UK conveyancing services company, Hammonds Direct, has teamed up with its software supplier, Skywire Software, to develop an automated system for creating home information packs (HIPs) to offer a fast, and transparent service as a secondary revenue stream.
However, Tim Smith, technical architect at Hammonds Direct, said the service developed with Skywire Software, is expected to deliver a return on investment within two years to rival and even surpass the company's primary source of revenue.
In June 2007, the UK government introduced legislation requiring home sellers to supply a HIP for the sale of residential properties with three or more bedrooms.
Smith said Hammonds Direct had identified the introduction of HIPs as a business opportunity. The company approached Skywire, the supplier of its document management software, as a partner in the project.
"We chose Skywire because we wanted a system that would interface with our existing Documanage software, which our research showed was one the best available," said Smith.
The system will allow customers to access their HIPs online to view key documents and monitor progress to completion, he said.
The system was built on Skywire's Docuflex publishing, Transall data management, and Docupresentment software to automatically create, print, and publish online using information in the Hammonds Direct's existing Documanage database.
Smith said the system's high level of automation guaranteed a high level of quality and enabled the fastest possible compilation and printing of the HIPs at the lowest possible cost because of the low level of human intervention.