WebDocs gives Realstar an edge on the competition
When Realstar Title began offering residents of the Twin Cities a range of real estate services in 1995, the company never envisioned some of the challenges its rapid expansion would create.
Overwhelmed by paper
The number of forms and documents required for most real estate transactions makes the business not only labor-intensive, but paper-intensive. Reams of paper documents are generated, all of which need to be easily accessed and safely and securely stored.
Realstar quickly learned that the 20-30 documents involved in a typical closing created a document management problem. Original copies of documents needed to be saved, as did copies, faxes and print-outs of public records. With documents retained for seven years, boxes of files stacked up in a hurry, creating storage issues.
Quickly locating these documents and sharing them with employees at other offices was also a concern. If documents were misfiled or lost, closings could be delayed and additional fees could be incurred.
WebDocs to the rescue
Realstar now uses WebDocs to access and electronically manage, store and route all of their title paperwork and business-related documentation.
The software allows employees to scan their closing documents into WebDocs as they’re created. Documents are now accessed from any standard web browser and are easy to find and share, thanks to indexed keys and full-text searches. The system’s built-in workflow capabilities also allow users to establish automated workflow routing processes.
Focus on customers, not file cabinets
Realstar now focuses on customers instead of paperwork. Documents are instantly accessible from anywhere – a branch office, an employee’s home, the office of a mortgage broker.
The days of frantically rummaging through boxes and filing cabinets for important documents are long gone. The average closing file size has been reduced from 100 pages to 10 pages, cutting storage space needs by nearly 65 percent.
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