Information services company SAI Global is positioning itself to do business in the Pexa world, with the launch of a new conveyancing management service called Settlement Room.Pexa, which is an electronic conveyancing exchange that has been in development over the past couple of years, will automate some of the mortgage processing and settlement functions currently carried out by groups like SAI Global.The company offers an information brokerage service to conveyancers and banks, together with outsourced mortgage services workflow solutions for financial institutions.Settlement Room has been designed to simplify the settlement booking process, while at the same time preparing conveyancing practitioners for integration with Pexa,SAI Global is a Pexa sponsor, which means it will operate as a "portal" for the Pexa system.SAI Global's program director of electronic settlements, Amanda Baker, said the introduction of electronic conveyancing was a challenge for mortgage processing and conveyancing management businesses, but also an opportunity.In SAI Global's case, a lot of its business is with banks, assisting them with the settlement part of the process. Physical settlement will be phased out when Pexa is fully operational.Baker said SAI Global was aiming to broaden its customer base and sell a wider range of services.Settlement Room has been designed for use in both the physical and the new online settlement worlds. Part of its purpose is to reduce settlement failure by providing all parties in the settlement process with "a clear line of sight into each other's matters".Baker said: "By providing all parties with a virtual meeting workspace, where they can upload documents and verify information about the property, we can resolve many of the issues that cause settlements to fail."Settlement Room mirrors some of the functions of Pexa, such as allowing parties to book settlements online, "providing all participants with real time visibility of the status of a booking.""It will help prepare conveyancers for the transition to Pexa," Baker said."We have had 300 expressions of interest in using us as a sponsor since Pexa announced that we were part of the system," she said."A lot of our business is focused on banks and processing their work. We are changing our business to provide more services to conveyancers and solicitors. That is where the growth will come from."