Canyon Title Company Improves Turnaround Time with ResWare
We understood its power immediately and talked to a lot of people about it. It met all the requirements and offered a large degree of features and flexibility.
Canyon Title Company was formed in 2001 and focuses on serving the Colorado market, processing approximately 500 title orders a month. Canyon Title was acquired by sales, marketing, and business professional, Robert Lindley, whose focus is on the team, technology, and processes has made him an ambassador of the new title industry.
Losing Time to the File Shuffle
When Lindley acquired Canyon Title, the first thing he did was watch employees. In two months of observation, he noticed staff would spend 20-30 percent of their time looking for, recreating, and merging paper files. Turnaround time was running two days or more, with outsourcing. Thanks to his background with large title agencies, Lindley knew big gains in service and efficiency would follow simply by improving productivity. Lindley set to work on creating a methodology for evaluating software vendors that would help him manage workflow. Among the requirements: the solution had to be paperless, powerful, offer complete file histories, and have integrated communications. After a lengthy evaluation process, Canyon Title Company selected ResWare.
“We understood its power immediately,” said Lindley. “It met all the requirements and offered a large degree of features and flexibility. We found during process mapping that the average transaction had 75 steps from end-to-end, and 97 percent revolved around three steps: request, receipt, and creation. ResWare’s Action Items offered the ability to measure exactly how long various requests take. The automation and reporting are unparalleled among the vendors we evaluated.”
$150K in Productivity Savings
Having completed a full migration to ResWare, Lindley saw turnaround time drop from an industrystandard two business days to just four hours – an immediate competitive advantage. With ResWare’s efficiency, the current staff handled a significant growth in business that would have forced him to add roughly three people with the prior process. Canyon Title was thus able to function with fewer people; Lindley’s conservative estimates place first-year savings at $150,000 with ResWare.
Market changes shifted focus from refinancing to resale, so Lindley and his team once again looked for ways to optimize their service and process, and in some cases, even de-automated steps where they deemed more customer contact was necessary. ResWare’s flexibility allowed Canyon Title to easily adapt to the changing market.
“We essentially want to have the best and most standardized way of doing things at our fingertips,” added Lindley. “Technology and superior processes are key in today’s industry. I know that with ResWare’s power and flexibility, and the support of their team, we’ll continue to be ahead of the curve.”
I know that with ResWare’s power and flexibility, and the support of their team, we’ll continue to be ahead of the curve.