Closing 2017 on a High Note by Winning Together with our Customers
2017 was an incredible year for Doxly and for our customers! We are thrilled that we were able to win together by helping our customers meet their business goals more efficiently and effectively.
I am proud to say that in 2017, we helped our law firm customers take the lead and stand apart from the competition. We were there from the start to the finish of our customers’ legal transactions, making sure that they had time to focus on higher-margin, higher-value work.
In 2017, our customers closed deals with a value in excess of $750 million – based on early reporting from only 50% of deals run on the platform! Some customers are even leveraging Doxly as an accelerated training tool to get associates up to speed on how to run deals. I’m thrilled to see our customers use Doxly to master everything from legal transactions to client communications and talent retention.
As we wrap up this year, I want to share my respect and admiration for our customers who took the lead with legal transactions in 2017 in three key areas.
1. Greater focus on the law firm – client experience.
Our customers were able to use Doxly to improve the client experience and stay ahead of the competition in 2017. Firms and their clients want transparency throughout the entire transactional process. They also want easy and consistent communication and collaboration. The 2017 Clio Legal Trends Report found that 23% of consumers prefer to use technology to share legal documents with their lawyer because it provides a secure and simple working experience. That number bumps up to 30% when you consider just millennials – who will become more frequent consumers of legal services in the coming years.
2. More innovation in efficiency.
We helped legal teams close deals more efficiently in 2017. This is important when you realize that 94% of respondents to Altman Weil’s 2017 Law Firms in Transition Flash Survey said a focus on improved practice efficiency will be a permanent trend. With only 49% of law firms reported they have significantly changed their approach to the efficiency of legal services delivery, there is much work to be done. I’m proud to say that our customers are among those taking the lead in implementing efficient technology solutions.
3. Cutting non-billable hours through automation.
Legal teams saved more than 53% of administrative time focused solely on creating signature pages through Doxly, allowing them to focus on higher value billable work in 2017. A shockingly high number of lawyers’ time currently is devoted to non-billable hour tasks, according to the Clio 2017 Legal Trends Report, with the average law firm missing out on nearly 6 hours of billable time every day. This means that very few firms were able to recoup those lost billings. We’re proud to see our customers using technology to reduce non-billable work and to capture the value they bring to each deal.
On behalf of the entire Doxly team, we’re proud to say that we won together with our customers this year. As you close the books on 2017, remember to take a moment to look back on what you and your firm have accomplished. I hope that you will pause to reflect on your achievements, and to consider how you can do more for your clients in 2018. I know we will.