Ins and Outs of ALTA’s Best Practices Maturity Model

 

By Cynthia Blair and Lori Dorman

Reaching and documenting full compliance with ALTA’s Best Practices can be a struggle for small and large business owners alike. Completing an assessment and noting all the areas where improvement is needed to be fully compliant can be daunting.

Following an assessment, do you know what steps your company can take to improve its practices? If not, the newest tool in the ALTA’s Best Practices toolbox—the Best Practices Maturity Model—can help! The Maturity Model measures your company’s procedures against the Best Practices to help you determine your compliance. Instead of a strict “pass/fail” system, the Maturity Model provides a spectrum of compliance levels that allow you to assess the strength of your company’s procedures and help you determine whether you follow your procedures consistently. We’ll describe the different levels of compliance in the Maturity Model and how you can create a plan to reach “Optimization.”

The Maturity Model is a great tool to help businesses analyze their level of compliance with the various pillars, track incremental progress and easily identify areas of concern. The Maturity Model is another tool for businesses to achieve full compliance with the Best Practices. Attend this session to learn all you need to know to use this tool for your business!

Cynthia Blair NTP is a founding member of the law firm Blair Cato Pickren Casterline LLC. She can be reached at cynthia@blaircato.com. Lori Dorman is director of Risk Management at Agents National Title Insurance Company. She can be reached at ldorman@agentstitle.com. Blair and Dorman will speak more in depth about this topic during a session titled "The Ins and Outs of ALTA’s Best Practices Maturity Model" during ALTA's Annual Convention. Click here to register.