NetDocuments records biggest Q2 result in company history
NetDocuments, the leading secure multi-tenant cloud-based content services and productivity platform for law firms, corporate legal teams, and compliance departments, today announced record breaking customer growth and continued rapid global market adoption for Q2 2020.
As part of its record results, since the start of the legal industry’s transition to remote work in March, NetDocuments has added 153 customers, including an unprecedented number of ‘system switches’ from competitive providers. New law firms and corporate legal departments joining NetDocuments include regional law firms, state and federal government law departments, professional hockey corporate legal, and a law firm affiliated with one of the Big Four accounting firms.
Now managing over 10 billion files across more than 2,850 global customer firms, NetDocuments has become the foundation of firms’ and corporates’ remote work technology infrastructure based on its native, true cloud platform.
“The NetDocuments cloud is the safety net our customers rely on in this time of uncertainty,” added Scott Barnhill, Sr. VP Cloud Operations. “We are fortunate to have architected a solution that does not require additional technology, such as VPN, from our customers. Our customers simply went home and went to work—no help from IT required.”
Barnhill added: “With the NetDocuments true cloud, our customers can rely on the same cadence and same rate of software development and innovation they were used to before. They will never be forced to make unplanned upgrades or do anything on the client side because of the true cloud platform.”
Per company win/loss records, 56% of new customers switched from competitive content management solutions including iManage, Worldox and OpenText.
In several instances, customer system ‘swap overs’ focused on replacing hosted cloud solutions with the NetDocuments native cloud solution, further demonstrating that the legal market understands the benefits of a true multi-tenant SaaS solution.
Based on system performance analysis since March, average user traffic on the NetDocuments single instance service has increased by 20% over prior periods—an indication of increased productivity that has been supported by feedback from our customers.
With 21% of the Am Law 200 now running on the NetDocuments single instance cloud platform, NetDocuments has the second largest share of Am Law 200 firms while converting more systems from the competition than any other provider.
“We made the move to NetDocuments about six months before the coronavirus pandemic, and we are so thankful we did,” said Kathy J. Hamilton, Director of Business Development & Attorney Recruitment, The Blum Firm.
“With NetDocuments, our attorneys can work remotely just as easily as in the office. During the rushed transition to get everyone up and running from their homes, we didn’t need to do any additional setup or make any adjustments with regard to NetDocuments. It was already fully functional for everyone, regardless of where they logged in from. Had we not moved from our old document management system to NetDocuments, our firm would have faced a nightmare. With NetDocuments, we experienced absolutely no lag in productivity.”
True Cloud
One of the hallmarks of the NetDocuments cloud service, especially validated during COVID-19, is the ability to provide customers a ‘business as usual’ experience. Based on NetDocuments’ true, cloud first platform, all customers have continued to receive regular product updates and feature improvements, independent of where they are now working from or what short- and long-term working scenarios might look like.
NetDocuments CEO Josh Baxter commented on the company’s momentum: “We are extremely fortunate to be in a position to help our customers establish and strengthen their remote working setup based on NetDocuments true cloud platform. This is evidenced by our record growth during these trying and difficult times. We have especially had a tremendous amount of interest in our business continuity and collaboration solutions including our recent ChatLink Microsoft Teams integration.”
Transparency Feeds Momentum
Recognizing a gap among legal-focused cloud technology providers, NetDocuments strives to deliver complete, publicly available, transparency in service up-times. In 2018, NetDocuments launched its service status trust site for all to see and monitor online. The service status pages present real-time service health and performance on a geographical/regional basis. NetDocuments is still the only cloud-based DMS that provides this level of cloud service transparency with 100% uptime across all three global service regions (US, EU, and AU) since January 2020.
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