Continuing its pioneering approach to ‘open innovation’, Australia’s leading independent law firm Corrs Chambers Westgarth, has announced the adoption of the latest digital conveyancing technology by the firm’s market-leading property practice.
Corrs is adding InfoTrack PlanIT to the firm’s suite of secure cloud-based solutions, following extensive collaboration with developers InfoTrack. PlanIT is a streamlined platform that allows for the management of document production, distribution, execution, reporting and settlement for off-the-plan apartment and master-planned communities. It has the potential to deliver time and cost savings to the firm’s clients, while also enabling Corrs to send contracts anywhere in Australia and overseas within minutes.
Conveyancing transactions have previously been largely paper based but the industry is now seeing a shift to electronic conveyancing. This includes electronic document exchange and properties settled electronically through PEXA (Property Exchange Australia) – an online settlement program, progressively being adopted by the industry.
“We wanted to make sure that we had the right software before moving to a complete eConveyancing platform, not just a digital exchange platform. After conducting extensive market research, including an analysis on whether to further develop in-house conveyancing software, we determined that the PlanIT solution was the best fit for our clients, the firm and our property team,” said Corrs Partner Peter Calov.
According to Mr Calov: “Initially the platform will be used by our national off-the-plan Developer Sales Group where Corrs is a market leader, acting on some of Australia’s most iconic, landmark projects.
“It integrates with PEXA, allowing our team to transact with that platform without the need to enter data twice. Clients will also have the added benefit of being able to log in via a client portal and view up-to-date sales information,” he said.
Corrs and InfoTrack have been in discussions for some months, with Corrs ensuring that InfoTrack’s cloud platform met the Corrs Cloud Security Framework. Already an existing client of InfoTrack, Corrs will be an early adopter of the platform for all its national conveyancing and large-scale property transactions.
“We are delighted to have been able to work with Corrs to ensure PlanIT is the right solution for their market-leading property team and its clients,” said InfoTrack Chief Executive John Ahern. “PlanIT is a cutting edge e-conveyancing solution that delivers a multitude of efficiencies, while ensuring contracts are more accurate and all documents can be sourced - in the correct order - with a click of the mouse.”
The Corrs Developer Sales Group manages several thousand property transactions each year for many of Australia’s largest property developers. In time, as electronic contracts and PEXA electronic settlements become more widely accepted, Corrs intend to adopt this InfoTrack platform across its wider national property practice.
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