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Monte Jiran, former Chief Operating Officer of Equity Settlement Services talks about his experience with String.
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[Equity Settlement Services, is a leading vendor management company offering a full array of
residential and commercial title, closing, and appraisal services in over 30 states.]
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- How did you come across String?
I met String’s President Prashant Kothari and its SVP, Shrini Gopalan in TAVMA’s 2007 annual
conference and expo in Orlando, Florida.
- Why did you choose String as a vendor?
- Knowledge of the entire title/mortgage industry with significant experience in the Title arena
- All references urged us to use String’s services. I was impressed with String’s 100% client retention rate.
- String’s partnership approach in working with us. We didn’t feel like we were just giving work to a vendor, it always felt like a full partnership. The team had deep expertise and an unmatched understanding of the title business which allayed our many concerns about off shoring.
- How long have you been using String?
For about 2 years.
- What benefits have you been deriving from String?
- First, cost savings of 30%-40%. Our turntimes improved significantly which in-turn helped our clients.
- Also, there was a remarkable improvement in the quality of output which I would attribute to String’s Six Sigma methodologies.
- String’s pricing model – the flexibility helped us balance the peaks and valleys in volumes.
- Can you describe 5 qualities about String that you like?
- Partnership approach
- Consistent and excellent execution
- Knowledge and expertise
- Pro-active communication
- Strength of management
- What are your recommendations to firms that want to engage String?
- Speed matters in this business. Make a fast decision. I would recommend outsourcing 3-4 services to String simultaneously. String’s migration team is perhaps the best in the off-shoring world and hence the transition will be quick and smooth.
- Engage String’s consultancy team and unbundle as much of your processes as you can and integrate String’s back office in your workflow. My experience shows that improvement in efficiency and cost savings will become visible in 6-8 months from the time of initial engagement.
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