Profit-Making Tax Lien Technology
Tax Lien Investors face increasing competition and shrinking returns. Savvy competitors utilize technology to increase the efficiency of their thousands of transactions, translating to greater margins on every invested dollar. Technologies include software and online systems that reduce errors, reduce data entry, and automate costly back office transactions.
Click here to open the Tax Lien Technology presentation given at the Tax Lien Talk Annual Conference 2016 held in Nashville, TN.
The Forbes Insights report 'Seeing Beyond: Unlocking the Long-Term Opportunities in Wealth and Asset Management' dated October 2015 revealed strong consensus from over 400 executive wealth and asset managers:
83% agree or strongly agree they face significant competitive pressure
49% say they believe their segment is undergoing significant change
56% are in hot pursuit of greater operating efficiency and cost reductions with technology
VADAR clients utilize our industry-leading software and systems to drive down operating costs, boost operating efficiency, and realize greater profits and returns. The VADAR tax lien servicing system LienApp delivers more than operating efficiency for tax lien investors: it also uses automation and algorithms to improve report accuracy, reduce data entry costs, and mitigate risks of data loss or security breach.
"Once you buy your first tax lien, you enter the servicing business." As an alternative investment class, tax liens are particularly cumbersome to comply with a myriad of statutes while administering volumes of paperwork and processing thousands of transactions. This costly, error-prone tax lien servicing is composed of Portfolio Management, Collections and Payments, and Analysis and Reports. When portfolios grow beyond 100 tax liens manageable by spreadsheets, investors face 3 tax lien servicing options:
Outsource Tax Lien Servicing
Build Servicing Systems
Buy Servicing Systems
Outsourcing the back office transactions to their parties allowes investors to focus on investments rather than operations, and often provide peace of mind, but 3rd party servicing comes at a price. Typically a $1 million revolving portfolio costs $85,000 annually to outsource servicing.
Many investors are tempted to build servicing systems to manage their operations in house, but mistakenly believe such systems must be custom designed and built. Consequently, the average busines owner spends 180% more than budgeted for a design that is a mere 33% of scope ... and 200% later than scheduled. (Bloomberg Software Research Group, 2014)
VADAR offers tax lien investors the #1 cloud-based enterprise system LienApp for managing portfolios in house for the lowers cost and maximum profitability. LienApp benefits from 20 years of tax lien industry experience and 5 years of professional IT development. Standardizing 1 platform across thousands of municipal statutes, LienApp optimizes tax lien servicing without the need to hire experienced IT or tax lien professionals. Consider the many benefits and features LienApp offers at a fraction of the cost to outsource your tax lien servicing:
1-Click Reports
IRR Time Machine™
Automated Noticing
Big Data Intelligence
Purchasing, Payments, and Collections
To learn more about how LienApp streamlines your servicing costs and empowers you with greater returns on every invested dollar, contact us for a free consultation and demonstration today.