InfoTrack on track for further growth
Those who have bought a property, or are in the process of doing so, are likely to be familiar with the arduous journey in having names placed on deeds.
Think of the conveyancer though, who has multiple challenges to overcome and many people to deal with. For the buyer and seller there can be pain and delay, but for the legal professionals there’s also risk – the risk of making a costly mistake.
And it’s here where InfoTrack have made their home – as best in class conveyancing technology providers. Since establishing in London in 2015, InfoTrack have grown from 10 staff members to 300; a testimony not only to the excellence of their innovative software, but just how much they are needed.
The UK CEO is expat Aussie, Scott Bozinis, who said: “I think we’ve done the right thing as a business since arriving. We did in Australia loosely what we do here and what we learnt there was relevant here. We then adapted our business to the UK market and our subsequent success is down to solving a problem, rather than any great marketing.
“We do just one thing and that’s helping conveyancers. We could easily do and be tempted by other areas of law but we focus on one thing only and we do it really well.”
Economic stimulation
The company’s success is reflected in picking up a King’s Award for Enterprise in the innovation category. InfoTrack has digitised the entire conveyancing journey on one platform, from client onboarding and property searches to stamp duty land tax, and e-signature services. In so doing, the process is speeded up, the heavy paper lifting is reduced and risk is minimised.
The UK’s residential property market alone is worth more than an estimated £285 billion and, argues Scott, is very important to the economy: “It’s the largest asset class in the UK. Every time a property changes hands, tax is paid, new paint, new carpets and so on are bought and so it’s a very broad economic stimulator, yet it’s locked up, it doesn’t flow.
“We know that many say that they’d love to buy a new house if it weren’t so painful. So we have introduced tech to streamline a process for a very traditional paper-based industry and, alongside others, we are helping to free up the property market for the country’s benefit.”
It’s a bold statement but supported by statistics. In the last month almost half of the UK’s estimated 4,500 conveyancing law firms have used InfoTrack’s services; that translates to around 25,000 different legal professionals having logged on to their platform.
Facilitating a culture change
The key benefit for them is that InfoTrack’s unique software promises and delivers greater accuracy and efficiency. According to Scott, InfoTrack’s clients merit recognition for embracing this change and, in turn, boosting further the tech company’s burgeoning credentials.
“Changing the way things have always been done is hard and it’s very much the case in the legal sector”, he said. “Full credit, therefore, to our clients because they embarked on a process of replacing traditional methods with technology and from the outset that hasn’t been easy. They have transformed their ways of working and the rewards are now evident.”
As a result, InfoTrack have picked up a raft of industry awards in the UK – six in 2023, including the conveyancing Industry Champion gong for Scott, and so far in 2024, Legal Supplier of the Year. The King’s Award means even more.
Scott said: “There are so many different kinds of awards to enter, but this sits above them all, because it’s not tied to any industry or sector and is independent. It has the prestige of the Royal stamp and even though we have been given it for our UK work, it will resonate in our other territories.
“When you start a business from scratch you only have an idea. I hired 10 people, without any clients or any software, and told them about that idea. There’s a lot of people who’ve been here for the entire journey and this award means the world to them. Different brains have come together to solve problems and we’ve created a passionate team.
“For this award you have to support your story and concepts with genuine business growth. What we were building and pitching is what the market wanted and was ready for and we have done it rapidly.”
When a great team has a great product and willing clients, there’s more growth and success to be had and InfoTrack is firmly on course to bring it home.