Integrating modern technology into daily operations can sometimes feel daunting for small business owners. However, recent developments can simplify these complexities, particularly within the real estate sector. SoftPro, a leading provider of title and closing software, has announced a new integration with the Deluxe Payment Exchange eCheck solution, bringing innovative payment capabilities directly to users.
SoftPro Select users, which includes many small businesses in the closing and title production field, now have the ability to send escrow payments electronically. This new feature does not just streamline payment processing; it transforms it by enabling businesses to eliminate the need for paper checks altogether. With eChecks, transactions become faster, more secure, and more environmentally friendly.
Patrick Hempen, Chief Customer Officer at SoftPro, expressed enthusiasm about the new feature, stating, “SoftPro is particularly pleased to offer this new, secure payment integration with Deluxe to our customers, providing even more flexibility and convenience in the disbursement of settlement funds.” This sentiment echoes a growing trend amongst small businesses to prioritize efficient and accurate payment methods, particularly in high-stakes placements like real estate closings.
The logistical shift from paper checks to eChecks presents numerous benefits. Not only do eChecks eliminate overnight shipping costs, but they also significantly reduce escheatment issues associated with uncashed checks. For busy businesses, this means less time spent tracking payments and more time focused on core operations. The integration even allows for the Print+Mail service, where Deluxe will print and send checks on behalf of the user. By mailing checks through USPS First Class mail, businesses can save time and ensure secure delivery.
Deluxe’s initiative aims to modify payment processing within the real estate space, which has historically been mired in outdated systems. John Rubinetti, President of B2B Payments at Deluxe, noted, “Integrating Deluxe Payment Exchange into SoftPro, who is a leading title production management software provider, is a significant step toward our goal of transforming payment processing in the real estate industry.” This transformation can have substantial implications for small business owners, particularly those striving to keep pace in a rapidly digitizing world.
The technology behind eChecks is both secure and user-friendly. A secure digital representation of the check is stored on a Deluxe server, which can be emailed directly to the payee. The recipient receives a notification with a secure link to download and print the check. This process allows businesses to conduct transactions much like traditional checks, while simultaneously minimizing risks associated with check fraud.
The integration’s impact is already being felt at Near North Title Group, which operates over 60 offices nationwide. Voula Giafis, Escrow President at Near North Title Group, shared insights about their experience: “We have been using Deluxe e-checks to deliver checks to our customers for the past 2 years. The API integration with Deluxe and SoftPro has provided us with additional efficiencies, security, and accuracy within the product.” Their commitment to efficient and secure transactions aligns with broader objectives that many small businesses share.
Yet, as with any new system, there are potential challenges for small business owners considering this transition. First among these is the learning curve associated with adopting new technology. Training staff to utilize eChecks effectively may require time and resources, which could be in short supply for smaller operations. Additionally, while integrating this solution may lead to reduced overhead in check management, there may be initial costs associated with implementing the technology and ensuring compatibility with existing systems.
In this fast-evolving landscape, small businesses must stay informed and adaptable. The integration of Deluxe Payment Exchange with SoftPro Select offers a promising avenue for those in the real estate sector to improve their operational efficiency significantly. As more enterprises seek seamless and modern payment solutions, the early adopters will likely pave the way for widespread acceptance.
For more detailed information about the integration and the technologies involved, please visit the original press release at Deluxe’s website.
