Preparing title documents is a time-consuming, multi-step process. However, many of the individual steps involved are simple and well-defined. Employees usually find these repetitive tasks boring and tedious, and have trouble remaining engaged in such work at peak efficiency over long periods of time. These characteristics make loan document preparation a prime target for business process outsourcing (BPO) and business process automation (BPA). In addition to its high-quality BPO capabilities, Visionet Systems now offers robotic process automation (RPA) solutions to ease your document preparation team’s workload.
VALUE AND FLEXIBILITYUser-configured automation for cost-effective title processing
Robotic Process Automation is an emerging variant of BPA that allows business users to configure pre-built software “robots” to perform a series of tasks and produce a desired result without direct user intervention. Some examples include comparing or verifying document information, generating new documents based on existing data from different sources, and sending emails or other notifications when specific trigger conditions are satisfied. Unlike traditional BPA services, RPA does not involve a single, unchanging solution, designed and maintained by a specialized software development team, intended to address a static business need. Instead, robots that have been deployed can be reconfigured in the event of a change in business procedures.
Decades of experience designing and executing technology projects for the Title & Settlement industry makes Visionet Systems the ideal technology partner for RPA implementation. Our team of business and technology specialists have the knowhow to drastically shorten robot deployment times for loan servicers and title firms. For the Title & Settlement industry, the applications of RPA include commitment typing, document capture and management, title search, and vendor oversight, among others. Robots can be quickly reconfigured to verify and compare different sets of documents, and check for compliance against a constantly changing list of regulations. These changes can be made by the user, without the need to contact a software vendor or wait for a development team.
Title AutomationReduce your operating expenses and shorten your closing cycle
For commitment typing and similar procedures, Robotic Process Automation offers mortgage companies unmatched value. Since robots operate tirelessly and perform tasks with much higher accuracy, each job that a robot is deployed for undergoes, on average, a three-fold increase in efficiency. The one-time cost associated with deploying robots allows title companies to prepare documents more quickly and at lower cost than either onshore or offshore teams. Additionally, the human workers that previously spent their time performing these repetitive tasks can now make better use of their time and abilities, leading to more effective skill utilization and significantly higher job satisfaction.
CORE BENEFITSEfficient and accurate commitment typing
at unbeatable value
Here are just a few reasons why robotic commitment typing is the best long-term solution for title preparation:
- Robots work tirelessly, 24 hours a day
- Automation improves accuracy and ensures impartiality by eliminating unnecessary human involvement
- Commitment typing costs brought down to as low as $5 – lower than onshore or offshore human personnel
- Superior robot efficiency reduces loan processing time
- Improves employee satisfaction and skill utilization by freeing them from boring, repetitive chores
- Robots can be reconfigured by employees, instead of constantly requiring assistance from process automation experts