Opening the Next Frontier: Mitratech Acquires ThinkSmart
Most announcements of business acquisitions are cautiously worded, trotting out the standard hyperboles: transformative, game-changing, world-class, pioneering, and the like.
Not that these words don’t mean anything. It’s just that they’ve been so often used to describe these situations, they’re drained of vigor and novelty, and we grow to doubt their sincerity.
This time around, however, I want to get away from the rote (if necessary) language of the press release and try to sum up how it feels at this pivotal moment.
It feels as if we’re standing at Kitty Hawk, or poised to take Neil Armstrong’s first step onto moondust.
Does that sound hyperbolic, too? For an entrepreneur, for those of us who have invested heart, toil and years in building a company and a product, it’s not. We’re feeling a catch in the throat, an exhilarating anticipation as we know we’re taking flight to the next level.
It’s the very real sense you’re standing at a dividing line between What Came Before and The Future, about to open up an entirely new frontier of possibilities.
Tomorrow started April 23
On April 23rd at CLOC Institute 2018, it was announced that Mitratech had officially acquired ThinkSmart.
It couldn’t have happened in a better place. Not only because the two companies have risen to the forefront of Legal Operations technology, each by their own path. But because it was announced in the presence of the community, customers, and friends who have made our own success possible.
The synergy between Mitratech and ThinkSmart was too powerful to ignore, and can mean extraordinary things for Legal Operations teams. Let’s start with the fact that for 30 years, Mitratech has led the way at providing legal management, policy management, and information governance solutions. Many competitors have fallen by the wayside over the years, while the trust users continue to invest in Mitratech is eye-opening; it’s why they’re relied upon by 1,200 global corporations and 500,000 users in 160 countries.
By integrating our ThinkSmart Automation Platform (TAP) into their TeamConnect offering, which is already the most widely-used ELM software in the world, we’ll create something quite singular and remarkable: an end-to-end platform designed to turn Legal Operations into a center of innovation and excellence for the entire enterprise. As, of course, we put it in the press release.
A true stride toward transformation
This integration will consign all other ELM systems to the cobwebs of history, as TAP will be the ingredient allowing every corner of an organization to employ TeamConnect’s legal and compliance solutions. The workflow designer in Procurement or HR will know their processes are compliant, as the team in Legal Ops ensures it through centralized governance, templating and content control.
This, as our own users know, accelerates time-to-value for everyone. The “halo effect” for Legal Operations? As never before, they’re embraced as a standard of excellence, agility and efficiency, and an easy-to-leverage strategic partner.
Again, this integration is a pivot point in Legal Ops technology. Mitratech and ThinkSmart even announced it at CLOC with uncharacteristic showmanship, as the start of “2018 L.T. – the year of Legal Transformation.”
“Transformation” has become a cliché, of course, an empty promise. Yet if there’s one thing to be said about both Mitratech and ThinkSmart, it’s that neither of us has ever served up empty promises.
We’re still here for current customers
Our Legal Ops and law firm users will be able to use TAP exactly as before, as a standalone solution with the same collaborative support they’ve always enjoyed. That mattered to us; I’m happy to say it mattered to Jason Parkman and the team at Mitratech, too.
Together with all our users, we’re standing at the beginning of something very singular and special. It’s been gratifying to get here, but the frontier ahead? It’s practically limitless.