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The legal industry, unlike most other verticals, has been relatively slow in adopting digital transformation. Although many people might look at it as a setback, it has mostly been a blessing in disguise.
That’s because by waiting for—and not jumping into— the latest technologies, legal organizations are now poised to reap the lessons learned from the numerous successful digital transformations in other industries. These established journeys help make it even more convenient for the legal firms to adopt and implement digital innovations quickly, effectively, and with a solid proof of concept (POC) to bolster their workflows, security, and overall productivity. In light of this, to help legal, accounting, and financial firms participate and flourish in a modern marketplace, Chicago-based iManage was re-established in 2015 as an independent, management owned company in a buyout from HP. “As a global work product management solutions provider, we offer a wide range of solutions for legal firms and other professional services organizations to help serve their customers more effectively by improving productivity and governance throughout the creation, sharing, and security processes of sensitive data,” says Neil Araujo, co-founder and CEO of iManage.
Since its inception, iManage has been successfully delivering comprehensive, integrated, and reliable solutions to help professional organizations securely manage documents and deliver better client service. And with the acquisition of RAVN: an expert in AI-based solutions for legal enterprises in 2017, iManage is expanding its solution platform and its ability to support a client’s digital transformation.
iManage’s end-to-end platform—now powered by the RAVN AI engine—spans the entire work product life cycle from business intake through defensible matter disposal. This single, integrated platform includes solutions for business intake, conflicts management and ethical walls, document and email management, collaboration, knowledge management, threat analytics, artificial intelligence, and records management. These offerings aid iManage’s customers to coalesce back-office tasks as well as streamline the execution of their services by using a single, centralized solution.
We support digital transformation for our clients, which opens windows of opportunity for them to improve revenue, increase efficiency, and mitigate risks
Also designed into the platform is security software that governs data access per policy and monitors for external and internal threats, which safeguards all documents. “We provide comprehensive, multifactor protection, and go beyond document-level firewalls to enforce need-to-know security at scale,” expresses Araujo.
To further elucidate on iManage’s capabilities, Araujo shares a case study of a London-based law firm that lacked a centralized, coordinated approach to a comprehensive knowledge base, and required a system that mitigated excessive metadata and taxonomy development processes. iManage, utilizing RAVN’s Insight, analyzed and identified volumes of organizational data, allowing users easy access to necessary and accurate legal information while significantly reducing the time professionals spend on research and IT. “Implementing our solution, the law firm has experienced numerous benefits in managing their knowledge base and delivering exceptional customer experience,” recalls Araujo.
Over the course of the next 24 months, iManage seeks to strengthen and expand its platform, allowing legal organizations to tackle the various challenges they face. The company is in the process of aggressive growth, conducting continuous R&D of new innovative solutions to securely manage documents and unlock the value of knowledge held in those documents to fuel legal organizational transformation.