Are you sure your new TPS doesn’t have this one, fatal flaw?
Occasionally, we hear from an agency owner or executive (and you probably have too) who’s ready for a new title production system (TPS). Maybe things have changed with their current TPS partner. Or maybe they need to modernize their workflows after using the same system – maybe a proprietary platform or a system that hasn’t evolved to meet the current environment – but there’s a hitch to address before they move forward.
“I really like working with several of my current vendors, but they don’t have integrations with the TPS I’m looking at.”
You shouldn’t have to give up your current vendor relationships to realize the value of an advanced TPS. Those partners have earned your trust and with good reason. Today’s TPS isn’t the end all, be all in an agent’s tech stack. We’ve moved on from the myth of a single stop solution and evolved to the importance of flexibility and the ability to customize to your business’ unique needs using the best solutions, regardless of who provides them.
That’s why tech providers of all types in all of the real estate segments are increasingly offering easy ways to keep your eSign or online title search (for example) partnerships, even if you have to move to a new production platform. That said, there are still occasions when a TPS provider has to tell you that they don’t have a ready-built integration with your favorite vendor’s solution.
Remember to ask these questions before signing the contract
It’s important to ask a few questions when you’re test driving a new TPS. Actually, it’s important to ask a lot of questions!
- Does the new TPS support a true integration with your vendor?
- Do you have to leave the TPS in order to still place orders with your desired vendor?
- Does it cost you more to use the integration with the new TPS?
- Can your vendor send the desired information back to your system, or do you have to manually enter the information, once received?
It’s not hard to see that, where the answer to any of these questions is “not really,” you’re likely to spend more and/or see less efficiency, in your resulting workflows and internal processes, than you might with a more flexible or better connected platform.
Why a true integration matters
A true integration enables an end user to use the application they wish, or interact with another vendor in the tech stack, without leaving the TPS. In other words, if you have to open another window in your browser, or go into another app, you’re not working with a true integration. It’s probably why we see so many production professionals in our industry with seemingly 100 tabs over 2 monitors on a semi-regular basis! Even if the seemingly tiny action of opening a window costs a few seconds, those seconds add up over dozens and then hundreds and then thousands of transactions. All time that could be spent speeding the file along to closing and an even happier client. Depending on the integration, you should be able to both send and receive data to and from the vendor.
Many agencies and settlement services firms have either swapped out or upgraded their TPS in the past five years. The title industry no longer has to wonder when it will see a digital transformation. It’s already happened. But now, the importance of a seamless tech stack has become almost as important as the TPS to an effective and efficient operation. Even as we enter into another market pivot, and one that appears favorable at that, title businesses are seeking ways to optimize the technology they have and eliminate any choke points in their workflows. At a time when customers and the market will demand a faster, smoother process, a TPS’s ability to integrate with other apps and vendors is a must.
At VizionX, we understand what a true integration is, and we know how important your vendor relationships are to you. If you are curious which vendor integrations we will support in our soon-to-be-released TPS , VizionX TitleOS, we would love the opportunity to help you evaluate if our solution is right for you. Our SaaS based offering will be launched in early 2025. If you would like additional information or want to stay in the know, contact us at info@VizionX.com.
BTW, our own Teri Hanson is heading to Orlando for ALTA ONE this week. Be sure to stop by booth 13 and say ‘Hello!’”
