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Another Whirlwind Year at ILTACON

By Litera Microsystems on August 30, 2019
Litera Microsystems

Another year at ILTACON is in the books, and this was a big one. We’re glad to see that ILTA’s annual meeting has returned to its roots and brought more focus back to core IT roles. And we weren’t the only ones—ILTACON announced that it expected about 1,850 member registrations, up from 1,715 last year, with 800 of those spots filled by first-time attendees. Add to that about 1,700 business partner registrations, and we had a full house.

Of course, it wouldn’t have been ILTACON without a huge discussion of artificial intelligence and other perennial favorite topics, but we were particularly interested in three themes that emerged over the course of the week: the benefits of vendor consolidation, the changes coming to transaction management, and the desire to simplify and streamline legal technology.

Vendor Consolidation

Vendors have been combining and consolidating their products and services for years, but the pace seems to have picked up. Several companies announced new partnerships in the months leading up to ILTACON, including Litera Microsystems. Our acquisitions of Workshare and Doxly were big news, and for good reason. Combining these companies simplifies the ownership of document drafting technology which firms need – enabling them to get best-of-breed products from a single, integrated supplier. Other companies are making similar moves towards creating full software platforms that provide wraparound solutions for entire workflows.

But is consolidation working for our customers? We conducted some attendee surveys, and according to our preliminary results, firms are consolidating vendors for three reasons: to simplify their lawyers’ workflows, streamline troubleshooting and customer service, and reduce overall costs. These have been our driving motivations, and we’re glad to hear that customers are seeing the benefits.

The Buzz About Transaction Management

Transaction management has been ripe for a change for some time. Even in the age of accelerating technology, the process of completing transactions has remained slow, expensive, and error prone as lawyers get bogged down in email records and physical paper trails. As we’ve streamlined and simplified the document drafting lifecycle, we’ve seen how our users have taken their perfect contracts into transactions—and promptly encountered a whole new batch of pain points around everything from signing documents to sending final copies to all the participants. In our view, transaction management is ready for an evolution, and that’s what we’re aiming for next.

In addition to Doxly, we recently acquired Workshare Transact as part of our deal with Workshare. We can’t wait to show you how our document drafting and our new transaction management tools will combine to provide a seamless, pain-free way to execute agreements.

Simplifying With Litera

While we were at ILTACON, we hosted a variety of events and made more than a few friends by sponsoring a golf cart ferry system between the two conference buildings. What we heard about over and over in those casual conversations was the importance of simplifying. Simplifying what? Everything from workflows to product support, technology updates, vendor relationships, and, of course, the work itself, from generating flawless documents to managing transactions effortlessly.

So, we’re proud to say that simplifying is still our central mission. Our goal is to make the work you do every day better, more efficient, and more enjoyable.

From first draft to final delivery, we’re offering products and services that will make your work—and your life—simpler and easier than ever. If you didn’t catch up with us at ILTACON, contact us today for a demo.

Topics: Events, Legal, ILTACON

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