iManage reports cloud leadership across segments and commanding market growth
Changes in how professionals work, sparked by the need to enable remote working and enhanced data security, drive significant momentum in cloud and mid-market segments
iManage, the company dedicated to Making Knowledge Work, today announced strong growth in the company’s cloud services business. Organisations modernising their IT infrastructures and systems to support new needs of knowledge workers and the evolving demands of clients have adopted iManage Cloud to drive increased business agility, knowledge worker productivity, and enhanced security and governance over critical business information.
Having achieved 59% Year over Year (YOY) growth in SaaS revenue in 2020, iManage continues to drive elevated customer engagement and adoption of its leading cloud-based knowledge work platform. Additional milestones demonstrate strong growth and industry leadership across market sectors and technology innovation:
Cloud Leadership
- 81% increase in new SaaS bookings in Q2 2021 vs. Q2 2020
- 591 new cloud customers and cloud conversions since the start of 2020, contributing to 46% of iManage’s 3700+ customers in iManage Cloud. Growth forecasting predicts that more than half of iManage customers will be in the cloud by end of 2021
- Ongoing, rapid growth in the Fortune 500, including two of the largest global financial institutions, demonstrating that the iManage Cloud meets the security and functional needs of these most demanding organisations
Overwhelming Choice for Large Global Law Firms and Mid-Market Growth:
- 78% of the Global Law 100, 21 of 25 of the top Canadian law firms, 77% of the AmLaw 200, and 75% of the AmLaw
- Linklaters’ selection of iManage Work in Q2 2021 makes iManage the document and email management system (DMS) of choice for all five of the prestigious, UK Magic Circle firms
- Share of small- to mid-market law firms has increased dramatically, currently making up almost 60% of iManage customers worldwide. Since 2020, 90% of new accounts in this sector are adopting iManage Cloud
Product and Security Excellence and Expansion
- Global availability of Legal Transaction Management (LTM) product, iManage Closing Folders, acquired August 2020
- Availability of all iManage risk management products in iManage Cloud, beginning Q4 2021
- Ongoing elite security leadership with achievement of Cloud Security Alliance (CSA) Security Trust Assurance and Risk (STAR) Level 2 certification, a rigorous third-party independent assessment of the security of cloud service providers
- Adoption of Microsoft Azure for the iManage Cloud, announced Q2 2021, adds critical security features, enhanced availability and global footprint to meet clients’ jurisdictional data residency and processing requirements
“The results we’ve achieved are testament to the hard work the iManage team is putting into the ongoing development of the industry’s most secure Cloud platform, our relentless focus on customer outcomes, and the robust expansion of our global partner ecosystem – particularly our tight alignment and integration with the Microsoft stack,” said Neil Araujo, CEO, iManage. “Our customer success and momentum signal that we’re well positioned for our mission to help customers uncover and activate the knowledge in their organizations with greater efficiency, automation, and improved business results.”
Many of today’s top legal organisations are deploying iManage to provide leading capabilities to their users delivered through a high performance, secure Cloud-based infrastructure. iManage vastly improves user experience and remote working while integrating document management, collaboration, security, and governance abilities – all designed to be in step with the way lawyers work.
Patricia Mansuy, Interim CIO at Cole Schotz, commented: “We did do a review of the other cloud vendors…but it was clear that iManage was where we needed to be and go. We firmly believe that cloud has made us more secure. We are no longer at the mercy of having to do constant updates on our hardware and software and ensuring…everything that goes on with regard to security. That’s really freed us up to do some greater things that really are focused on enhancing the practice of law instead of being down in the weeds.
“When you know that you can have your data, your workloads in the cloud — our two most important are Exchange and our documents — I don’t have to worry. I can sleep. I trust that Microsoft and iManage are ensuring that our security is strong and they’re watching 24/7.”
Dana Wesley, Sarti Litigation Support Manager at Robbins Russell, providing insight from her firm’s recent iManage deployment, stated: “The amount of overhead and the amount of expertise one has to have in house compared to the cost of having iManage in the cloud makes the choice [between on-premises and the cloud] in my mind, not even a competition. Being in the cloud was so liberating in terms of knowing where stuff is and being able to get to it no matter what’s going on back at the office.
“It was clear, absolutely crystal clear, that moving our data to iManage Cloud – moving the clients’ documents to iManage Cloud – would make them more secure.”
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