"Is It really Too Expensive?" ...
As the world is becoming more and more driven by technology, businesses are having to make room in their technology budget to keep up with the market. Technology propels almost every area of our lives. Its significant impact accelerates innovation, connects global communities, and shapes industries.
But there is one common reason some people stray away from technology; the money. We will say it: technology and new software is spendy! If your budget is tight, an investment in technology may not even seem like an option for you.
However, it often costs companies more when they choose not to invest in technology. Forbes recently had an article that stated, "55% of companies without a digital transformation believe they have less than a year before they start to lose market share.” So, there will be a cost whether you choose to invest or not.
Reasons Not Investing Could Cost You More
1. YOU WILL BE LEFT BEHIND AS THE MARKET MOVES FORWARD WITH TECHNOLOGY
Elon Musk is coined for saying, "Some people don't like change, but you need to embrace change if the alternative is disaster."
Whether we like it or not, title & escrow companies continue to adopt more and more technology. Check out these 3 statistics that echo the growth of technology.
- Emerging tech will experience a growth rate of 104% between 2018 and 2023 (Statista)
- Technology is responsible for driving more of the U.S. economy than any other profession aside from healthcare (CompTIA)
- The U.S. tech industry is expected to have a CAGR (Compound Annual Growth Rate) of 5% through 2024 (CompTIA)
2. YOU WILL FAIL TO Meet Customer Demands
The undeniable truth is that your customers are going to go where they get what they want, and you will lose out on business if you don’t follow the trends.
Not having an attentive ear to your customers will set you back and could require a lot of time trying to catch back up. Technology has made customers become accustomed to updates during orders and if they can track the status of their $10 Pizza, they should also know the status of their $500,000 home closing.
CloseSimples Pizza Tracker for Title™ provides a visual representation of the progress of the customers transactions. The pizza tracker can be customized by timeline and role. By addressing their needs, your title and escrow company can enhance offerings, refine strategies, and maintain a competitive edge.
Here's what our pizza tracker looks like ... which can be customized to your brand.
Thanks to many technological advancements, title and escrow companies are spending less time on tasks that used to require a longer amount of time. With CloseSimple, your team will save a minimum of 30 minutes per file. Technology plays a pivotal role in diminishing operational costs for businesses. We integrate with SoftPro, RamQuest, ResWare, and GreenFolders to help you streamline processes.
By streamlining the closing process, our customers experience enhanced efficiency and less manual workload. Automating communication allows your team to dedicate more time to high-priority tasks and customer interactions. This optimization can lead to faster closing times, improved client satisfaction, and increased referrals.
4. AN UNSTABLE MARKET POSITION
According to Forbes, the main benefits of digital transformation are improved operational efficiency (40%), faster time to market (36%) and the ability to meet customer expectations (35%).
CloseSimple is designed to adapt and scale according to your title and escrow company's needs. As your operations grow, our product continues to provide consistent value without requiring substantial investments in additional resources. The return on investment becomes evident through reduced errors, enhanced collaboration, and overall operational excellence.
It's also important to remember that selecting a solution solely based on cost can sometimes lead to hidden expenses, such as time spent troubleshooting and addressing inefficiencies. CloseSimple's soundness and user-friendly interface decreases the need for extensive training or ongoing support, further maximizing your team's productivity.
While the initial investment might appear higher, the long-term advantages in terms of efficiency, customer satisfaction, and growth potential make our product a wise choice for title and escrow professionals who seek a competitive edge in the market. We're committed to partnering with you to deliver exceptional value that transcends the initial cost.
Next Steps
At CloseSimple, we find a plan that works best for you and your team to achieve your goals. Our main priority is to make your title and escrow agents look like rockstars.
Curious about pricing but don’t want to commit yet? We would love to chat! Schedule a time with someone on our sales team to discuss what CloseSimple could look like for you.
