Legal transaction management provider Legatics today (7 February) announces the launch of its second-generation platform, significantly expanding its capabilities beyond transaction management into broader legal project management.
Legatics 2 has seen Legatics effectively rebuild its entire platform to simplify legal project workflows and accelerate deal closure across a far wider range of law firm practice areas, including banking and finance, litigation, capital markets, real estate, corporate and M&A, regulatory, employment and restructuring.
Speaking to Legal IT Insider, CEO Anthony Seale said: “I think there is a risk that we’ve been seen as just doing the signing and closing of documents bit, but lawyers are project managing much more than that. We thought, ‘How do we tackle all of this? So we have built a really flexible platform put together using templates that lawyers can use across different practice areas.”
The new platform means that lawyers will be able to manage all aspects of a project within Legatics. Seale said: “Managing legal projects is hard work. It’s even harder if you have work spread across lots of generic tools. It’s easy to lose track of all the moving pieces – and it’s tough to stay up to date. That’s when things fall through the cracks. Legatics offers law firms and in-house legal departments a single platform to organise those projects and meet their deadlines. Helping teams to plan, organise, and manage their matter or project, irrespective of whether it is a deal or transaction, a merger or acquisition, or a liquidation, from start to finish.
“Good legal project management software acts as a collaboration tool. Coordinating documents and actions, so everyone knows what’s going on and who’s doing what. Allowing teams to share files, leave comments, and get real-time updates. Giving them a complete view of progress and keeping everyone in the loop. You don’t have to use document management systems, word processors, spreadsheets, emails, and other tools to keep your matter moving. With Legatics, you can track and manage everything – from inception to closing – in one place.”
Lawyers are able to use the template list to build the processes that applies to their project, with Seale observing: “All of these columns would have been hard coded in the previous version of the platform but now they are completely flexible.”
Legatics’ key new features include:
- Legal text importer: With Legatics’ legal text importer, you can transform any legal text – like warranties from your SPA, conditions precedents from your facility agreement, or completion obligations from your restructuring – into structured checklists in seconds.
- Signing view: With Legatics’ dedicated signing view, your data stays in sync. You can also set up your parties and signatories in advance of signing, then push that data to DocuSign, and watch in real time as the required signatures come through.
- Template lists: With 40+ templates to solve a wide range of problems, flexible columns for customisation, and a simpler user interface, Legatics can be used by lawyers across multiple practice areas to manage their projects from start to finish.
Daniel Porus, chief commercial officer at Legatics, said: “Going into an economic slowdown, we are seeing a shift in how busy different practice areas are in many law firms. Counter-cyclical areas, such as restructuring and insolvency, are looking for quick ways of expanding their delivery capacity. Experienced lawyers take time to train, so many firms are turning to technology to help deliver their services. Legatics is evolving to meet the current needs of firms across the globe. Providing broader matter and project management capabilities that will drive efficiencies across a wider range of practice areas and use cases. Our platform’s new functionality will allow firms to save time and boost productivity in an economic environment that demands efficiency.”
Find out more about Legatics 2 in a launch webinar on 9th February at 9:30am. Register here: https://hubs.li/Q01y6J3B0