Qualia Releases Report to Help Title Agencies Optimize Vendor Partnerships
December 7, 2021
Qualia released a new reporting feature that helps title and escrow companies that use Marketplace analyze their operations and identify top performing vendors.
With the Vendor Performance Reports, title and escrow agents can identify which of their vendors, such as title search, release tracking and notary service providers, are delivering optimal performance and cost efficiency in particular states.
“Title and escrow agents deal with a lot of unpredictability in their business as order volumes fluctuate throughout the year,” said Brian Thome, Qualia’s vice president of customer success. “To keep delivering exceptional client experiences through it all, they depend on working with vendors who are predictable and efficient.”
These new reports provide a variety of new features, including real-time insights on vendor price changes and turn times. They also offer details on the volume of orders per vendor within a given time range, total spend and share of spend, and average additional fees per order. In addition, agents can uncover key insights on individual products, including pricing changes and historical product ratings, so they can make more informed ordering decisions.
“Reports in Qualia help keep us and our vendors accountable,” said Matthew Bachner, title operations manager at LemonBrew Abstract. “Using these reports, we discovered that one of our vendors was actually delivering their products back to us even sooner than what they promised. We were able to work more closely with them and ultimately improve our client experience.”
Title and escrow agents can now use these reports to:
- Uncover which vendors deliver highly rated products consistently within a given time frame.
- Determine the most high-performing vendors in a given area, with filters by state and county.
- Identify which products agents are spending the most money on and if those costs have increased or decreased over time.
- Review spending habits by vendor to determine opportunities for cost savings.
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