The Covid-19 Pandemic has been raging for 18 months now and while vaccination rollouts are bringing some semblance of normality back, it is clear that people are turning to online solutions in ever increasing numbers.
J.P Morgan and other analyst firms have published studies which show that amongst other activities, people are increasingly shopping, seeking counselling, consuming news and even taking advantage of alternative dispute resolution services on digital platforms.
This trend is irreversible. That same research shows that the adoption rate of digital technology to replace traditional technology is set to grow dramatically in the next decade.
Why are people turning to online dispute resolution services?
Often, we cannot see the wood for the trees. We sit with the familiar, because familiar is the way of doing things, even if there are far more efficient and easier ways of getting a positive result.
Think of that old pair of sneakers that you wear. They are fairly worn, no longer comfortable, not helping your best lap times and causing you pain and discomfort.
As soon as you buy the new pair of sneakers, with an upfront price online, you get back to comfort, better running performance and better health and posture.
This is exactly what is happening with businesses turning away from the Civil Courts to recover debt.
Businesses are recognizing that the court system is slowing them down, costing them a lot of money and in certain cases, the long-drawn out process can be detrimental to their health.
Once they realize that Online Dispute Resolution is a real and viable alternative to recover debt, they wonder why they didn’t turn to it sooner.
The COVID 19 Pandemic has accelerated this process and it has also highlighted the need for arbitration clauses to be included in any lending contracts.
People simply do not want to go to court to litigate over a commercial debt, not just because of the time and money involved, but because of the real and present danger of contracting Covid in a small enclosed courtroom.
Add to that a creaking and groaning legal system infrastructure which has practically ground to a halt with a huge backlog of cases, and it becomes clear why people are turning to ODR services.
Online dispute resolution is affordable and allows businesses to recover debts due to them with minimum fuss and within a short time frame.
Not only do businesses avoid the need to go to court, they also get a better deal and a much swifter resolution.
What is Online Dispute Resolution and how is it different from court?
Online dispute resolution is a legally binding form of alternative dispute resolution (ADR) process that takes place entirely on a digital platform.
In reality, ODR is not that different to a law court in terms of an enforceable outcome.
But when it comes to cost, time and ease of resolution, online dispute resolution beats the traditional system hands down, each and every time.
You may be asking, how? The number one advantage of Ejudicate’s online dispute resolution platform is that it is totally online and can be accessed from anywhere at any time.
As soon as you file your claim and upload your supporting evidence, you are given a flat, up front fee before you proceed further.
Fees are affordable and are typically calculated on the complexity of the case or the amount in dispute. Cases differ on individual merits, but you can expect your claim to be resolved up to 80 percent faster than in the courts with costs being typically 70 percent less or more.
The Justice System has also woken up to the fact that people do not have to be physically present in a court of law to resolve disputes.
All US states have now recognised that ODR can effectively clear the backlog of cases and take them off the plate of district and local civil law courts.
Will ODR grow in a post-Covid World?
Covid itself taught us that we can never take anything for granted. But, given the many advantages of ODR platforms such as Ejudicate and the increasing number of people that are seeking a different way to settle disputes and recover debt, ODR will go from strength to strength.
One of the major concerns when submitting data online is compromised data.
Ejudicate has a robust and secure gateway which ensures that the data related to your claim is totally secure and the dispute is confidential.
When you factor in the cost effectiveness, security, ease of access and swift resolution times, it is clear that online dispute resolution will continue to gain traction and become a widely accepted and utilized solution for debt recovery.
Statistics show that in 2020, the large-scale adoption rate for Software as a Service stood at 31 percent worldwide, and this is expected to grow exponentially in 2021.
How can my business benefit from Online Dispute Resolution services
If your business is owed money, Ejudicate’s platform is exactly what you are looking for. Claims are typically resolved 80 percent faster and 70 percent cheaper than by going through the law courts.
Ejudicate has helped businesses recover debts that were simply not worth chasing up because of the time, effort and costs involved.
Why leave money on the table when it is owed to you? Our satisfied clients include ecommerce sites, factors, banks, MCAs and other lenders.
We also offer online dispute resolution services for quiet title, warranty claims, other types of monetary disputes and other declaratory relief actions.
Ejudicate has a screened network of Ejudges spanning across all 50 states. The number of states and cities which are embracing ODR solutions is continuously growing. Each case Ejudicate receives is assigned to an Ejudge to match jurisdiction and subject matter expertise.
How does the Ejudicate process work?
The Ejudicate process involves six easy steps from filing a claim to receiving an Award that can be turned into an enforceable judgment.
1. File claims online
2. Defendant is served claim by email
3. Litigants counter
4. Ejudge is assigned
5. Ejudge reviews evidence
6. Award issued
You can request a demo from our homepage or call one of our arbitration consultants today on tel: +12134443794. Alternatively, drop us an email at [email protected] to book an obligation-free consultation.
Ejudicate is a market-leading online arbitration platform in the United States. Our 100 percent online alternative dispute resolution platform helps businesses protect their contracts and agreements through online arbitration. Follow us on LinkedIn or Facebook for updates and news about online arbitration and more.
*Ejudicate cannot and will not give legal advice on any matters, financial or not.