RESWARE CASE STUDY: LINEARView as PDF
"Our growth and expansion would not have been possible without ResWare. As we have grown, we continually push this software to great lengths. It easily scales to the size of our company and is able to accommodate complicated integrations with our clients."
-Nick Liuzza, President and CEO
About Linear Title and ClosingLinear Title & Closing, Ltd was founded in 2005 by President and CEO, Nick Liuzza. Linear began as a regional title company based in Newport RI. In six years Linear has grown to over 200 employees worldwide with a national footprint.
Linear offers a wide array of services including closing, REO, title insurance and settlement services. The company prides itself in having the power to "pursue more loans and close faster." Liuzza and his team attribute a significant part of their ability to perform and excel in the industry to the flexibility, scalability and efficiency that it achieves using ResWare.
Fast Growth, Increasing NeedAs a rapidly growing title and closing company, Linear needed a product that could expand with it and didn't require a great deal of time devoted to training and integration. The company was growing and moving fast, so its software had to scale as well. Linear is a technically savvy company, so inflexible software that didn't offer integrations, regular upgrades and that couldn't keep up with the demands of clients was not an option.
Liuzza and CTO Jessica Digilio understood early on that to succeed he would need the right tools to achieve rapid growth. The company tried several products which were found to be archaic and slow. Liuzza and his team needed a system that housed the ability to scale and was easy to customize to their business model; one that could be customized around each new client and the client's process.
After a thorough review, they finally found what they needed in ResWare.
"Our growth and expansion would not have been possible without ResWare," said Liuzza. "As we have grown, we continually push this software to great lengths. It easily scales to the size of our company and is able to accommodate complicated integrations with our clients."
Unable to Find the Limits of ResWareWhen Linear first began using ResWare, the company was told that it would have a difficult time finding the limits of ResWare and would have the power of customization always in its control.
"When we need to implement a new request for a client or create a solution to an internal challenge, the tools within ResWare provide us with the ability to create a scalable process. Using technology to eliminate redundant, manual steps and reduce labor costs through increased automation allows Linear to stay a step ahead," said Jessica Digilio, CTO of Linear Title & Closing, Ltd.
Last year, after working with ResWare for two years, the company took the software and the claim that finding the limits would be difficult and began exploring and expanding within the capabilities of the software. To date, Linear still hasn't been able to reach the bottom of ResWare's efficiency, scalability and customizability.
More Customizable Than an In-House System
Because of the customizability with ResWare, Linear was able to create a groundbreaking innovation called "Change of Circumstance." This allows a lender to make a change to a file and have it automatically change throughout the system. The result is automatically updated fees and automated notifications with documentation to every partner involved with the file.
Before the innovation of "Change of Circumstance," agents would have to make a change on a document and either email or call several different people in order to ensure that the change had been made on all fronts. This would take anywhere from 24 hours to as much as 3 to 4 days, and there was always the risk of missing the change in one of the many places it needed to be updated. With "Change of Circumstance" this process is automatic, takes only about 20 seconds, and makes sure every instance is accurately updated.
In addition to "Change of Circumstance," Linear utilizes ResWare integrations. One example is "Notes and Documents," which ensures that notes and documents are seamlessly and automatically transmitted between parties, and enables tasks to be automatically started based on documents received. This is all automated, requiring no human intervention, which frees up even more time for employees to concentrate on their primary job functions.
"Being able to utilize integrations where one action automatically triggers the next action is key. This significantly reduces our labor costs," said Liuzza. "These efficiencies are global and span our client base. With ResWare, we have the ability implement workflow specifically to our clients' needs."
Achieving Monetary Results with ResWareAny IT purchase should save time or reduce costs -- ideally a good purchase will achieve both. The bottom-line goal for Linear when choosing ResWare was to close more files without adding headcount. After three years with ResWare, they are able to show the following specific results:
- - Linear's cost per file decreased by 83 percent.
- - Linear can effectively and efficiently close 5,000 to 8,000 files in one month with only 200 employees.
- - Prior to ResWare, busy departments within Linear needed to stay in the office working until midnight to finish tasks. After ResWare was in place, for only 60 days, the same number of employees closing the same number of files were finished by 5 p.m.
"From the beginning, we didn't want to be a traditional title processor, but a business process unit," said Todd E.A. Costa, Chief Financial Officer of Linear. "We wanted to drive business and increase efficiency. ResWare gives us the ability to grow at an astronomical rate and record positive financial results."