DocsCorp unveils 20% growth for 2018-2019: We speak to co-founder Dean Sappey
DocsCorp last week announced its end-of-financial-year results for 2018-19, delivering a 20% global growth in sales: the best sales results in its 15-year history and more than double last year’s growth of 8%.
DocsCorp’s co-founder and president, Dean Sappey, said that strong demand for its document productivity solutions, and especially products that help reduce unintentional data leaks, drove sales. “One of the biggest areas of growth was around what we’re doing with cleanDocs,” he told Legal IT Insider. “We’ve always removed metadata but the biggest issue at the moment is emailing the wrong people and that has been a big growth area.”
Data loss prevention was at the heart of cleandocs 2.0, released at the end of 2017, which expanded the functionality of its metadata cleaning tool to help users prevent accidental leaks of sensitive information via email.
Next month DocsCorp will be announcing a joint product release with iManage leveraging cleanDocs functionality. It will be launched the week before ILTA, so watch that space. Sappey adds: “There are close to a thousand firms using cleanDocs and in the last financial year it was our single fastest growing product because firms recognise that misdirected emails are a big area of risk. Combined with the document management system means we provide a complete solution in a way that others don’t.”
According to Sappey, DocsCorp’s productivity and compliance solutions have added more than 100,000 new users and over 500 new clients. “These include large law and accounting firms, banks, government departments, and Fortune 500 companies. We were adding on average, two new clients every day to the 4,000+ that currently benefit from our solutions globally,” he said.
During the past year we have seen strict new laws and regulations such as GDPR being enacted in the EU, Australia, Canada, and in California to protect and secure personal data. Sappey said: “Firms are turning to software solutions like ours, which can be deployed as part of a broader data security program to help them achieve their compliance obligations. We have also witnessed strong demand from U.S firms seeking to replace their legacy document comparison and metadata management applications with more powerful, easier-to-use technology.”
The results come shortly after Workshare was acquired by mutual rival Litera Microsystems, which is creating a cradle to crave drafting platform (combining, so far, XRef; Litera, The Sackett Group and, of course, Microsystems).
Sappey says that DocsCorp will continue growing thanks to its partnerships. “While rivals focus on creating a platform, we’re an integration partner with document management vendors – when someone puts in a DM, they put in our product at the same time. Thanks to NetDocuments OCR tool, we’ve added 300 clients in the past years.”
Geographically, this year’s biggest growth came from mainland Europe. Sappey says: “We probably grew more like 40% in mainland Europe in the last financial year, from Benelux and Germany to the Nordics. That will keep growing, but we think that next year North America will grow faster because of the uncertainty surrounding our competitor products.”