Mitratech Acquires ThinkSmart LLC to Create Industry-First, End-to-End Legal Operations Platform
Integration of ThinkSmart's agile workflow software into Mitratech's TeamConnect platform sets a new global standard for legal and compliance innovation and excellence
LAS VEGAS, April 23, 2018 (GLOBE NEWSWIRE) -- Today, Mitratech a leading provider of legal and compliance software, announced the acquisition of ThinkSmart LLC, creating an end-to-end platform designed to transform legal operations into a center of innovation and excellence. With the addition of ThinkSmart and the ThinkSmart Automation Platform (TAP), Mitratech's TeamConnect platform can now bring people, processes and information together like never before, by leveraging TAP's easy-to-use workflow automation engine to extend TeamConnect's reach across the entire enterprise.
In today's rapidly evolving legal landscape, there is a need for a truly evolutionary Enterprise Legal Management (ELM) platform. ELM systems have delivered on the operational efficiencies, centralized view of information, security and data integrity required by professionals within legal departments. As leading legal departments have grown into strategic partners with the rest of the business, the need for technology that securely and rapidly extends legal operations and services across the business is increasingly prevalent. Combining TeamConnect with TAP uniquely addresses that need.
With the combination of TeamConnect and TAP, Mitratech has built on the success of the most widely used ELM platform. Legal departments can now:
- Securely extend the virtues of TeamConnect's single source of truth throughout the entire organization to power collaboration across the enterprise, respond to emerging risks and improve business results.
- Accelerate time-to-value through the rapid integration of legal and compliance-related workflows that can be quickly designed and securely executed.
- Quickly and easily design, build and deploy automated workflows such as legal intake/new matter requests, automated NDA's and contract management to accelerate processes and transform organizations.
- Act as the core of the entire business, both as an archetype of efficiency, agility, and compliance, and as an accessible, easy-to-leverage strategic partner throughout the enterprise.
The result is an increase in organizational efficiency, visibility and collaboration while decreasing cost, time and overall risk impact. The acquisition of ThinkSmart allows Mitratech to further help customers reduce risk overall whether legal, regulatory or operational, by providing them with unprecedented visibility, predictability and control.
"Individually, each company has been a factor of change in the industry. Combined, we're positioned to open up the 'next frontier' for legal operations", said Mitratech CEO Jason Parkman. "Legal and compliance teams will be able to extend processes and best practices throughout the enterprise to proactively manage risk. By securely extending the virtues of TeamConnect through TAP, the legal department becomes a trusted advisor and the center of innovation for the business."
"We are truly excited for this new opportunity to help TAP customers further innovate legal operations," said ThinkSmart CEO Paul Hirner. "Our existing customers will greatly benefit from expanded service and support, as well as significant increases in product development investments, while still experiencing the service, culture and commitment of the ThinkSmart team."
Mitratech is a market-leading provider of legal and compliance software solutions for more than 1,200 organizations of all sizes across the globe, representing almost 40 percent of the Fortune 500, and over 500,000 users in over 160 countries. Mitratech's portfolio of enterprise legal, compliance and risk management software includes: legal matter management, spend management, eBilling, legal hold, contracts management, risk management, information governance, and policy management. To learn more, visit www.mitratech.com.
Ellen Mason, Mitratech, firstname.lastname@example.org, +1.512.646.8802
Sue Huss, ThinkSmart, email@example.com, +1.619.379.4396
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Mitratech via Globenewswire
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