands as the easiest and most secure way to protect both your client and your firm.
At a conference, Matthew Hill, CEO of Legal Services Board, emphasised the importance of law firms providing technology that grants access to services, enables easier use, and commands public trust. These three elements encapsulate the market, offering a compelling proposition to consumers choosing a law firm to work with. Imagine the power of providing services that are easily accessible, user-friendly, and built on trust – a winning combination for both you and your clients!
Online automated conveyancing quotation tool
Imagine having the power for your clients to receive quotes directly from your website – it's an absolute must in today's digital age. Think about your experiences with other service providers like Amazon; you expect a quick and seamless online journey, the ability to get prices and quotes instantly, rather than waiting for someone to call you back. As today's consumer, you crave things on-demand. If you're not leveraging an automated online quotation tool on your website, rest assured, your competitors are and you might be missing out on clients.
But here's the game-changer – your online quotation tool can seamlessly sync with your other conveyancing software and legal case management software. Picture this: automated actions, triggers for tasks, and the creation of a case with pre-populated information. Just think about the time you'll save by skipping the process of delving into your emails to review quotation requests, copy information to your case management system, create a quotation document, write and send an email to the prospective client, and then upload documents back into the system.
The online quotation tool we’ve developed allows a quote to be generated and shared with a prospect in just 60 seconds. Imagine that – a quote tailored to your needs, including all your fees, HMRC, Land Registry, and Land Transaction Tax. And here's the best part – our tool seamlessly integrates into your branding, using your logos to give the quote a professional look and feel. Hear from Jarmans Solicitors who take full advantage of our online quotation tool:
“We can now offer clients a streamlined process from the quotation stage onwards – we love the fact that Legal Bricks offer a one-stop shop which makes things so much simpler”.
Digital client portal
From an organisation level, if you use the quotation tool with a client portal, you can manage your pipeline, stats, conversion and processes just as Glover Priest Solicitors do with our software “The quotation tool, client portal and AML/ID checking service from Legal Bricks has really streamlined our conveyancing process. Not only is it quicker, it gives our conveyancers a snapshot of progress at any given time and means they have visibility on every part of the transaction”.
This is powerful because you’re looking at the start of the journey and progressing into the client domain, and it’s all being tracked and logged in your legal case management system. This connected digital ecosystem is the way modern conveyancing firms operate.
Like the quotation tool, the client portal we provide can include bespoke branding in line with your website. It is also mobile, tablet and PC responsive, making it easy to use no matter what device the client is using. Client portals are becoming increasingly important in the legal sector, with one key finding stating that client satisfaction rates can increase by up to 30% when law firms provide 24/7 access to case files through secure client portal[10].
Must have features in a client portal
E-signatures have transitioned from a nice-to-have feature to an essential tool for most law firms today. Here's why: imagine the benefit for you as a client, being able to sign documents quickly and easily from anywhere. It not only enhances your experience through convenience but also allows you as the law firm to progress cases swiftly, eliminating the need to wait for you to come into the office.
Leah Leach, an award-winning Residential Conveyancer, shares her experience with our e-signature platform:
“The platform offered an easy-to-use signature button, simplifying the signing process. Once signed, it just took a single click to submit the documents instantly. I also received copies of the forms for my own records, giving me peace of mind that the conveyancer had received them simultaneously.”
What’s more, with encryption and digital technologies, the storing of data, geo location analysis, the efficacy of the information that's contained within an e-signature, is far more secure than a traditional wet signature.
Additional security services such as secure messaging are also becoming the norm and something clients expect, and in some cases, prefer to interact with. This communication tool is a great way to store transact data with your clients knowing that it's encrypted and the sharing that information no longer be a concern for both parties. Plus, it stops the headache of dealing with mountains of emails clogging up your inbox!
We've crunched the numbers and found that through our built-in client journeys, incorporating document sharing and completion, Biometric ID checks, secure messaging, e-signatures, and other brilliant features in the client portal, we can significantly reduce conveyancing transaction times by up to 30%.
HM Land Registry switch to digital processes
HM Land Registry have not only embraced technology but have taken great strides in digitising some of the processes they’re involved with. Since November 2022, they switched to digital applications as the default for business customers submitting applications to change the register. This is why it is important to have a conveyancing software that integrates with HMRC removing the burden of multiple logins and websites.
We know following the completion of a land or property transaction, there is a significant amount of paperwork that needs attention before successfully concluding the case. Imagine if your responsibilities to HMRC and HMLR could be efficiently managed in mere minutes, rather than hours or even days.
This is where or conveyancing software can help. With our HMRC integration, you can submit your SDLT forms online via our portal, ensuring a quicker and more streamlined experience. This gives you back the time to focus on your client relationships and non-administrative tasks.
What are the benefits to digitising the conveyancing processes?
By embracing technology, you not only streamline your operations but also align perfectly with the on-demand expectations of today’s consumers. As mentioned at the start of the blog 95% of firms have found that implementing technology has made them more responsive to client needs so the question lies can you afford not to implement a digital conveyancing software?
From an operational perspective, consider the impact in your day to day tasks. By adopting technology you can significantly reduce the hassle of data entry, minimising the room for errors associated with manual input. Moreover, it allows your firm to operate from a central data source, a single source of truth. This not only ensures greater accuracy but also enhances cyber security and integration capabilities.
This approach aligns perfectly with the on-demand approach discussed earlier. It enables real-time sharing of data and information, making it easy for you and your staff to manage client engagements and workload. Linking client portals, website enquiries, CRM, case management, and other conveyancing software means automated reminders and updates can be sent directly to you, speeding up case progression with minimal human intervention. Your fee earners can focus on more meaningful work, and, naturally, your clients will experience greater satisfaction.
To be clear – technology is the facilitator, but humans are the innovators. We must understand that we build the technology and adapt it. But as an organisation, recognise that without your team, information technology doesn't work for you. Involve your staff in defining the tech strategy, seek their feedback, and showcase the value to them. The key is to break down silos within your teams and integrate your technology stack seamlessly. Just as Glover Priest solicitors have done with our conveyancing software:
"The conveyancing team have adopted its use really easily and all that was needed was a 1 hour training session to get everybody up to speed, which is testament to how straightforward the onboarding portal is."
Here at Access Legal we're here to collaborate with you, understand your strategy, assess your current solutions, and adapt and create processes that align with your journey. Our aim is to assist you in reaching that golden chalice – quicker transaction times, fewer fall-throughs, and more profitability for your firm.
As we wrap up, ask yourself: Is it time for your firm to take the leap into the next steps of technology and modernise your conveyancing process? If the answer is yes, reach out to us today. Our experts are ready to understand your firm's needs and help you achieve your goals moving forward.
Footnotes
[1] https://aag-it.com/law-firm-statistics
[2] https://www.finder.com/uk/digital-banking-statistics
[3] https://www.statista.com/statistics/275786/daily-internet-users-in-great-britain/
[4] https://www.statista.com/statistics/275999/household-internet-penetration-in-great-britain/
[5] https://www.uswitch.com/mobiles/studies/mobile-statistics/
[6] https://datareportal.com/global-digital-overview
[7] https://www.smartinsights.com/social-media-marketing/social-media-strategy/new-global-social-media-research/
[8] https://uk.pcmag.com/the-why-axis-serie/150116/heres-what-happens-in-60-seconds-of-global-internet-activity
[9] - https://explodingtopics.com/blog/data-generated-per-da
[10] https://verify365.app/study-shows-legal-tech-can-significantly-improve-law-firm-efficiency/