Mitratech Listed Among Financial Times’ Inaugural Top 35 Intelligent Business Award Winners and Other Prestigious Categories
FTIL Intelligent Business Award for Use of Legal Technology
The Financial Times’ inaugural FT Intelligent Business Special Report has recognized Mitratech among the top companies with the greatest impact on the practice and business of law. The report highlights the integration of people, processes, and data to solve a legal business’ operational challenges and how the ramifications of this back-office revolution are felt across organizations everywhere.
“The fact that the Financial Times is now tracking the impact of legal technology reinforces that the industry is at a tipping point,” said Jason Parkman, Mitratech CEO. “There’s more transformation that lies ahead. We are honored and humbled to be a part of that movement and in good company with several clients we were recognized with.”
The company was presented with the following honors:
- FT Intelligent Business Top 35: Mitratech joined other leaders cited for being the best at integrating legal and professional services with data and technology.
- Legal Tech Top 10: Mitratech is listed among top legal technology leaders who are recognized for having the greatest impact on the practice and business of law.
- FT Intelligent Business Award for Contracting (shared by VMware, Apttus, QuisLex and Mitratech): As the contracts essential to VMware’s global technology service business increased in both number and in complexity, the company’s legal team rewrote its entire contracting process, starting with the help of contract management software from Apttus, and automated simple contracts such as non-disclosure agreements with the help of QuisLex, the legal process outsourcer. Mitratech’s TAP Workflow Automation platform enabled contract approval on “any device, anywhere”. Finalizing contracts now happens 50 percent faster and savings amount to more than $8.4 million a year.
- FT Intelligent Business Award for Use of Legal Technology (shared by NetApp and Mitratech): The risk assessment processes at NetApp were laborious, costly and required detailed management by senior lawyers until the legal team began to implement Mitratech’s TAP Workflow Automation technology. One example: information collected from sales partners is now given an automatic risk rating and directed to the appropriate person in the legal team or third-party legal provider. Other processes have also been automated, allowing NetApp’s legal department to collect operational data and tailor compliance training with less effort. The legal team has also developed 42 use cases for six other NetApp departments. Using TAP across different departments has helped connect business processes and improve communication.