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After notching 72 per cent revenue growth in FY20, legal Software as a Service (SaaS) group Lawcadia is striving for new heights with a product powered by machine learning.
The Brisbane-based company is already Australia's leading provider of matter and spend management solutions for in-house legal teams and their law firms, but its platform has received a boost thanks to an intelligent engine 12 months in the making.
Lawcadia Intelligence is focused on logic-based procurement, workflow and task automation to help in-house legal teams gain greater control over spending and internal processes, supported as well by improved plugin architecture for rapid product development.
Co-founder and CEO Warwick Walsh (pictured left) says the new engine was designed to help cater to the individual needs of every in-house legal team and law firm, from functionality and processes to integration with existing systems.
"Efficiency and control is a key focus for in-house legal teams, whilst law firms are seeking solutions that embed client relationships and add tangible value to their service offering," he says.
"Technology is crucial to success in these areas, however many ideas and initiatives fall over because there is too much cost and complexity in customisations and getting different systems working together or alongside each other."
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He adds the new platform has enabled Lawcadia to meet these requirements without the large implementation costs, but also retaining security.
"We are incredibly proud of our team and are excited to see where our clients can take our platform and what problems they can now solve using our technology," he says.
Co-founder and chief marketing officer Sacha Kirk (pictured right) says Lawcadia now has 150 law firms on its books, and within those firms there has been 28 per cent user growth over the last year, while the growth in corporate legal and government clients has been 41 per cent year-on-year.
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