Mitratech Ends Record Year with Major Expansion of Product Portfolio, Client Community and Corporate Executive Team
Propelling Legal Operations Forward through Continuous Innovation and Growth to Meet the Global Legal Industry’s Shifting Needs.
Austin, Texas (Jan. 21, 2019) — Mitratech today announced that the company has surpassed significant milestones in 2018 as a result of expanding its product portfolio, client base and senior executive team. Mitratech’s momentum continues as the company launches its TeamConnect Essentials solution in the UK and Europe at CLOC 2019 London Institute.
An easy-to-use, quick-to-implement SaaS legal operations solution, Essentials is designed for legal departments that are early in their transformation journey.
“Essentials was launched in the U.S. last year in October and is already gaining momentum,” said Chris Kraft, Senior Vice President, Product Management, Mitratech. “Legal teams in the UK and Europe are no exception to the challenge of doing more with less so it only makes sense to deliver a solution that will help reduce legal spend and save time. In fact, we’ve found that solutions like Essentials can result in saving £200,000 per year in estimated staff time for a legal department of 10, and can reduce overall legal spend by as much as ten percent.”
Mitratech has recognized the growing demand from legal departments of all sizes for better, faster, less expensive business operations and has experienced continued growth, innovation and recognition as a result of addressing these industry needs.
New and Enhanced Products
Co-innovation, new technology and talent resulted in fifteen product releases rolling out in 2018. Of those, two new products were born—TeamConnect Essentials, mentioned above, and TAP.
Mitratech acquired ThinkSmart LLC and TAP, the workflow automation solution, in April 2018. Today, TAP has been integrated with the enterprise version of TeamConnect and TeamConnect Essentials and is designed bring people, processes, and information together like never before, by leveraging TAP’s easy-to-use workflow automation engine to extend TeamConnect’s reach across the entire enterprise.
Mitratech added 80 new clients spanning five continents in 2018, and grew the total number of law firms using our e-Billing solutions by 25 percent, with 10 percent growth in total legal spend being processed through our flagship e-Billing portal, Collaborati.
“Growth in clients and activity across the industry continues to show that legal is rising,” said Mitratech CEO Jason Parkman. “We have embraced the expanded importance and responsibility of legal for our clients and are committed to continued innovation to transform the legal industry. We’re proud of how these efforts continue to be recognized.”
Mitratech received the following awards and recognition in 2018:
- TAP recognized as visionary in Digital Transaction Management (DTM) by Aragon Research for the fourth consecutive year
- Gartner named Mitratech as a visionary in its inaugural Integrated Risk Management (IRM) Magic Quadrant
- Mitratech named as one of Financial Times’ Intelligent Business Top 35 companies and a Legal Tech Top 10, receiving FT Intelligent Business Awards for Contracting and Use of Legal Technology
To continue to drive innovation, improve customer experience and increase its presence in the market, Mitratech opened an office in San Francisco and added new members to its executive team including Kelli Negro, CMO, Tom Ogburn, CRO and Jason Ream, CFO.
“As the established leader in legal tech, we feel we have an obligation to constantly examine and improve our business, which brings benefits to both our customers and the industry. Our customers know they’re dealing with a trusted provider who is committed to staying ahead of the rapid change they’re experiencing themselves,” said Mitratech CEO Jason Parkman. “Thanks to our solid partnerships, 30+ years of experience and transparency with our customers, that pace and momentum is only building as we go into 2019.”
For more information on TeamConnect Essentials, visit https://mitratech.com/ or visit booth #17 at the CLOC 2019 London Institute, Jan. 21-22 for a demo.
Mitratech is a proven global technology partner for corporate legal professionals who seek out and maximize opportunities to raise productivity, control expense, and mitigate risk by deepening organizational alignment, increasing visibility, and spurring collaboration across the enterprise. Serving 1,200 organizations of all sizes across the globe, we represent almost 40% of the Fortune 500 and over 500,000 users in over 160 countries.
With Mitratech’s proven portfolio of end-to-end solutions, operational best practices spread throughout the enterprise, standardizing processes and accelerating time-to-value. By unlocking every opportunity to drive progress and improve outcomes, Mitratech is helping legal teams rise to the challenge of serving the evolving needs of the modern, dynamic enterprise.