TOTAL Store Spotlight: ANOW — Why automation is an appraiser’s best friend
Written by Renee Wilson on April 4, 2017
Why it's important for appraisers to automate
Research shows that about 70% of small to medium sized businesses are still processing most of their data manually, resulting in hours of wasted time that's better invested in activities like growing their business. So how do you know if you’re part of that 70% wasting precious time doing manual tasks that can and should be automated?
Here's some signs to know that it's time to automate your business as well as some tips on how to do it:
Manually entering appraisal addresses into your accounting program is not only significantly time-consuming but can be highly prone to errors. It also creates friction with your appraisers in the field, as they usually have to spend time trying to find their next appointment. If you're still doing this, stop. There's a better way.
With the rise of cloud software like ANOW, all of the physical address information needed to run your business can be seamlessly captured as you schedule the appraisal. When you accept an appraisal order from a Mortgage Broker or AMC, you have the opportunity to capture the address details once it's matched to an online service that uses verified data.
Research from RBS Invoice Finance shows that small to medium businesses spend on average 130 hours every year chasing payments. On average, small businesses wait 30 days longer than their agreed payment terms. Not only is that time business owners could be spending growing their business, but it's also a significant contributing factor to the cash flow problems plaguing business owners.
To rectify this, appraisers can use the built-in invoicing of programs like ANOW that send invoices with a credit card link – bypassing the lengthy process of waiting for a paper check. With no extra work, you get robust account receivable reports and an easy way to export CSV files or Excel sheets to your accountant. Better still, if you're lucky enough to have a staff admin, they can keep you accounts receivables updated so that your business reports remain current daily.
As appraisers, we live in our report writer, after all, the appraisal report is the culmination of our professional efforts. Nevertheless, appraisers use multiple services, information sources, or processes to complete a report. Do you find yourself frustrated replicating the same information over and over again between the essential tools needed in your business? If so, it's a problem you need to solve.
With ANOW, the entire import/export process is automated. And you can share key appraisal data with no extra data input effort. You'll save time by capturing, sharing, and exporting data all at once. The ANOW app in the TOTAL Store is the easiest way to copy data between the industry's best appraisal report writer and the industry's best appraisal management software.
If any of these points sound familiar, it’s time to automate your business and get ahead of the competition. Aside from the significant time savings, automating your business in the ways described above can also help you maintain better appraisal records, get paid faster, and builder deeper, more profitable relationships with your customers.