As a company that has dedicated over two decades to helping management companies maximize their profits from resale document processing, we understand the challenges and opportunities that come with this crucial task. We've witnessed firsthand how inefficient resale document processing can hinder a company's profitability and leave money on the table.
The In-House vs. Outsource Dilemma
The decision to handle resale documents in-house or outsource to a third-party vendor is often driven by three primary concerns: revenue retention, perceived efficiency, and the overall feeling of control. Companies that choose to process documents in-house may fear losing revenue by outsourcing, while those that opt for external assistance seek to reduce their staff's workload and maximize profits.
Regardless of the approach, measuring the effectiveness of resale document processing is paramount. Companies should carefully evaluate the time and resources allocated to this task, including:
Processing and reviewing documents
Locating addresses and completing forms
Maintaining financial records and Board of Directors minutes
Uploading and replacing expired documents
Addressing customer inquiries and emails
The Hidden Costs of Inefficient Resale Document Processing
Inefficient resale document processing can have a significant impact on a company's profitability. Unnecessary time spent on administrative tasks diverts valuable resources away from core business activities, leading to reduced productivity and potential revenue loss.
Moreover, companies may miss out on opportunities to generate the income they should by not offering a comprehensive suite of resale documents (even if they “bundle”). Failing to provide homeowners with all the necessary information can lead to frustration and unnecessary customer service issues.
The Path to Profitability: Measure, Optimize, and Profit
In today's competitive market, where property turnovers are at an all-time low, it is more critical than ever for management companies to optimize their resale document processing practices. By carefully measuring their current process, identifying areas for improvement, and implementing effective solutions, companies can unlock hidden profitability and enhance their overall financial performance.
GetDocsNow: Your Partner in Optimizing Resale Document Processing
We at GetDocsNow have witnessed the transformation that optimized resale document processing can bring to management companies. Our system is designed to streamline the process, reduce customer service issues, and ensure that companies capture every potential revenue opportunity.
All of our clients have expressed their satisfaction with our services, highlighting the significant increase in revenue they have experienced. One new client exclaimed:
"I can't believe how much money we made on documents last month; we have never made anywhere near that much."
If you’re interested in discussing this further or learning more about how we at GetDocsNow increase profitability and efficiency please reach out via email at bgreene@getdocsnow.com or click here to schedule a conversation.