SAN FRANCISCO, Calif. -- April 19, 2023 - Qualia, the leading digital real estate closing platform, today announced the release of the Audit Readiness Dashboard as part of its Reconciliation Service. The new Audit Readiness Dashboard enables title and escrow companies to view all exceptions, uncleared items, and non-zero orders for each of their bank accounts in real time to materially reduce the time it takes to complete reconciliations.
The Qualia Reconciliation Service pairs title and escrow companies with experienced, dedicated reconciliation specialists who perform daily reconciliations, clear exceptions, and complete month-end three-way reconciliations up to three times faster than those without the service. The new Audit Readiness Dashboard is embedded in Qualia Core, and enables users to efficiently perform reconciliation activities alongside their Reconciliation Specialist. Users are able to quickly examine audit red flags that require their attention, including file shortages, stale overages, outstanding credits, and outstanding lienable items.
"Title and escrow operators are doing everything they can with technology and operational best practices to mitigate the substantial risk of fraud that's afflicted real estate,” said Brian Thome, Qualia's Vice President of Customer Success. “Agents might be accustomed to navigating between systems or reviewing a static daily morning report in their email with legacy systems. The Audit Readiness Dashboard removes that friction for customers because exceptions, uncleared items, and non-zero orders are all centralized in their system of record."
The Audit Readiness Dashboard gives agents uninterrupted visibility into the health of their escrow accounts and reduces time to issue resolution in a number of ways. The dashboard surfaces the most actionable information on its overview page, including file shortages, stale overages, outstanding credits, and outstanding lienable items. Additionally, when an action is taken in the accounting section of Qualia, updates are reflected in the Audit Readiness Dashboard in real time. For example, users can identify a file with an outstanding item and jump to that file with one click to research and resolve the issue. The changes are reflected immediately.
“I love that the Audit Readiness Dashboard gives me updates on potential audit concerns in real time instead of only once daily,” said Jessica Waicker, Attorney and Co-Founder at Lawyers Express Title, LLC. “It’s my morning ritual to get a cup of coffee and sit down to review the dashboard before things get crazy during the workday.”
The Audit Readiness Dashboard is available now for Qualia Reconciliation Service customers. To explore more information about Qualia’s full suite of accounting features and services visit qualia.com/reconciliations.
Qualia is the leading comprehensive digital closing platform used by title, escrow, real estate and mortgage lending professionals to transform home buying and selling into simple, secure, enjoyable experiences for millions of homeowners each year. The Qualia platform provides a secure system of record for the real estate settlement ecosystem through a suite of workflow, accounting, reporting, and collaboration products as well as its expansive product and service integrations. Qualia is headquartered in San Francisco, CA and has offices in Austin, TX, and Superior, CO. For more information on Qualia, visit Qualia.com.
Matt Kaufman, VP of Marketing