According to an ongoing research project by InfoTrack, digitalisation of conveyancing tasks peaks at the post-completion stage but there is scope for significantly more digitalisation at the pre-completion and client onboarding stage.
The data is contained in InfoTrack’s Digital Conveyancing Maturity Index, which uses information submitted by the Law Society, CQS, CLC, SLC, LawNet, The Conveyancing Association, and Bold Legal Group members.
Data collected so far shows approximately one third of law firms are attaining the highest possible level of digital maturity at the post-completion stage. However, InfoTrack report ‘huge room for improvement’ at other stages of the conveyancing process.
Sam Jordan, InfoTrack COO, said: “The missed opportunities in what are the most time and labour-intensive aspects of the conveyancing process are staggering.
‘At this point pre-completion looks like it’ll be the least mature area. We’re talking about technology that’s freely available that would save a busy conveyancing team days, weeks, or even months over the course of a year through efficiency and accuracy gains.’
Law firms can complete the Digital Conveyancing Maturity Index survey in approximately 10 minutes. The reports are free and completely confidential.
