Digital onboarding: why too many systems impact law firm efficiency

Digital onboarding technology has seen some of the fastest adoption rates among UK law firms, in part driven by necessity during the pandemic. Its impact has been welcomed by firms who aren’t looking back.

However, firms are now assessing whether the tools they have in place are serving them to the fullest potential. When it comes to electronic client onboarding there are still challenges that some law firms are experiencing, from a fragmented process and multiple providers to limitations with integrations.

In this article, we explore what the biggest challenges are for law firms in the digital onboarding process that create inefficiency. We’ll also look at the benefits of consolidating all steps of the onboarding process into a single digital platform – from convenience to speed to improved data integrity.

What are the challenges for law firms with digital onboarding?

With 18% of law firms sharing they aren’t satisfied with their client-facing technology, onboarding is one area spotlighted for prioritisation in 2023. Knowing how to make improvements that will impact your firm and your clients is imperative to getting the most out of your digital onboarding experience. So, what are the key challenges law firms are facing?

Disjointed onboarding process

A fragmented onboarding process can be a major disruption that could be slowing down the client onboarding process. There are numerous providers available that offer one or several of the onboarding processes electronically, from ID checks to verifying funds.

However, this simply takes traditional or paper-based processes into the digital space. It doesn’t address the disjointed approach. Finding a single system that enables you do manage every part of the KYC process in addition to other key onboarding processes is crucial to driving efficiency in your digital onboarding process.

Varying timeliness of the return of information

Even as more firms adopt digital onboarding technology into their process, they’re finding that the quality and timeliness of the return of information isn’t always as they initially expected. This can often be linked to the fragmentation of processes being managed from different systems, meaning clients complete and return information separately. It can also make visibility over progress difficult to manage.

This is especially true if only part of the process has been fully digitalised, such as ID checks, while other parts like TA forms are still emailed as a PDF that needs to be completed and returned separately. Lack of validations or relevant form logic can also impact the quality of information being returned in the property information forms, leading to delays.

Incompatible systems or lack of integration

We’ve seen a rise in integrations being adopted by law firms, mostly between their case management systems and other providers. But what happens when this isn’t possible? Integrations make the sharing of information between systems simpler and help to improve data integrity. The more systems you involve in the onboarding process, the higher the chance of incompatibility or lack of integration between some of them.

This can create inefficiencies related to rekeyed data, saving and uploading documents and results, or the duplication of processes – all of which opens up the risk of incorrect information creeping into a matter, not to mention slowing you down.

Overwhelm for clients

If clients receive links to multiple services for completing their ID checks, verifying financial information, receiving client care packs, and providing property and personal information, it can quickly overwhelm them.

Having to print some PDFs and return them, other times using an online ID verification process, and then emailing bank statements can quickly lead to missing or delayed information. People move home every 15-20 years according to data from Zoopla. This means the process the last time they completed it, and the next time, will be a vastly different experience.

Using a single solution can simplify their onboarding and help them navigate it as quickly and easily as possible.

Benefits of a single electronic client onboarding solution

Having all your onboarding tasks within a single platform streamlines the process, with a host of benefits that make digital onboarding easier and more enjoyable for you and your clients. eCOS is InfoTrack’s electronic client onboarding solution designed to make the whole process more convenient.

Faster onboarding

When you consolidate your onboarding tasks in one place, it's quicker to both prepare and send onboarding packs to new clients in minutes. The return of information is also faster, with InfoTrack clients saving an average of 12 days in the return of onboarding information.

There’s no need for multiple emails, attachments, or even logging into multiple providers, so you save time from the very beginning.

More convenient process

Firms are continually looking for ways to enhance productivity and free up fee earners to concentrate on other tasks. Bringing all the key onboarding tasks together makes for a far more efficient process for all parties.

With no need for clients to physically attend your office or post physical documents, they can instead complete all information within one convenient platform online. You can also track their progress and, if integrated, automatically file all responses and results directly to the matter in your CMS.

Better data integrity from the start

Ensuring you have accurate information about your client is why KYC is an essential part of the conveyancing process. Digital onboarding makes verifying ID and financial information easier, with confidence that world-leading technology is behind the checks.

Making use of the information you verify early in the process throughout the rest of your matter helps manage data integrity from the start, helping to better manage risk.

Improver usability

The LPM Frontiers report 2023 identified the top strategic objective for law firms this year was to improve the client experience. With digital onboarding, you can do that from the moment your client has instructed you. One clear dashboard that shows their progress, along with outstanding tasks, makes it easy to move through all required steps and indicates where missing information is required.

Better yet, both web and mobile accessibility give users the ability to complete the onboarding process from anywhere at any time.

Improve your digital client onboarding with eCOS

Better onboarding starts with eCOS. Consolidating the various parts of the onboarding process through a single user-friendly platform makes the entire process easier. Bringing together information gathering and forms, ID checks, verification of funds, and AML, eCOS makes it all possible in one convenient platform.

Find out how you can start onboarding the faster, more compliant way today. Book a call with one of our digital onboarding consultants to see how easy it is.