The recent announcement from the Law Society that it was winding up the much hyped Veyo ‘e-conveyancing platform’ was widely lambasted by the conveyancing profession after they had invested a reported £11m into the failed solution with little or no consultation from conveyancers.
The announcement in December came after months of silence from the Law Society and the swift departure of their management team back in July.
Redbrick Solutions say the announcement has led to a dramatic increase in new business orders for them, with four large firms signing up within days of the news in deals worth over £110k pa.
Martin MacDuff, managing director of Redbrick says “The premise of the Veyo offering showed promise at the outset and the concept of a chain view remains the holy grail for the sector, however, it soon became apparent that they had grossly underestimated the requirements of the conveyancing profession.
“Their marketing was too far ahead of the actual product development which only succeeded in causing disruption and confusion in the market.
‘Their announcement is good news for the industry because firms can now proceed with their preferred case management provider confident that they are making a sound decision to invest with firms who know the conveyancing industry, listen to their clients, and develop solutions that really make a difference to their business performance.
“Our clients report increased efficiencies and profitability of up to 40% with the use of our case management technology, so those firms that waited several months this year to proceed with us will undoubtedly have lost margin and competitive advantage as a result.
“It is good news for the industry as a whole, both conveyancers and software suppliers alike, that the distraction of Veyo has now been removed.”