Challenge

Thrive Title experienced rapid growth with a 101% increase in annual transactions over a 2 year period. To support this, Thrive needed a solution that would help them process orders efficiently. Also, with more business vendors to communicate with and a higher volume of documents shared, Thrive needed a secure, centralized platform to easily collaborate and communicate with its realtors and lenders. With its previous title and escrow software, Thrive’s closing process was inefficient and manually intensive. Lack of security in exchanging documents with its clients compounded Thrive’s pain. There was also consistent back and forth during information exchanges with lenders, and it proved difficult to scale these processes with a growing customer base.

Goals

Thrive wanted a platform that could streamline the closing process. In particular, two key elements of importance were: 1) Providing better connectivity and communication with their clients and 2) Enhanced security in data sharing.

Solution

In the beginning of 2018, Thrive transitioned to Qualia’s title, escrow, and closing platform and added on Qualia Connect. With automated workflows, Qualia helped Thrive eliminate many of the time-consuming tasks, including redundant data entry and countless phone calls. With the addition of Qualia Connect, Thrive was able to provide its clients with a secure collaboration platform that included document sharing, automated data entry, and real-time closing progress tracking. With all parties on Connect, communication with lenders and realtors was more seamless, as clients were able to track the progress of the closing and access all shared documents in a central location.

Results

• Increased productivity:

  With the same team, Thrive now processes 20% more transactions than last year

• Heightened data security:

  Thrive migrated all customer data from an insecure, hosted software to Qualia, a SOC2 certified system

• Improved clients’ closing experience:

  With Connect, Thrive’s realtors and lenders can track the progress of the closing and access all shared documents in one central location