Legal tech win: Stephenson Harwood selects Litera for transaction management
UK top 50 law firm Stephenson Harwood has selected Litera as a core transaction management platform. The win announcement notably makes no reference to Transact or Doxly, the transaction management platforms that Litera has acquired and absorbed in the UK and US respectively as it pieces together a one-stop-shop productivity suite.
Litera’s transaction platform enables legal teams to organize, track, and collaborate online during a deal. Stakeholders can create checklists, interact with and track all versions of documents needed for closing, and get real-time status updates on the deal progress.
Tammy Samuel, partner and head of finance at Stephenson Harwood, said: “We pride ourselves on putting the evolving needs of our clients at the heart of our approach to providing legal services. Investing in Litera’s transaction management software is just one example of the ways in which we do this. The new technology will support a more efficient and smooth transaction process, allowing legal teams to collaborate in real-time while ensuring that all Conditions Precedents (CPs) are collated and tracked in a timely and cost-effective manner. It will also assist us in streamlining our post-contract process and production of transaction bibles.”
Haley Altman, Litera’s general manager of transaction management, who founded and sold Doxly to Litera, said, “We’re excited to extend the reach of our global services by partnering with Stephenson Harwood, one of the largest and most innovative law firms in the UK. Our mission is to provide a simpler, more collaborative process for law firms and their clients at every step of the deal process.”
Clients of Transact include Clifford Chance while in August Doxly announced that Wilson Sonsini Goodrich and Rosati had become the first Am Law 100 law firm to commit to automating the signing and closing process for an entire practice area – its emerging companies practice.