Rekoop seizes the day as market says it’s time for new favourite
Less than four years since it was launched, time capture specialist Rekoop says it has overtaken long-time market favourite Tikit Carpe Diem in the UK top tier. Three signings in the first quarter of 2015 have propelled Rekoop to 25 clients in the Top 200, compared to Carpe’s 23. With the total Rekoop client base now well exceeding those of its nearest competitors both in numbers and geographical scope, and with its compelling win rate over the past two years, there is clear evidence of where market sentiment lies today.
CEO Phil Wedgwood (pictured) comments: “Rekoop is now the clear market leader outside the USA (where we don’t play), in terms of both popular appeal and customer numbers worldwide. For a company that was told four years ago that we’d never get anywhere because time recording ‘had already been done’, that isn’t a bad achievement. We’re now set on consolidating our position not just in the Top 200 but in the mid-tier, chambers, and across EMEA and the Pacific Rim.
“For me, the rate of growth has perfectly validated our original decision to be a pure play time specialist. While others may have diversified to try and drive additional revenues, we’ve poured all our investment, resource and know-how into building the best possible time platform for legal. And as we work to help firms understand the currency of time and leverage its true value, we shall continue with this single focus and develop and evolve the product accordingly. Time recording may well ‘have already been done’ – but not by Rekoop, and these latest figures would certainly indicate that it’s a winning reinvention.”
COMMENT: No, this is not another April Fools story. Looking at the latest iteration of the Insider Top 200 Chart (final version to be published later this month) thanks to the latest round of mergers, Rekoop deals (you’ll see them on the next chart) and chart new entries, Rekoop does now have more sites than Carpe Diem and is now only a couple of points behind Intapp in the UK.