As CEO, Avaneesh is responsible for leading Litera Microsystems as we continue to grow in market impact and influence. He drives our entire team to deliver truly leading-edge solutions for our customers, and he challenges our team to improve every function across our business.
As 2019 draws to a close, I’ve been reflecting on what we’ve accomplished at Litera over the last year. It’s been another remarkable year, with continued growth for Litera Desktop and our expansion of the document lifecycle into transaction management. Along the way, we’ve continued our focus on workflow-centric solutions, further built our global presence, and invested substantially in our own research and development. It’s also been a year of validation, as we’ve seen and heard firsthand about the benefits of vendor consolidation and workflow simplification for our end users.
Here’s what we’ve been up to.
Litera Has Expanded the Document Lifecycle to Encompass Transaction Management
During one of Litera’s own transactions, we had a lightbulb moment: everything about the process was what we try to avoid with our technological solutions. Getting documents finished and signed off on was laborious, slow, paper-driven, error-prone, and not remotely transparent. So much human effort is still involved in these tasks that could readily be automated and streamlined with the right technology, making transaction management ripe for disruption.
There were already some great partial solutions in the market, which led us to acquire Workshare—including Workshare Transact—and, soon after, Doxly. Rather than building from scratch, we’re working with the strongest players to create a transaction management solution that will serve for any type of transaction anywhere in the world.
Litera Continues to Emphasize Workflow-Centric Solutions
We’ve been talking up the advantages of vendor consolidation for years now. It’s simply not practical or efficient for lawyers and law firms to have to identify, vet, purchase, and use point solutions for every task they need to do. That’s why we focus on the entire document lifecycle, helping our users improve the way they interact with documents from the moment those documents are created until they’re ready to go out the door. With transaction management, we’re now including the deal—the reason many documents are created in the first place—in that workflow.
Our customers, the end users of our technology, don’t have the time or the bandwidth to switch technologies and work environments every time they switch tasks. Our mission is to understand how lawyers work and where they’re encountering pain points or inefficiencies—like transaction management—so we can smooth out their entire work process.
Litera Is Investing in Its Own Development
Litera is unique in that we’re a truly global organization in every sense of the word. As of now, about forty percent of our employees are outside of the United States. We’re also—as I just mentioned—looking for solutions that are “global” in that they should span entire workflows and address documents and transactions of all types rather than being niche or specialty solutions.
We’re also investing considerably in our own research and development. We’ve got a strong enough foundation that we can now afford to double down on software development, growing when and where our customers need us to. That investment pays dividends to our end users, who engage with our technology repeatedly throughout the day. When they alert us to a need for a new feature or capability, we prioritize those requests. With our emphasis on development, we’re able to get that feedback, research a solution, build it, and release it to our users faster than ever. That increases the return our customers receive on their investment and validates their choice to work with us.
For me and for Litera as a whole, that’s where our focus begins and ends: thinking about what our customers need. How can our products and services help them do their work faster and more easily?
If you haven’t tried our full suite of document workflow—and transaction management—solutions, request a demo to learn more. And stay tuned to hear what we’ve got planned for 2020 and beyond.