Collaboration is key to a smooth end of year settlement

The busiest time of the year is upon us for the settlement industry. SAI Global’s Property Division is an industry standout in low settlement failure rates however we continue to make every effort to work towards reducing this even further.

Critical to this is the company's workforce resource management tool, Enlighten, which provides settlement operational sites across Australia with the ability to prepare for the spike in volumes as home buyers and investors rush to settle before the end of the financial year. 

With the help of Enlighten, we spend most of October and November planning anticipated work volumes at an activity level. That is, we plan on how many settlements, lodgements and document scanning activities we expect will flow through for December and on what days and during which weeks. We then turn these activities into man hours, allowing our settlement sites to call in additional resources by way of casual employees to meet this demand while at the same time maintaining client service standards.

Gina Assimakis

SAI Global’s Property Division General Manager of Operations

With us taking such a methodical and mathematical approach to managing volumes, we are always properly resourced, our people aren't under pressure and we're able to do a great job. To complement additional resources, operational sites nationally also maintain close contact with our clients to ensure that the delivery of files and cheques are prompt and well in advance of settlement times. 

Collaboration is key to a smooth settlement, we encourage conveyancers and legal practitioners to do their bit towards ensuring that year-end activity is largely error-free. Our customers can make a great difference by submitting their settlement instructions within cut-off times. 

We encourage all conveyancers and legal practitioners to make use of SAI Global's online 'transaction workspace', Settlement Room is a complimentary service for the conveyancing industry and provides an online transaction workspace where you can invite other purchaser or vendor representatives to collaborate online.

Here parties can communicate in real time and verify information about the property, the payout figures, settlement balances and payment directions, dramatically increasing the probability for matters to settle first time. 

Find out more about Settlement Room