InfoTrack: First comprehensive Digital Conveyancing Survey highlights the digital divide
The recently launched Digital Conveyancing Maturity Index found that over half of all law firms surveyed are falling behind when it comes to the adoption of digital conveyancing tools.
Conducted by InfoTrack, the research surveyed the digital capabilities of over 200 law firms across England and Wales to identify which areas of the conveyancing process are most and least digitised within firms – from client onboarding to post-completion.
Working alongside Law Society, CQS, CLC, SLC, LawNet, The Conveyancing Association, and Bold Legal Group, the report enables law firms to assess their progress and benchmark themselves against similar firms and their wider competition.
Across the industry, an average digital maturity score of 43% highlights the continued need for awareness around digital solutions that can significantly benefit conveyancers.
While most firms are still in the earlier stages of adoption, there are a small group who are excelling when it comes to digital adoption – scoring in the 80%+ range. For firms who scored highly, integrating their case management system with other digital services was the biggest differentiator, giving them a single source of truth with data supporting every part of the conveyancing process.
Post-completion was the front runner when it came to digital maturity, with an average score of 58% and almost a third of firms scored full marks. eSignatures are a good example of the digital divide: 22% of firms still aren’t accepting them at all, meanwhile 16% are using them to sign Land Reg deeds and 11% for Mortgage Deeds. The survey also highlighted potential challenges related to risk and compliance, alongside missed opportunities for firms around productivity and time-saving tools.
“The overall industry average score suggests a lot of firms are still in the early stages of their digital conveyancing journey. However, we did see some exceptionally high results. The biggest concern here is some firms’ speed of adoption of technology in the pre-completion stage. It’s the bulk of the conveyancing work and the area that’s the least digitally mature.” comments Sam Jordan, InfoTrack COO.
A copy of the full report is available for download. The study remains ongoing and law firms can access a complementary assessment and personalised report here.
