Speaking at its seminar on enabling dynamic business, Pisces director-general, Roger de Boehmler, talked about the need for connecting systems in order to share information.
The process currently works with each system in isolation with no direct connections and an expensive cost of transferring data. Pisces confirmed it was to offer a framework for valuers that would include auto exchange that allowed valuers and others involved in the process to cut costs by around 30 per cent, build connections and compete better in the market.
De Boehmler said: “This is a connecting standard for all businesses to operate more efficiently in the future in a process that will take no time at all.
“We see our standards offering a real connected process and it will now be a much easier process to buy and sell your home. Our mission is to offer products on a capable platform and we’re there to help with the initiative.”
Phillip Walker, head of fund valuations at Knight Frank, said: “One of the problems as a valuer is the information flow between the last quarter and the present, and the need to know what has changed is key to the deal. The mission is to define a standard that enables the exchange of valuation data, efficiently and cost-effectively.”
Alan Dring, sales director at eConveyancer, said: “What it is offering is a common platform programme and this will allow users to embrace conveyancing for makes their business tick. The industry will benefit from such a system but I don’t know for how long.”
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