Legal professionals understand how post-closing follow-up can create bottlenecks, uncertainty and risk, which is why Teranet introduced Teranet Undertakings – an automated solution designed to bring efficiency to your undertaking workflows.
Why undertaking management needs a transformation
Mortgage discharge undertakings are critical to legal obligation and efficient management. Traditional methods include manual tracking, repeated phone calls, etc. These manual methods demand significant staff time, run the risk of human error, and can increase friction points that impact the efficiency of the undertaking process.
To offer legal professionals a system that proactively manages undertakings from start to finish, Teranet Undertakings supports compliance and integrates seamlessly into workflows.
What Teranet Undertakings delivers
This automated platform manages all mortgage discharge undertakings seamlessly, while also offering some key additional features to further enhance efficiency in the process:
- Automated PIN Monitoring: Submit the PINs associated with your undertaking and track any discharge activity and receive updates on statuses in real time.
- Proactive Notifications: Receive immediate system-generated alerts and Notices of Fulfillment once a discharge is registered, reducing delay and ambiguity.
- Lender Reminders: The system automatically sends scheduled reminders to lenders with outstanding obligations, eliminating manual follow-ups, and improving responsiveness.
- Centralized dashboard: All undertakings can be viewed and managed in a dashboard, giving the teams a complete picture of the active, fulfilled and pending undertakings.
- Customized and Branded Alerts: Notifications are pre-populated with the details and operational firm branding for a polished and professional client experience.
““The Teranet Undertakings Solution has a tremendous improvement in how law offices obtain and discharge particulars and follow up on outstanding undertakings. This platform streamlines the entire undertakings process in a way that has saved me a great deal of time. I’m spending far less time preparing letters and calling lenders, which allows me to focus on more pressing clients matters.”
Senior Law Clerk, 20+ years' experience, high-volume GTA firm
Backed by decades of trusted experience supporting Ontario’s real estate professionals, Teranet’s Undertakings offers a solution for solving persistent pain-points, with a modern and secure technology that improves the workflows of legal professionals.
With help from Teranet Undertakings, legal professionals can expect the following:
Reduce administrative overhead: No more manual tracking or repetitive correspondence. Lawyers and staff can reallocate valuable time to high-value legal tasks rather than chasing undertakings.
Enhance compliance and risk management: With records of reminders, communications, status updates, fulfillment dates and more, your firm can demonstrate compliance with professional obligations and easily produce documentation for internal reviews or regulatory requirements.
Ready to transform how your firm manages undertakings?
Explore Teranet Undertakings and discover how this solution can enhance your business processes. Get a 1:1 customized demo today to learn how this new solution can benefit your business – book a demo to get started.
