The implications of the pandemic have catapulted businesses into a speed of digital transformation that many had been resistant to for some time. A trend that saw the traditional law and deal making professionals scrambling to adapt to.
Throughout this, Legatics legal transaction management platform has proved itself as an essential technology in the legal tech shopping list. The legal tech company reports a staggering 200% increase in new matters opened on its platform as well as a 500%
increase in new customers in the April-September period, compared to the same time last year. “Legatics is increasingly being seen by firms as an essential technology, driven by a need for greater coordination amongst remote teams and a client demand to have a clear online view of their deal,” Legatics CEO, Anthony Seale.
Whilst some tech companies have noted a downward trend in new business as purse strings are tightened, others are seeing record-breaking numbers of new customers. The pandemic has enlightened, and indeed changed opinions about what is deemed an essential technology.
An essential technology is defined as tech that will ensure the continued smooth running of a business. And with Refinitiv reporting that the combined value of $5bn-plus deals worldwide soared to $456 in the three months to September it’s no wonder that Legatics’ transaction management platform saw such a significant spike in new customers, new users and new matters being opened.
“The continued buoyancy of legal technology and our business through the pandemic has been really encouraging to see,” explained Seale. “Not only are we able to welcome new clients, we’ve been able to continue hiring and growing the team, with around a 30% increase in staff since the pandemic began”.
We hope that other legaltech vendors also see the opportunity to adapt with their clients’ changing working behaviour.
Legatics is an online deal platform that improves the efficiency and client experience of legal transactions. It transforms traditional legal processes into simple and highly automated software that free lawyers of administrative tasks.
For more information, see www.legatics.com or email firstname.lastname@example.org