Why IDC MarketScape Names Mitratech as a Leader for Enterprise Matter and Legal Spend Management
It was announced this week that Mitratech has been named a “Leader” in two IDC MarketScape reports – IDC MarketScape: Worldwide Enterprise Matter Management 2020 Vendor Assessment (doc #US45943820, July 2020) and IDC MarketScape: Worldwide Enterprise Legal Spend Management 2020 Vendor Assessment (doc #US45943920, July 2020).
Take it from us: it’s a great feeling to be named a Leader.
For us, it’s the outcome of a lot of hard work, innovation, and client collaboration in a sector that’s been evolving at amazing speed. So we’re honored to be included in the Leaders Category of these two IDC MarketScape reports. You can see more details about them in our press release.
Another reason we appreciate these recognitions? Because having analysts like IDC involved in reviewing a technology category is a Very Good Thing for the entire Legal Operations ecosystem. But we’ll get into that a bit further down.
“Well-positioned” in enterprise legal management
In the IDC MarketScape: Worldwide Enterprise Matter Management report, IDC noted the fact we’re extremely focused on the end-user experience of our clients, as well as the level of customization we provide: “Mitratech’s TAP workflow tool allows users unparalleled customization capabilities. Not every legal department operates the same way and Mitratech understands that and enables their users to work the way they want.”
Also from the report:
Its TAP workflow automation is a simple and heavily customizable tool to allow end users to customize their tool themselves. Mitratech also actively fosters a community of end users that share their workflows with one another to help lift the profession.
What did they say about us in the IDC MarketScape: Worldwide Enterprise Legal Spend Management report?
Mitratech specializes in enterprise clients with global operations. Mitratech has enhanced functionality around exchange rates, regional tax requirements, and language localization. Mitratech also enables multiple deployment types to assist with data sovereignty issues.
Each report assessed the capabilities of competing solutions providers in a given segment, and a lot of that evaluation is based on client feedback. We’d like to think our commitment to client support and co-innovation in charting product roadmaps and to building a strong user community (like the one that’ll gather for this year’s Interact) contributed to our positioning by the IDC MarketScape this year.
In other words? Any plaudits we receive don’t belong only to us, but to the entire community of clients and partners who have participated in evolving these solutions to where they are today. In a complex and rapidly changing sector like legal technology, their partnership is what makes any product truly useful and productive.
What’s the value of independent analysis in any technology sector?
Prospective legal technology buyers no longer just listen to what a seller has to say about a product. That paradigm has been defunct for years. Today, they’re relying on conversations with their peers, industry events such as CLOC and LegalTech, other users’ experiences, and – importantly – independent reviews and analysis when they compile any shortlist of potential providers.
That’s why it’s essential they’re able to access consistent and objective information about rival offerings. It’s in competitors’ best interests to respect and even encourage that, too. Why? For a few reasons:
- Buyers feel more confident about making a decision of some kind if there’s good information available.
- If such information and analyses are solid and reliable, then a quality provider will usually shine through when ranked against their competition.
- Providers are forced to make their products better when objective analysts are weighing in about them.
It’s better still when there’s more than one analyst surveying a segment, especially if one of them has a longstanding reputation for depth and consistency. It’s why we’ve been appreciative, over the years, of the presence of analysts like Hyperion Global Partners who have provided consistent analysis for decades, and it’s why we’re glad IDC made Matter and Legal Spend Management a focus of their MarketScape analysis in 2020.
These markets and the products competing in them are difficult to track and assess, for many reasons, and superficial reviews and analysis will only confuse and mislead the marketplace. Sophistication and depth are necessary, so it’s good for buyers to have resources like these IDC reports to draw upon.
To review the excerpts from the IDC MarketScape for yourself? Just use the links below to access them as free downloads.