Two of the main international suppliers of doc administration programs for the authorized trade are coming collectively, because the cloud-based DMS firm NetDocuments has acquired Worldox, one of many oldest DMS programs nonetheless working, in enterprise since 1988, and one which primarily serves small- to medium-sized regulation corporations.
In a media briefing yesterday, Josh Baxter, CEO of NetDocuments, stated that the acquisition is meant to speed up NetDocuments’ progress amongst small- and mid-sized corporations.
“The acquisition is a means for us to speed up our footprint in medium- and small-sized regulation corporations and speed up their journey to the cloud,” Baxter stated.
Already, NetDocuments serves just about each side of the authorized market besides solos, with regulation agency prospects that vary from five-person corporations to the world’s largest. It additionally serves company authorized departments and authorities companies, together with the Govt Workplace for United States Attorneys.
The acquisition additionally highlights the persevering with motion of the authorized trade away from on-premises merchandise to cloud options. Whereas Worldox gives each on-premises and cloud variations of its product, the longer-term purpose of the acquisition is to ultimately transfer all prospects to the NetDocuments’ cloud.
Within the briefing, each Baxter and Rebecca Sattin, co-CEO and CIO at Worldox, stated NetDocuments will proceed to assist all Worldox merchandise, each on-premises and cloud, “for the foreseeable future,” and preserve prospects’ current license and subscription agreements.
Rebecca Sattin of Worldox and Josh Baxter of NetDocuments temporary the media yesterday on the acquisition.
However the longer-term plan is to work with Worldox prospects to maneuver them to the NetDocuments platform. Baxter anticipates that prospects who’re already utilizing the Worldox Cloud product can be among the many first to maneuver, as “they’ve already decided to be within the cloud.”
Sattin stated that Worldox prospects stand to learn not simply from NetDocuments’ confirmed cloud expertise, but in addition from its better number of accomplice and app integrations.
“Cloud is the core to NetDocuments’ DNA,” she stated. “We needed our prospects to have the chance to make the most of that DNA and have a direct path to one of the best and most confirmed cloud platform.”
6,800 Prospects, 300,000 Customers
With the acquisition, NetDocuments, based in 1999, turns into an organization with a mixed base of 6,800 prospects and 300,000 particular person customers in at the very least 52 international locations. Each firms serve not solely regulation corporations, but in addition authorized departments and different authorized organizations.
All however a small group of Worldox staff will transfer to NetDocuments. Sattin, who was named co-CEO final month after the arrest of the corporate’s longtime president and who was already its CIO, will turned head of part of NetDocuments’ buyer success staff.
(Baxter stated the arrest had nothing to do with the acquisition, which had already been within the works since early this 12 months.)
“We’re thrilled to welcome Worldox prospects, companions, and staff to NetDocuments, and look ahead to constructing upon the robust relationships established by the Worldox staff,” Baxter stated. “Going ahead, our focus can be integrating Worldox prospects onto our cutting-edge platform at their very own tempo, whereas delivering on our dedication to all of our prospects by continuous innovation on the NetDocuments platform.”
NetDocuments stated will probably be internet hosting webinars for purchasers to reply their questions in regards to the acquisition. Present Worldox prospects also can acquire extra info by calling (844) 638-3696 or emailing experiencespecialists@netdocuments.com.
Management from each organizations recognized a customer-first strategy and imaginative and prescient for the longer term as key synergies that may align prospects for achievement as they transfer to future-proof their corporations with the main cloud DMS within the trade.
Baxter credited Worldox for its management through the years within the space of doc administration. “Worldox laid a lot of the groundwork for why a authorized DMS issues for these small- and medium-sized corporations,” he stated. “They helped create the ecosystem that has helped NetDocuments speed up.”
This acquisition comes following NetDocuments’ August launch of PatternBuilder, a doc and workflow automation device based mostly on its acquisition of Afterpattern, a no-code toolkit for regulation corporations and authorized groups to construct apps and automate authorized paperwork and workflows.
“Business tendencies amongst regulation corporations and authorized groups mirror a prevailing cloud-first technique and the will to future-proof their organizations with platforms that may ship all kinds of instruments, seamlessly hook up with different applied sciences, and scale with their wants,” Sattin stated in an announcement.
“NetDocuments’ confirmed means to assist these capabilities coupled with their dedication to innovating new, customer-inspired options made the combining of our organizations a win-win for purchasers, companions, staff, and the authorized trade as an entire.”
Extra on the LawNext Authorized Know-how Listing:
