information is power - tax liens
TRANSCRIPT
Information is PowerOptimize Your Tax Lien Fund Information
Information Overload 3 Themes Recur for Tax Lien Investors:
1. Overwhelming data to analyze and audit
2. Complex legal issues and state business rules
3. Labor-intensive tasks (e.g. legal docs, foreclosure)
Based on VADAR’s 20-year experience across 19 states servicing over $1 billion in tax liens
Overhead Costs The power of information diminishes from the
costs of paperwork, spreadsheets, and staff.• Data error – losses of $ and reputation• Duplication – costs and losses of repetition• Manual tasks – lack of automation costs man-hours• Storage – ad hoc data gets lost, stuck, or misplaced
10 Limitations of Spreadsheets vs. Systems
Human ErrorData entry mistakes are common and costly
Non-CompliantSystems meet deadlines and SoX compliance
Non-CollaborativeDifferent information from different sources
No Data RecoveryLost financial data when devices fail
Not ScalableOverhead costs rise disproportionately
Hard to TestSystems can be tested; spreadsheets cannot
Inflexible BusinessDependence on a few constricts flexibility
Non-ConsolidatedPeople use different data in different ways
Slow DecisionsFinancial decisions require instant info.
FraudSpreadsheets vulnerable from lack of controls
Information Actions These 5 Information Actions improve the power
of any tax lien investor’s information:1. Identify key stakeholders and unify their focus2. Record operational challenges to identify the
easiest and costliest to remedy3. Know your vital data elements, where they are
stored, and who controls them4. Reduce redundancy by improving communications
and interfaces between systems5. Find resources that can be leveraged for solutions
(e.g. IT staff, software vendor, law firm)
Measurable Results Clients who take these 5 information
actions yield these quantifiable results:
• Enhanced cash flow
• Higher portfolio returns
• Increased revenue recovery
• Lower overhead costs of audits, information, and operations staff
Learn More
LienApp.com
877.823.2700