Imagine sending a report to a client, only to find that the report contained details from a previous valuation… for a completely different client, for a property in another city.
Ouch.
After many apologies, this embarrassing mistake underscored the urgent need to implement more robust document creation processes. That’s where we (obviously) came in.
Document automation prevents these kinds of errors, as well as ensuring compliance, efficiency, and data accuracy. We’ve seen first-hand how manual processes lead to errors, inefficiencies, and sheer frustration.
Here’s how automation can help…
Centralised Updates and Compliance
Manual updates to valuation reports are not only slow but also prone to mistakes.
Imagine not only trying to keep track of every regulatory change, but then updating every template you have for each valuation purpose and client and then ensuring that each valuer in the firm is using the latest template – this is a logistical nightmare!
Document automation centralises everything, ensuring valuers are always using the latest template. This is crucial for maintaining compliance with ever-changing RICS Red Book standards and legislative updates. With document automation, changes are made centrally and instantly reflected across all reports and disseminated to all valuers.
This helps reduce risk and ensure all templates that are being used and sent to clients are the latest versions and issues with outdated references and non-compliance are eradicated.
Efficiency and Consistency
Creating reports manually is a grind. But with document automation, this is a thing of the past.
All the data you gather from third-party websites as well as any company and regulatory-specific wording are automatically inserted into the relevant sections of your reports at the click of a button.
This streamlines report generation and keeps everything looking sharp and consistent. Your reports will not only meet regulatory and client requirements but also exude professionalism. We’ve seen firms transform their output from inconsistent and error-prone to polished and reliable, all thanks to automation.
Error Reduction
Copying and pasting information from old reports, or even worse, using an old report as a foundation for your latest valuation is a recipe for disaster!
Although we would like to think these practices do not occur, they certainly do. This can lead to silly mistakes which are often missed and then you have a client reading about the office market in Newcastle for a retail property in London… not a good look!
Automated systems ensure each report starts from a clean slate, drastically reducing errors and ensuring your clients get the best service.
Client-Specific Customisation
Different clients have different requirements, and manually adjusting reports for each one is a headache. The other approach is to have a different template for each client… but then if there is a regulatory change or an update is required to the template you would have to update multiple templates which is time-consuming.
With document automation, templates adjust automatically to meet specific client needs. This means fewer revision requests and happier clients. Imagine being able to select a client, and the system automatically updates the template to include their specific requirements. It saves time and ensures that each report meets the client’s exact specifications.
Focus on Analytical Work
Automation handles the grunt work, freeing you up to focus on the important stuff – the analysis, rationale, and judgment calls. This shift lets you spend more time on thoughtful analysis, improving the overall quality and reliability of your valuations. You can dig deeper into the data, provide more nuanced insights, and ultimately deliver a more valuable service to your clients.
Integrated Audit Trails
Document automation can also include automatic case file creation and evidence capture. This is crucial for audit trails and compliance. It saves time and ensures all necessary documentation is in place, protecting you during audits or disputes. Having a comprehensive audit trail means you can easily back up your valuation with all the necessary data and evidence, which is essential for maintaining credibility and trust.
Onboarding and Standardisation
The onboarding process for document automation might sound daunting, but it’s a golden opportunity to standardise your templates.
Our team of experts are the most experienced in the industry when it comes to automation of valuation reports, having automated hundreds of templates for clients of all sizes. What’s more, we take on the brunt of this work so that you have no disruption to your operations during the process.
Our team are here to help you sort out inconsistencies, ensure everything’s up to date, and even offer some helpful advice. You send us your reports, we do the heavy lifting – it’s as simple as that!
This standardisation process not only improves efficiency but also ensures that all your reports are consistent, professional, and compliant with current regulations.