Anaqua: Here to Help You Thrive Amid a Challenging Market
Innovation
October 22, 2021
The ‘rules’ of the practice of law—driven by a process of developing guidelines on which you can run your business and conduct yourselves—have been overrun. The sheer velocity of the evolution of technology has left law firms struggling to keep up. Coupled with the vast uncertainty created by COVID-19 and the fact that attorneys are trained to practice law and not run a business; the industry is challenged in new ways to respond.
I’ve been in the legal field for more than three decades, and the combination of all these factors has made today’s market the most complicated and challenging market that I’ve ever seen. That’s not to say there aren’t opportunities. The pandemic has created opportunities for the legal sector that I didn’t foresee a few years ago. Take cyber security, business efficiencies, and technology as prime examples. This trio of issues has always been important, but their significance has been exacerbated by the myriad issues we’ve been confronted with during lockdown and the reopening of the economy.
Standing out from the crowd
Amid a pandemic, multiple lockdowns, and the staggering re-opening of the economy, we’ve always searched for ways to address clients’ escalating needs. What we see is given the pressures of the current environment it can be difficult for clients to define what those needs are. Faced with the pressure of short-term demands, building a long-term business plan in the current landscape can prove strenuous at the best of times, and impossible at the worst.
Data suggests that many firms are considering which path to take: do we just replace old technology, or do we take a leap into something that we haven’t done before? Providing advice for firms engaging in this process is always a challenge for us, but one which we gladly embrace. I’m incredibly proud of how our Law Firm Business Unit has gone out and listened to existing clients and the marketplace at large to delve deeper into the wants and needs of our clients.
Anaqua’s DNA is built on this collaboration with clients to create innovative solutions. We want that face-to-face experience; we want to talk to people and understand their concerns. Personally, lifting of restrictions has allowed me to get out and about, meeting new and existing clients to figure out how we can mutually progress together. Nowadays, many IP management vendors try to undertake one-off deals, but Anaqua is moving the paradigm for the industry and listening to customers to develop solutions that solve the challenges the industry is facing.
Some firms have decided to hang on to old technology, refusing to invest in their business, and selling the same old way. Unfortunately, that type of thinking doesn’t align with the way their corporate clients’ expectations.
If I was purchasing technology on behalf of a law firm, I would not be considering a short-term fix but a solid investment. I’d be asking the question: am I going to get the very best in terms of security, integrity, and quality, or am I more interested in saving a few dollars and hoping nobody finds out? You can guess what the answer should be.
Investment and innovation
Safeguarding our clients and meeting the needs of the market has always been central to the Anaqua ethos. Customers continue to drive the product roadmap, supported by advancements in technology and business practices.
Over the past two years, Anaqua has made a number of phenomenal acquisitions namely OP Solutions, Quantify IP, Actio IP, and Connectivity (formerly SeeUnity). These companies’ bolster our ability to address whatever needs a law firm customer may have whether it’s automating docketing, IP cost estimation, or support with foreign filing.
The acquisition of O P Solutions and its intuitive automated docketing software PATTSY WAVE is a prime example of the Anaqua strategy. Immediately after acquiring the firm, we embarked on promoting the product, while simultaneously working hard to update the software. Less than a year after the acquisition, we executed all our plans. Armed with a new stylish interface and integrated with industry-leading patent analytics provided by Anaqua’s AcclaimIP into PATTSY WAVE, our existing clients can see the return on their investment with a world-class IP management solution.
The launch of our Law Firm Business Unit in June last year was the dawn of a new age for Anaqua, underscoring the company’s commitment to the law firm market. We value our law firm clients, and we want to help. Whether that’s facilitating communication with clients or providing them with more value-added services, our business unit is constantly innovating. Essentially, we want to help law firms build more efficiencies into the business process, so they can run the firm more like a modern business.
Written by: Dominic Leo, VP & General Manager, Law Firms
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