Disbursements often missed

In a recent survey with Today’s Conveyancer, Scott Bozinis, CEO of InfoTrack :“The results demonstrate that with over 60% of conveyancers receiving multiple invoices for any given matter, it is possible to miss disbursements. It is clear that accessing multiple websites for a single matter makes it difficult to keep on top of billing. A consolidation of the process is required to simplify the day-to-day conveyancing tasks in order to maximise revenue and time. The key to combatting these missed disbursements is through the use of technology which reduces the number of websites that need to be visited, relieving administration and bookkeeping headaches. InfoTrack technology enables conveyancers to improve the process by consolidating all the key tasks into a single platform, including electronic AP1 and SDLT forms, Contract Packs and Conveyancing Searches. Using our technology means firms receive a single, combined monthly bill making the bookkeeping of disbursements, such as AML checks and indemnities, simple.”

Heather Cameron, Marketing and Communications Manager at Today’s Conveyancer, stated: “It is clear from these results that in an already demanding role, dealing with many third parties all at once and errors like missing charging disbursements are as a result of insufficient processes in many instances. The fact that almost 74% of those surveyed feel undervalued by their client’s reveals just how high a client’s expectation really is on their conveyancer.

“We know the SRA in their most recent Risk Outlook, made it clear that they are looking to firms to innovate their processes through their use of IT to deliver a more streamlined approach to legal services; with the right IT practices, errors like this will diminish.”