Mitratech Accepts 3rd Consecutive “Overall LegalTech Company of the Year” Recognition by LegalTech Breakthrough
For the third year in a row, Mitratech has been recognized for excellence and innovation in the global legal industry – here’s why.
It’s a pivotal time to be in legal tech, and LegalTech Breakthrough is recognizing the standout companies, products, and services around the globe serving at the forefront of the industry. On November 16th, 2023, Mitratech was named the “Overall LegalTech Company of the Year” by the 4th annual LegalTech Breakthrough Awards program – for the third year in a row.
The announcement came on the heels of some significant new partnerships, product enhancements, and roadmap additions for Mitratech in 2023 — several of which helped distinguish the company from over 1,500 nominations in this year’s program.
A Year of Innovation and Investment: Which Enhancements Earned Mitratech the Title of 2023 “Overall Legal Tech Company?”
From strategic acquisitions to AI-driven product feature enhancements, Mitratech centers around delivering a superior customer experience. For corporate legal and claims clients, this has included multiple integrations and roadmap releases in 2023, including:
- An integration between Microsoft Teams and Mitratech’s workflow automation solution, TAP, which allows customers to elevate efficiency by eliminating the need to jump between email, TAP, and third-party platforms to initiate, check the status of, or take action on in-progress workflows.
- The release of TeamConnect 7.0, Mitratech’s flagship matter management and spend management technology, which now includes a machine learning bill review component, InvoiceIQ, within all deployments to save corporate legal teams time on reviewing line items with 98% data accuracy. The release also allows customers to integrate Managed Bill Review (MBR) with advanced spend analytics to leverage the industry’s most comprehensive suite of spend management capabilities.
- A new LegalHold module, deeply embedded in TeamConnect and offering new analytics dashboards along with a direct integration into MS Office 365.
- AdvanceLaw Digital, a self-service, data-driven marketplace purpose-built for outside counsel and powered by AdvanceLaw’s 10+ years of law firm performance data, detailed DEI and ESG characteristics, and more.
- PlatoBI, Mitratech’s most recent product unveiling, which is a business intelligence solution designed to enable inter- and cross-product analysis across Mitratech’s entire solutions portfolio and support a unified analytics repository.
To further meet the needs of corporate legal customers, Mitratech also partnered with Agiloft in 2023 to unlock a seamless exchange of data from related contracts, documents, iterations to legal invoices, litigation, intellectual property, tasks, and more. Mitratech customers can now streamline their contract workflows for cross-functional collaboration that integrates seamlessly with their current ELM solution offering.
Through organic investment in product innovation, strategic acquisition, and new partnerships, Mitratech’s mission remains a relentless pursuit of innovation and unparalleled value for clients.
This honor from LegalTech Breakthrough highlights our commitment to serve as a true partner in empowering cross-functional teams to automate manual processes and elevate business results in the legal realm.
But don’t just take our word for it:
“Mitratech’s solutions and services continually drive automation, efficiency, and improved collaboration across corporate legal, risk and compliance, and human resources. Due to strategic acquisitions and their continued growth, we’re pleased to name them ‘Overall LegalTech Company of the Year,’” said Bryan Vaughn, Managing Director of LegalTech Breakthrough Awards. “Economic realities are pushing legal teams to hit business targets amid tightening budgets and staffing challenges. By providing services and solutions, such as AI-driven product feature enhancements, Mitratech is delivering a superior customer experience for their corporate legal and claims clients.”
What lies ahead for legal in 2024?
As economic realities continue to push today’s legal teams to hit business targets amid tightening budgets and staffing challenges, the phrase “do more with less,” is used ad nauseam. But is the goal to actually do more work, or is it to achieve more with the strategic investment of time and resources?
Mitratech believes it’s the latter – a vision that has allowed us to stay one step ahead of our legal client’s evolving needs with innovative, agile solutions. Consider the following statistics:
- According to Gartner, 40% of legal departments will have implemented workflow technology by 2026
- 50% of Reuters surveyees identified conducting more efficient operations as a top priority in 2023.
- 26% of HBR surveyees used AI for at least one use case (up from 15% last year).
The future of legal is more streamlined, data-driven, and cross-collaborative – and Mitratech is the trusted partner in providing cloud-based, easy-to-use solutions for automating the complexity that exists in corporate legal and driving compliance.
“We’re thrilled to build off of last year’s momentum and accept the title of ‘Overall LegalTech Company’ for the third year in a row,” said Mike Williams, CEO at Mitratech. “This continued recognition by LegalTech Breakthrough reflects the trust and partnership we’ve built with our customers, the dedication of our internal teams to continue innovating, and the longevity we’ve established within the Mitratech ecosystem. We’re here for the long run — and we have big things planned for 2024.”
About the LegalTech Breakthrough Awards
Part of Tech Breakthrough, the LegalTech Breakthrough Awards program provides a forum for public recognition around the achievements of LegalTech companies and solutions in categories including Case Management, Client Relations, Data and Analytics, Documentation, Legal Education, Practice Management, eDiscovery and more.
The mission of the annual LegalTech Breakthrough Awards program is to conduct the industry’s most comprehensive analysis and evaluation of the top technology companies, solutions and products in the legal technology industry today. This year’s program attracted more than 1,500 nominations from over 12 different countries throughout the world.
For more information visit LegalTechBreakthrough.com.
To read the full announcement, please visit: Mitratech Awarded ‘Overall LegalTech Company of the Year’