In today’s modern times, it’s a necessity to utilize technology to stay competitive as a notary. A critical piece of notary technology is the use of the software.
In order to choose the software that is best for you, consider these steps:
Make a Plan
First, determine the specific goals you have for the software and the features it must have to be successful for you and your team. Collect feedback from staff to get their buy-in early in the process.
Develop a Budget
Review your current budget availability for technology expenses. Identify any cost savings you may incur by adopting new software. Perhaps you could reduce some labor expenses through automation.
Identify Specific Software Needs
Develop a list of what your needs are. Prioritize key processes that are most important to you or your organization. Avoid customization to software wherever possible to save on costs.
An obvious requirement for notary software is fraud prevention. To prevent fraud, the latest technologies in multi-factor authentication, credentialling analysis and knowledge-based authentication need to be a part of the software. Multi-factor authentication confirms identity by sending an email or message to a secondary device for verification. Credential analysis is part of best practice in online notarization, ensuring identities are verified through photo ID through a third party. Knowledge-based authentication is a scheme in which identification is confirmed through at least one “secret” question.
Research Software Options and Vendors
Research potential software options. Develop a broad list of software with the capabilities you have identified. Reduce your list down to two or three after reviewing recommendations and getting input from your staff and other agencies.
Participate in Software Demonstrations
When the list of software is down to a few, it’s time to see a demonstration of the software options with your team. Go through your list of software requirements to see how they stack up against each other.
Understand Which Software Brings the Most Value
Decide on the best fit for your organization based on your needs, pricing, functionality and ease of use. Check references and reviews. Identify which software provides the best support. Review the pricing structure of each software. Is it best to pay monthly or annually? Are there any hidden costs?
Make a Decision and a Timeline of Implementation
Identify which software provides you and/or your organization the most value. Choose the software to best meet your needs and develop a timetable of when you will begin to use the software and how it will be phased in. Dedicate time for training to effectively introduce your new software.
A Better Way to Close with BNN Services
Since 2008, BNN Services has been trusted by title agencies, mortgage lenders, servicers, and consumers to perform loan and document signings in multiple languages across the country.
Unlike other signing services, BNN Services “touches” every file 8 to 9 times, ensuring the process moves forward free of delays. That is why we have completed over 250,000 signings in all 51 jurisdictions and maintained a closing ratio of 96 percent.
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