What transactional billing is
Fundamentally transactional billing means that one is charged only for each transaction performed. This means that whether or not users use the software they no longer pay a fixed monthly rental.
Transactional billings' benefits
The advantages and benefits to conveyancing professionals are as follows:
- Transaction charges can be disbursed to the end-client, so the use of the software is effectively free of charge for attorneys.
- Firms may add a small administrative fee for this service, thereby increasing their recovery from clients.
- Billing covers the use of all GhostConvey applications at no additional charge. So users enjoy the benefits of having an electronic diary/process management system in addition to the generation of accurate conveyancing documents.
- It applies to any number of workstations, including those of temporary staff, junior conveyancing secretaries, etc.
- The firm pays only for transactions completed, so idle workstations no longer constitute a costly overhead.
- Overall, it's more equitable and transparent for all concerned.
- Most importantly, small conveyancers who previously could not afford the software because they did few property transfers and bond applications, now have this avenue open to them.
How does transactional billing differ from the monthly rental option?
Radically, for conveyancers. First, conveyancers do not pay for the software but their clients, who do, enjoy its direct benefits and greater savings.
Secondly, whereas with monthly rentals firms pay for the use of the software per workstation in advance, with transactional billing users are billed only for Bonds and Transfers actually captured during the past month. This is in line with other "system" disbursements such as bank electronic instruction charges, and the charge levied by the Deeds Office for a title deed copy.
See Editing the transactional billing support fee in GhostConvey