iManage, the company dedicated to transforming how professionals work, today announced findings of a new, commissioned study conducted by Forrester Consulting which analyses the Total Economic Impact™ (TEI) and benefits realised by corporate legal departments deploying iManage Work for email and document management.
The study concludes companies attained an ROI of 378 percent over a three-year period, with iManage paying for itself in less than 6 months.
The independent TEI study assesses the benefits, costs, and risks associated with deploying iManage for modern document and email management. It is based on in-depth Interviews and data collected from iManage enterprise legal customers from industries including financial and professional services, IT, insurance, media and restaurants. To create a framework to quantify benefits, Forrester designed a composite organisation modelled on the aggregate results of interviewed customers. The model measures a three-year ROI based on a composite enterprise legal department of 200 iManage users. Key three-year risk-adjusted benefits include:
One customer, a legal operations and global technology manager, from a global restaurants brand, interviewed for the study told Forrester, “Much of the time people spent trying to get information in and out of our content repository was essentially refunded and can be applied to higher-value activities. And the frictionless user experience has really inspired adoption. iManage clearly spent a lot of time figuring out how lawyers like to work.”
The study also identified additional benefits from leveraging iManage Work in legal operations:
“iManage remains the most used document and email management system in legal departments today,” said Dan Carmel, CMO, iManage. “This research rigorously quantifies what users have been telling us for years; that iManage makes them more productive, and less frustrated in delivering high-quality advice and guidance within their organisations while maintaining the highest levels of security and information protection. By dramatically reducing email clutter and content confusion. iManage delivers impactful, ROI while contributing to improved business outcomes and greater operational agility.”
Half of the customers interviewed also use iManage across other departments including business affairs, finance and accounting, although these users are not addressed by this study. For organisations whose product is knowledge work, iManage delivers technology and solutions that provide competitive advantage – connecting knowledge workers and teams to the information they need, when they need it. The complete study, The Total Economic Impact™ of iManage Work, is available for complimentary download here.
iManage is the leading provider of work product management solutions for legal, accounting and financial services firms and the corporate departments they serve worldwide. Every day iManage helps professionals streamline the creation, sharing, governance and security of their work product. Nearly 3,000 organizations around the world—including more than 1,800 law firms—rely on iManage to help them deliver great client work. Headquartered in Chicago, iManage is a management-owned company.
Copyright © 2019 Legal IT Professionals. All Rights Reserved.