iManage momentum accelerates, fueled by customer growth, ongoing cloud and AI investments, and strategic Microsoft partnership
Customer base continues to expand as iManage delivers major platform advancements that help customers work smarter, faster, and safer
iManage, the company dedicated to Making Knowledge Work, today announced that it is experiencing a surge of momentum across multiple areas, from customer and financial measures to product and technology milestones. On the customer front, the company has experienced robust growth, adding 142 new logo customers since the start of the year. iManage now serves 4,183 customers around the globe, including 39% of the Fortune 100 and 81% of the Am Law 100, in addition to top accounting and financial institutions and thousands of smaller, boutique customers who rely on iManage to deliver better business outcomes.
In total, the iManage knowledge work platform handles more than 19 billion documents for end users who have entrusted iManage with their critical work product. A majority of those documents are stored in iManage Cloud, a number that reflects the rapid uptake of iManage Cloud in the market as an essential platform to collaborate and be productive from anywhere, on any device, safely and securely.
iManage Cloud experienced an impressive 43% year-over-year growth of annual recurring revenue between June 2023 and June 2024. One of the latest customers joining the iManage Cloud is globally renowned Magic Circle law firm Linklaters LLP.
“We are proud to have transitioned to iManage Cloud, a key milestone in modernising our technology,” said Bruna Pellicci, Chief Information Officer, Linklaters. “When I joined Linklaters, our complex DocExplorer system was valued by users but needed an upgrade. Moving to a proven Cloud Document Management platform was essential for a future-ready infrastructure. Our global rollout of iManage Cloud in Asia, Europe, the US, and the UK went seamlessly, thanks to the Linklaters team working in partnership with iManage, Morae Global, and Encore Technologies. The smooth transition led to immediate widespread adoption, showcasing the system’s user-friendliness. Looking ahead, we are excited about AI opportunities. With a new head of AI and Microsoft’s Copilot, we aim to enhance our knowledge management and operations with iManage.”
Earlier this year, iManage announced the planned opening of a new datacenter in Switzerland, which will join a recently added datacenter in the United Arab Emirates in helping iManage Cloud customers tap into a global network of Microsoft Azure-backed datacenters to address their data geolocation needs at a highly granular level. This will bring the total number of iManage Cloud data centers to 11.
Alongside ongoing investments in a modern, secure, cloud native architecture that meets the needs of today’s workforce and readies them for the future of work, iManage has recognised the tremendous potential of AI to improve the efficiency and productivity of knowledge workers and has responded by building innovative AI capabilities into its knowledge work cloud platform that allow customers to leverage AI securely and responsibly. The first three AI services will be rolled out this fall.
iManage is also continuing to leverage its strategic partnership with Microsoft to find new ways to deliver value to customers and enhance the way that work gets done. As part of its participation in Microsoft’s Cloud Storage Provider Program Plus (CSPP+), iManage now offers Next Generation Co-authoring, a new capability that provides an easy way for knowledge workers to collaborate on Microsoft Word, Excel, and PowerPoint documents simultaneously across teams in real time, with all edits automatically saving to the iManage platform. This capability removes the friction associated with file check out/check in, enhancing the ability of professionals to collaborate on their critical work product while saving time and increasing productivity.
“We are very excited about Next Generation Co-authoring, which we believe has the potential to remove barriers to collaboration that we’ve previously encountered,” said Bill Tanner, Chief Information Officer at Australia-based international law firm Allens. “We are also eager to leverage the deep connection between iManage and Microsoft, two integral platforms in our daily operations. We expect that this synergy will yield powerful benefits and enable our teams to work more efficiently and effectively.”
iManage also continues to experience momentum around innovative newer products like iManage Closing Folders, a legal transaction management solution that automates repetitive aspects of closing deals, from creating checklists and managing versions, through to capturing signatures and creating final closing books. iManage added more than 35 new Closing Folders customers in the first half of 2024. Consistently strong end user engagement and end user satisfaction levels reflect an appreciation for the significant benefits that Closing Folders delivers, reducing time spent on administrative tasks so that customers can focus on what matters most.
“2024 has been an exhilarating year so far,” said Neil Araujo, CEO, iManage. “Our relentless focus on innovation and customer success is driving remarkable growth, while our strategic investments in cloud and AI, along with our deep partnership with Microsoft, are transforming the way our customers work. The market is recognising that having your information in one place and appropriately tagged, secured, and governed is a prerequisite for successfully using AI, and we are ideally positioned to build on our decades of experience in this area to deliver the innovation that will enable them to collaborate more effectively, securely leverage the knowledge and talent within the organization, and become more productive. We look forward to continuing to partner with our customers to help them thrive and succeed in the year ahead.”
See iManage in person at ILTACON, August 11-15 2024, in Nashville. iManage will be at stand #641.
