The ILTA Sessions: DocsCorp sees 30% revenue growth and talks product expansion
We continue our ILTA briefings with a quick-fire conversation with DocsCorp’s president and co-founder Dean Sappey. DocsCorp has 100 staff in offices across Sydney, London, Pittsburgh, Portland and Oregon. It has seen year-on-year revenue growth of 30% in the last five years (its year end is in June) and the focus this year is on building out the features in its existing products.
What are your recent growth figures?
Our revenue grew again this year by 30% – we finish our year in June – and for the last five years we have been growing at that pace. We are aiming for that number because it’s manageable growth and it’s still an exciting place for staff to work.
I attribute that growth to substantially adding new clients each year, particularly ones moving away from competitor products. We have four major products and firms typically put in one a year – a lot of that revenue is additional products going into existing law firm clients as well as winning new business.
Tell us about any new product launches
We’re all about growing the features in our existing products this year. pdfDocs got much broader, dealing with documents on the web and allowing you to auto search and remove specific types of data such as tax file numbers; credit card numbers; and email addresses. If a lawyer gets a confidential document and wants to remove data they can do that with one click – it’s a really big time saving feature and a good indication of where pdfDocs is going.
We’re keen not to build lots of separate products: we want one window and one functionality so customers don’t have to create 10 different add-ins; they just create one. That makes it easier to upgrade and less problematic.
How about new client wins?
We’ve won a bunch of very big firms: Baker McKenzie has bought pdfDocs for creating binders. This year at least 50 of the top 200 in the US and UK have bought new products on top of existing products or are new wins. We’ve had wins in the big four accounting firms – two of the accounting firms that have 150,000 users. The biggest law firms are in the fact the Big Four accounting firms: it’s one of our biggest wins and we’ll never get a law firm that big.
What was hot at ILTA?
For us its been continuing to work with our DMS partners. We’re integrating with the new iManage 10 and have a lot of new product features: cleanDocs now allows people to send emails to the right people; that’s a big growth area for us. For all our products, it’s a continual evolution – we’re releasing new stuff every month. The big benefit of ILTA is that everyone is in one place including our partners from all round the world, so we can fast track information about new products and adjust our roadmap.