iManage Strengths, Domain Expertise, and Key Differentiators
iManage transforms how professionals in legal, accounting, and financial services get work done by combining artificial intelligence, security, and risk mitigation with market-leading document and email management. iManage automates routine cognitive tasks, provides powerful insights, and streamlines how professionals work while maintaining the highest level of security and governance over critical client and corporate data.
In August 2021 iManage, the company dedicated to Making Knowledge Work, today reported strong growth in the company’s cloud services business. Organizations modernizing 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.
iManage Recent Developments
In August 2021 iManage, the company dedicated to Making Knowledge Work, today introduced the availability of its risk management products in the iManage Cloud, beginning Q4 2021. The choice of deployment model, whether on-premise or within iManage Cloud, provides flexibility that ensures legal and professional services organizations a best-class solution for sophisticated, secure risk management. The dual offering allows organizations to leverage their preferred deployment, licensing, and maintenance model tailored to their unique business requirements. The approach also provides a streamlined migration path for organizations that want to move from on-premise to cloud-based solutions at their own pace, rather than forcing organizations to adopt change before they are ready.
"The addition of iManage Conflicts Manager and iManage Business Intake Manager to the iManage Cloud presents an incredible opportunity for professional services firms globally,” said Joy E. Spicer, VP of Risk Management at iManage.
Products available as part of this strategic dual offering include iManage Conflicts Manager, which provides comprehensive conflicts of interest search and clearance capabilities, and iManage Business Intake Manager, which provides cradle-to-grave workflows surrounding clients and engagements. The products enable firms and their professionals to work faster, more accurately, and more efficiently by quickly identifying potential business conflicts and mitigating regulatory, financial, and reputational risk from the point of business inception throughout the client and matter/project lifecycle. Risk management products from iManage can function alone or can be integrated into its broader knowledge work platform. Native integration with iManage’s flagship product for document and email management, iManage Work, provides firms with seamless connectivity to all documents relevant to the firm’s risk management discipline. This includes documents such as outside counsel guidelines, engagement letters, and more within the firm’s operational workflows supporting its conflicts clearance activities. Further, iManage Conflicts Manager provides the ability to track key terms and client obligations inside these documents, ensuring traceability and visibility into contractual obligations. iManage Conflicts Manager and iManage Business Intake Manager are the latest products in the iManage knowledge work platform to be offered as cloud services, joining the rest of the iManage security, risk, and governance portfolio including, iManage Security Policy Manager, iManage Records Manager, and iManage Threat Manager. iManage provides a thorough and layered approach to managing security, privacy, and risk without impacting access or knowledge flow to customers or their clients.
In 2020, iManage introduced the availability of iManage Records Manager (IRM) 10.1, the newest version of its industry-leading Information Governance and Records Management product.
In December 2020, iManage launched new platform enhancements that deliver on its ongoing commitment to providing a modern, feature-rich, SaaS-based Work Product Management Platform to improve knowledge professional productivity and security. Driven largely by user feedback, the newest version of iManage improves the user experience, delivers increased organizational agility, and empowers iManage users to productively manage remote and mobile work, all in a single, integrated platform. iManage customers continue to benefit from the industry’s most advanced security, risk, and governance capabilities. In today’s largely virtual work environment, simple, streamlined access to the right knowledge when and where users need it has become even more essential. Distributed teams cannot just simply stop by each other’s desks to check status or ask a question of experts in the office. The latest Work 10 release delivers usability improvements, new workflows, advanced search, and offline capabilities that reduce organizational silos and maintain a single source of truth across customers’ data, while keeping distributed teams connected and in synch.
iManage Mergers and Acquisitions (M&A) Activities
In August 2020 iManage has acquired Closing Folders, the market leader in legal transaction management (LTM). The acquisition uniquely enables iManage to deliver automation and governance over transactions and deal documents from creation to closing. Transactions make up a large portion of law firm matters and legal department work. The closing processes associated with them are typically manual, error-prone, expensive, and complex. They require the coordination of hundreds of documents, frequent revisions, and numerous signatures and tasks across many parties – often under tight timelines. And clients are frequently frustrated by insufficient visibility into closing status and processes. Together, iManage and Closing Folders deliver powerful capabilities to ease the burden of document and transaction management from end to end. The innovative SaaS offering is intuitive and requires no deployment services – making it both easy to adopt and transformational for law firms and organizations of all sizes. Closing Folders will operate as a product-specific division of iManage. Co-founders Sahil Zaman, who served as Closing Folders President, and Gordon Cassie, the company’s CTO, will continue to lead day-to-day business and technology direction for iManage Closing Folders.
iManage Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying iManage 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 iManage 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 iManage RAVN Insight, iManage Cloud customers.
