HOUSTON – October 13, 2020 – A COVID-19 Survey of Chapter 7 bankruptcy trustees has revealed valuable insights and trends that will greatly affect the industry in the coming months and years.
The survey results shed light on trustees’ current and future work situations. Key insights include:
- 64% have left their offices and are currently working from home (with more than half indicating their office return date is still undetermined)
- 37% are busier now than before COVID-19
- 84% expect to be busier after COVID-19 subsides
A total of 81 customers of TrusteSolutions, a technology leader providing web-based case management solutions to Chapter 7 bankruptcy trustees, responded to the survey. It gathered information on trustees’ current work expectations since the onset of COVID-19; expectations on when work scenarios will change; the transition to working remotely; key challenges faced during the pandemic; and how TrusteSolutions has assisted its customers during this time.
“The feedback from our customers is both relevant and important to the industry as a whole,” said Kristi Singal, CEO of TrusteSolutions. “Knowing that nearly 40% of respondents’ workload has increased since March, and that it’s only expected to rise once the pandemic subsides, reveals that TrusteSolutions should poise for an uptick in customer requests for services from our software and hardware support staff.”
Respondents also gave the software company a 97% approval rating when it came to making their transition to working from home easier, rating the software’s cloud base as the most helpful feature.
“On top of the valuable industry insights, it’s also encouraging to hear that TrusteSolutions has helped trustees and administrators immensely during this unprecedented time,” Signal said.
To access the complete survey results, click here.
About TrusteSolutions and FSS
TrusteSolutions is a division of Financial Software Solutions, LLC, a Houston-based software company that provides cloud-based enterprise software and a suite of web-based apps to attorneys and professionals across the United States. Additional divisions include BlueStylus, an online office management tool for time and billing and document management as well as CORE, a web-based, turn-key case management system designed to keep the receivership process well organized so receivers can experience greater efficiency while managing large caseloads and adhering to stringent court demands. FSS is dedicated to providing enterprise-level software that is easy to learn and easy to use, helping businesses do more with fewer resources for enhanced productivity and mobility. To learn more, visit www.trustesolutions.com.
Contact
Kristi Singal
866.878.7831
ksingal@trustesolutions.com
