Nowadays, the real estate industry is experiencing massive market fluctuations and volatility. As a result, just like mortgage services, the signing companies have shifted their focus to reduce costs and risk optimization. They are taking all initiatives to improve the overall customer experience using the latest technology.
Notary software has become one critical tool for signing services to beat the competition and attain efficiencies. More signing services have started using this technology to ensure a superior customer experience and cost optimization. Digitization is the prime driver of this millennium, and like other sectors, signing companies are also availing of its benefits.
Through this blog, you will be able to know the various challenges faced by signing companies, such as notary scheduling and streamlined workflow. In addition, the article will cover how the CloseWise notary tool can help signing companies reduce costs, achieve superior customer satisfaction, and maintain data integrity & compliance. Stay tuned till the end.
The Challenges Exist In The Signing Industry Before The Inception Of Notary Software:
From hiring a notary to scheduling the closing/signing order, the whole signing process has always been challenging for a signing company. The signing process had to go through numerous steps and validation. A signing company must deal with multiple signing orders and scheduling monthly.
Before the inception of notary software, the notary scheduling took more time to complete. Lack of automation had also made their document signing process cumbersome. Let’s look at some of the critical challenges of manual document signing.
#1 Higher Costs
The manual document signing process put administrative pressure on the notaries and other staff members. The amount of time they invested in completing the documentation and authentication process was uneconomical. The repetition of human errors during document signing and checking put the reputation of the signing companies in jeopardy. Delays in the closing also resulted in a potential revenue loss for notaries and their clients.
#2 Time-Consuming Closing
Client management has become a challenge for big signing companies and experienced notaries. Before the innovation of an automated notary tool, the signing services and notaries had to rely on manual entries to schedule, track, and organize their clients. Delays in attending to clients resulted in losing potential clients and revenues. In addition, notaries were unable to take new orders as the existing closing would take time to finish.
#3 Compromised Data Integrity & Unsecure Compliance
Traditional signing practices involved lengthy manual workflow full of errors. The outdated process for maintaining financial and legal records made the compliance process complicated. Most signing services and notaries struggled due to incomplete invoicing and defective tax records during the tax season. The lack of data integrity and security also puts signing companies at unnecessary compliance risk. Due to the lack of audit trails, notaries and signing agents had to put a lot of effort into finding proper records and reports.
#4 Miserable Customer Experiences
Each signing company must comply with the SLA requirements laid down by their respective lender customers. Manual workflow and outdated signing processes have made it impossible for signing companies to comply with these regulations. High-error rates and inefficient document signing practices resulted in miserable customer experiences. They also needed help with mitigating risks and adhering to quality standards outlined in the SLA requirements.
These challenges have made the prospect of signing business difficult. Due to the risk-heavy, lengthy, and inefficient scheduling process, the industry was suffering from catastrophic financial losses.
CloseWise: The All-In-One Notary Software Solution For Signing Companies
With CloseWise notary software, signing companies can easily manage their document signing workflow. Our notary scheduling software helps them reduce scheduling costs and provide customers with premium experiences. They are empowered to maintain efficient data compliance and complete transactions in less time. CloseWise empowers signing companies:
1: Become Cost-Efficient In Each Transaction
Automated workflow management from CloseWise has made the signing process cost-efficient. With the help of our notary tool, signing services can save more per transaction. Features like intelligent scheduling and client order management can integrate all critical information necessary for successful scheduling. With us, you can significantly reduce the notary fees and improve efficiency in dealing with many customers. It can also reduce costs associated with vendor management, document authentication, and uploading.
2: Ensures Secured Data & Security Compliance
We can help you manage your entire signing process in a single integrated platform. We help you maintain robust data security and integrity with minimum effort. In addition, this software also removes unnecessary risks associated with manual entries and paperwork. With this system in your hand, you can easily protect sensitive documents and critical customer information. Printed preview documents have risks like data leakage and unsecure emailing. CloseWise notary scheduling software allows you to communicate with each stakeholder securely and protect sensitive information.
3: Improve Your Audit Readiness
CloseWise is equipped with intelligent accounting and mileage log features that enable you to get better prepared for audits and tax compliance. Our notary tool gives you an accurate audit trail for all transactions. So you can achieve audit readiness and compliance competitiveness for your signing business. Accurate and timely tax fillings help you stay compliant with government regulations while achieving an edge over others.
4: Provide Premium Customer Experience
Features like agent payroll, approval automation, and confirmation upload technology help you maintain control over the entire signing process. In addition, it also helps you keep track of past orders and signing records. The process of tracking and controlling the entire signing process provides you with an opportunity to improve your service quality and efficiency.
5: Close More Signing Orders & Update Clients
CloseWise notary software helps you schedule and track the document signing process in minutes. It gives you an organized system to streamline your workflow and update your clients in time. With this system, your signing company can close more orders and earn more profits with each signing order. In addition, reduced administrative and accounting costs also help you expand your document signing business in other locations.
Automated notary management software like CloseWise is vital in providing exceptional signing experience. The software has extensive features that have redefined the signing services industry. With a CloseWise automated notary scheduling solution, you can grow your business successfully and reduce operational costs to beat market fluctuations.
Features like intuitive integration, real-time notifications, and a multifaceted approach make us the ultimate choice for your signing business. We are helping notaries, signing professionals, and signing companies improve operational efficiency and service quality.