Title EDGESM Saves Title Industry Over $4.5 Million To Date
In Manual Labor & Surpasses 100K Orders Nationwide
NextAce’s automated title examination and report generation process
achieves momentous recognition & adoption Q1 2006
Anaheim Hills, Calif. – March 3, 2006 –Automated title software and application service provider, NextAceSM (www.nextace.com), announced today that since early 2005, the company’s Title EDGESM process has saved the title industry over $4.5 million by significantly reducing the manual hours required to produce a preliminary report or commitment. The company continues to chart quarter over quarter 33 percent growth, having just reached the 100,000 completed orders marker for its title insurance company customers in major U.S. metropolitan real estate markets. Since first launching Title EDGE with title company customers in California in 2003, NextAce is now producing orders in Arizona, California, Florida, New York, Texas, and Washington.
According to NextAce CEO Don Cantral, “Title companies are quickly seeing the value and cost savings Title EDGE brings to the marketplace and our order statistics affirm that customer approval and adoption are on the rise. As Title EDGE takes root in other markets across the country, we plan to continue our role as proactive partners who solve title industry issues by offering a range of complementary automated title products.”
The Title EDGE automation process delivers completed preliminary reports and commitments to the title company on average in less than 15 minutes, giving them the ability to deliver their product to their customer in as little as an hour, reducing a process that typically takes 48 hours to five days. NextAce charts the daily industry savings to date on its Web site, www.nextace.com, a figure that is based on an average savings produced from 1.5 hours of labor and overhead reductions associated with every order processed through Title EDGE.
Further validating NextAce’s growing import to the title industry and technology sector, the company and its Title EDGE automated title examination and report generation software application and service recently received finalist recognition in the Los Angeles-based Entretec award competition as well as from the Software & Information Industry Association as a Codie Award finalist.
NextAce is a privately held technology company that provides software and services primarily to the title insurance and mortgage lender industries. Its Title EDGE process was established in 2003 to assist title companies in streamlining the production of preliminary reports and commitments and is used by title companies servicing 38 California counties and counties in five other states, including: Arizona, Florida, New York, Texas, and Washington. Additional information on NextAce can be found at www.nextace.com.
©2006 NextAce. NextAce and Title EDGE are service marks of NextAce Corporation in the United States and other countries. All other brand and product names are trademarks or registered trademarks of their respective companies.
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