Ownership: - x
Number of Employees: 750
Key Verticals: Banking and Financial Services, Construction and Real Estate, Consumer Packaged Goods, Distribution, Government, Healthcare, Insurance, Leisure and Hospitality, Life Sciences, Manufacturing, Media, Professional Services, Retail,
iManage Key Enterprise and Cloud Applications
iManage RAVN Insight, iManage Cloud
iManage Revenues, $M:
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|Total Revenues, $M||Subscribe||Subscribe||Subscribe|
|Enterprise Applications Revenues, $M||Subscribe||Subscribe||Subscribe|
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* 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.
iManage Revenue Breakdown By Type, $M:
|Type||License||Prof. Services||Hardware||Support & Maintenance||SaaS||PaaS||IaaS||Other (Non Enterprise Application Revenues)||Total|
|% of Total Revenues||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||100%|
iManage Enterprise Applications Revenues By Functional Markets, $M:
iManage Enterprise Applications Revenues By Verticals, $M:
iManage Revenues By Region, $M
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iManage Direct vs Indirect sales
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iManage Customers - Breakdown by Geo, Size, Vertical and Product
No. of iManage Customers: 3700
No. of iManage Enterprise Applications Customers: 3700
No. of iManage Cloud Customers: x
No. of iManage Cloud Subscribers: 1 milion
Over one million professionals at over 3,700 organizations in over 65 countries – including more than 2,000 law firms and 500 corporate legal departments – rely on iManage to deliver great client work. Organizations using iManage Cloud have increased by more than 100 percent for the second year in a row. Recent customer wins are: Womble Bond Dickinson, Keker, Van Nest & Peters, Interlinks, Baker McKenzie, Binder Grösswang, Neal, Gerber & Eisenberg, Gilchrist Connell and many others.
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.
iManage Market Opportunities, M&A and Geo Expansions
iManage investment in its Cloud, Platform, and Customer Success Program has resulted in double-digit customer growth across multiple segments. The overall customer base stands at 3,500 customers and over one million users globally; market share in key segments includes 78% of the global 100 law firms, 21% of the Fortune 500, and over 1,900 small and medium-sized law firms.
In September 2018, iManage acquired Elegrity, a provider of risk and compliance management software and solutions. This acquisition enables iManage Work Product Management to efficiently and comprehensively manage key risk and compliance processes from client intake throughout the client and matter lifecycle. Elegrity will operate as a business unit of iManage, led by Joy E. Spicer, CEO and Founder of Elegrity.
iManage Risks and Challenges
Changing in management team could lead to a different company strategy.
iManage Ecosystem, Partners, Resellers and SI
iManage partnered with Cognia Law to deliver meaningful and practical Artificial Intelligence (AI) solutions to organizations globally. The iManage RAVN engine, combined with Cognia Law’s professional consulting and managed legal services expertise, will help law firms, in-house legal departments, and financial institutions to deploy AI solutions that solve their real-world business problems, help mitigate risk, and deliver quantifiable value.
In October 2020 iManage made a strategic partnership and integration with Foundation Software Group, developer of the only firm intelligence platform for law firms, to extend the capabilities of iManage Knowledge Unlocked, powered by RAVN, for lawyers, legal teams, and other professionals. The partnership leverages the innovation of two industry leaders enabling mutual customers to access the rich, comprehensive metadata in Foundation directly from Knowledge Unlocked, enriching enterprise search results. The development of a new connector streamlines integration with data that has been aggregated and augmented in Foundation, making it available to the powerful Knowledge Graph within Knowledge Unlocked, which surfaces connections between content, concepts, and people to uncover hidden experts, similar matters, and best practice content. The connector allows automated access to and easy filtering of additional data sources to securely deliver search results with increased relevancy, contextual accuracy, and speed. The combination of iManage and Foundation accelerate legal and professional services firms’ ability to zero in on the right information at the right time, improving firm performance and driving better decision-making by lawyers and other professionals. The combined capabilities of the two companies take advantage of deep knowledge stores that often reside in silos within organizations. The robust metadata derived from existing systems help to enhance critical connections and build relationships between content, people, and matters – unleashing new insights and best practices across a wide breadth of use cases.
iManage Cloud Infrastructure Insights
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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).
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