Caret ( formerly AbacusNext) Strengths, Domain Expertise, and Key Differentiators
AbacusNext specializes in facilitating the growth of firms with rigorous security and compliance requirements through the provision of turnkey technology solutions meticulously designed for compliance readiness. This empowers clients to harness the benefits of cloud computing without grappling with the complexities and costs associated with independently managing intricate IT infrastructures. As a comprehensive solutions provider, its extensive portfolio encompasses virtual desktop (DaaS), private cloud, case management software (CMS), email hosting services, security endpoint protection, business continuity (BCP), and on-premise solutions.
Caret ( formerly AbacusNext) Recent Developments
In March of 2023, CARET introduced its latest subscription service, Enterprise Advance, as an enhancement to CARET Legal's suite of offerings. This new addition incorporates sophisticated document automation functionality utilizing HotDocs technology. Seamlessly integrated into the CARET Legal platform, this advanced automation empowers legal professionals to efficiently generate bespoke, precise templates and documents within significantly reduced timeframes. By streamlining document creation processes, it enables legal teams to allocate more attention to client matters and core legal activities.
In October 2023, AbacusNext, the provider of Zola Suite, announced its rebranding as CARET Legal. This strategic move reflects CARET Legal's commitment to delivering comprehensive solutions tailored to the needs of legal professionals. With a focus on automating essential processes, CARET Legal empowers legal practitioners to effectively manage every facet of their practice.
Caret ( formerly AbacusNext) Mergers and Acquisitions (M&A) Activities
In March 2021, AbacusNext disclosed that it had been acquired by the private equity firm Thomas H. Lee Partners, marking a significant transaction whose financial details were not publicly disclosed. Formerly under the ownership of private equity firm PSG, this transition places AbacusNext within THL's extensive and diversified investment portfolio, which encompasses companies ranging from Auction.com to Guaranteed Rate.
Caret ( formerly AbacusNext) Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Caret ( formerly AbacusNext) applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Caret ( formerly AbacusNext) and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified CARET Legal, HotDocs by Caret, Abacus Payment Exchange (APX), AbacusLaw, Amicus Attorney, Amicus Cloud, OfficeTools by Caret customers.
Caret ( formerly AbacusNext) Overview
2010 Jimmy Durante Blvd Suite 130
Del Mar, CA, 92014, United States
1-800-726-3339
https://www.getcaret.com/
Ownership: - Thomas H. Lee Partners
Number of Employees: 525
Functional Markets: Content Management, ERP Financial, ERP Services and Operations,
Key Verticals: Banking and Financial Services, Federal Government, State and Local Government, Public Safety, Life Insurance, P&C Insurance, Professional Services,
Caret ( formerly AbacusNext) Key Enterprise and Cloud Applications
CARET Legal, HotDocs by Caret, Abacus Payment Exchange (APX), AbacusLaw, Amicus Attorney, Amicus Cloud, OfficeTools by Caret
Caret ( formerly AbacusNext) Revenues, $M:
| Type/Year | 2022 | 2023 | YoY Growth, % |
|---|---|---|---|
| Total Revenues, $M | Subscribe | Subscribe | Subscribe |
| Enterprise Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
| Cloud Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Caret ( formerly AbacusNext) Revenue Breakdown By Type, $M:
Caret ( formerly AbacusNext) Enterprise Applications Revenues By Functional Markets, $M:
Caret ( formerly AbacusNext) Enterprise Applications Revenues By Verticals, $M:
Caret ( formerly AbacusNext) Revenues By Region, $M
| Region | % of Total Revenues | 2023 Total Revenues, $M | 2023 Enterprise Applications Revenues, $M | 2023 Cloud Applications Revenues, $M |
|---|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe | Subscribe |
Caret ( formerly AbacusNext) Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
Caret ( formerly AbacusNext) Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified Caret ( formerly AbacusNext) Customers
No. of Caret ( formerly AbacusNext) Customers: 12000+
No. of Caret ( formerly AbacusNext) Enterprise Applications Customers: 12000+
No. of Caret ( formerly AbacusNext) Cloud Customers: x
No. of Caret ( formerly AbacusNext) Cloud Subscribers: 1 milion
AbacusNext serves a global clientele exceeding more than 12,000, inclusive of prominent entities such as the Law Office of Carlos A. Medina, PLLC, Harris Law, Collins Law Office, P.A, Truly Noble Services, Law, Inc., Bedard Law Group, P.C., H. Edwin Detlie, MDP Law, alongside numerous others.
Caret ( formerly AbacusNext) Market Opportunities, M&A and Geo Expansions
In September 2023, CARET Legal unveiled its newest innovation, Quick Summary, an advanced tool harnessing generative artificial intelligence (AI) to revolutionize the handling of legal documents by attorneys. Quick Summary expedites decision-making procedures while upholding precision, furnishing legal professionals with a pivotal asset to optimize their workflow efficiency. Furthermore, this feature operates within a secure, enclosed environment, ensuring that legal practices can harness AI capabilities confidently, devoid of associated risks.
In February 2021, AbacusNext presented Amicus Cloud, a cloud-based practice management solution that allows firms to access information about their practice 24/7 using any device from any location. The enhanced release of Amicus Cloud includes: The ability for firms to maximize cash flow by leveraging Abacus Payment Exchange (APX) to schedule client payments, Automatic organization of any document in its appropriate folder, making case information retrieval easier and Enhanced visibility into task and appointment information with instant previews, improving productivity.
Caret ( formerly AbacusNext) Risks and Challenges
The landscape of legal practice management applications has undergone significant evolution since Gavel&Gown's inception in 1993. The emergence of competitively priced alternatives from various cloud-based providers, coupled with Gavel&Gown's reliance on consultants, may potentially erode the attractiveness of Amicus Cloud. This is particularly pertinent given the consultants' vested interest in cloud sales profitability.
However, there are encouraging developments as Gavel&Gown has successfully transitioned 100,000 current user licenses from its traditional desktop version to Amicus Cloud. Completing the migration of the remaining 150,000 licenses will require additional time, as some users may still be operating on older versions reliant on legacy databases such as Visual Foxpro.
Caret ( formerly AbacusNext) Ecosystem, Partners, Resellers and SI
In February 2024, CARET Legal revealed its latest collaboration initiative, a comprehensive integration partnership bundle with NetDocuments, a renowned cloud platform recognized for enabling peak performance among legal practitioners. This strategic alliance streamlines workflow processes by consolidating vital data and functionalities into a unified interface, thereby mitigating redundancies and optimizing efficiency. As a result, legal professionals are afforded the invaluable resource of time, allowing them to concentrate on their core responsibilities with greater focus and effectiveness.
Caret ( formerly AbacusNext) Cloud Infrastructure Insights
Subscribe to read more about:
- Caret ( formerly AbacusNext) Public Cloud and Infrastructure (IaaS)
- Caret ( formerly AbacusNext) Platform (PaaS)
- Caret ( formerly AbacusNext) Application Delivery
- Caret ( formerly AbacusNext) Private Cloud and Data Centers
Research Methodology
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
For additional information on our methodologies, here's the link:
https://www.appsruntheworld.com/About Ushttps://www.appsruntheworld.com/taxonomy
https://www.appsruntheworld.com/FAQ
