Olivia is purchasing a property from Peter, and they have agreed on the terms and signed the contract. Both parties have hired their respective conveyancers to facilitate the transaction. Olivia's conveyancer, NBI Conveyancing, is responsible for managing the transaction settlement and client management throughout the process.

In this scenario, describe the practice, policies, and procedures in relation to transaction settlement and client management. Use the example of Olivia and Peter to demonstrate how these aspects impact the outcome of a conveyancing transaction.