How to achieve firm growth in a challenging market

Explore the evolution of eConveyancing and strategic outsourcing: Navigating success in today's dynamic legal landscape.

Promoted by SettleIT 29 August 2023 Big Law
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Interest rate hikes, surging inflation, and indications of economic deceleration have all had an impact on Australia's property market. During a time of lower consumer activity, the primary focus for legal professionals remains on delivering impeccable legal services and cultivating robust client connections. Achieving this goal necessitates the streamlining of administrative tasks, freeing up more time to focus on business growth. But what is the best way for your firm to navigate this?

The evolution of eConveyancing

When electronic settlements made its inevitable introduction in the legal and conveyancing scene in 2010, the expectation was that this would present practitioners with opportunities for time and cost savings. However, at the time with no mandates, the incentive to change from well-known manual practises was lacking. Fast forward to today, and the eConveyancing landscape has undergone a remarkable evolution.

Daniel Petrucci, General Manager of SettleIT, highlights the extraordinary transformation of the eConveyancing process. “Governments across Australian states have embraced electronic conveyancing through mandates, resulting in streamlined practices. With an extensive track record encompassing over 100,000 electronic transactions since 2018, SettleIT stands as an award-winning, premier eConveyancing solution in Australia.”

Efficiency through outsourcing

With the increased adoption of electronic conveyancing, it is important to maintain this progress and consider what the next steps may be, in creating more efficiencies for firms and practitioners.

SettleIT is a leading solution for all property matters and it has supported thousands of firms to outsource electronic settlements and the lodgment of registry documents. The platform has been designed to handle heavy administrative duties, which supports firms to focus on building their business to handle greater volumes of work, without having to increase headcount or sacrifice service delivery.

SettleIT's approach is strategically tailored to provide legal firms the liberty to focus on their core competencies. For a fixed fee, SettleIT takes charge of settlement and lodgment administration, liberating you from these time-intensive tasks. This empowers practitioners to concentrate on expanding their firms, delivering exceptional client service, and confidently navigating the ever-evolving legal landscape.

Growing your firm and delivering exceptional service

Growing your firm and delivering exceptional service go hand in hand. Just look at the success story of Prail Lawyers.

“Prail Lawyers is a small dynamic legal firm dealing with ACT and Commonwealth matters, specialising in Workers Compensation, Comcare, Employment, Estate and Conveyancing matters.

As a small firm dealing with a wide range of matters, we are time pressured. Time constraints include dealings in PEXA as an example. Prail Lawyers started working with SettleIT in June of 2020 for NSW settlements. We were immediately impressed with the service and support provided by SettleIT.

We are excited that SettleIT has moved into the ACT using PEXA. We have been working continuously with SettleIT in the ACT since May 2022. The ACT SettleIT team have managed our matters smoothly and without issue. In our experience their communication has been excellent. They deal with clients professionally and remove the stress of having to undertake settlements when we have other appointments or hearings or cannot deal with the PEXA settlement ourselves”.

Using SettleIT allows firms like Prail Lawyers to retain their competitive edge by dedicating more time to nurturing client relationships, pursuing new business opportunities, and delivering outstanding service. This, in turn, fosters repeat business and referrals.

In the face of market challenges, maintaining profitability and a competitive edge necessitates innovative strategies. The evolution of eConveyancing, combined with Prail Lawyers' success story and efficient outsourcing through SettleIT, offers legal professionals a blueprint for thriving in the current challenging and dynamic market. By embracing change and utilising innovative solutions, your firm can secure a flourishing future in the world of legal services.

Discover how your firm can retain their competitive edge by dedicating more time to nurturing client relationships, pursuing new business opportunities, and delivering outstanding service, and book a no-obligation SettleIT demonstration.

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