By Denise Farmer and Clio -
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The legal practice management software company that recently announced record-breaking funding is committed to providing affordable solutions to Australian lawyers.
Clio is the world’s leading provider of cloud-based legal technology. With 150,000 customers and the approval of over 100 bar associations and law societies worldwide, it’s now fast becoming a preferred solution for law firms in Australia. With the company’s recent, record-breaking funding announcement, Clio is investing heavily in new research and innovations to open up opportunities for Australian law firms and their clients.
With Clio, legal professionals have the tools to manage their firm in a way that is scalable, reliable and efficient. At the same time, Clio allows lawyers to work remotely and at a much lower cost—with no lock-in contracts—compared to other solutions available in Australia.
As part of its recent strategic alliance with the Law Society of NSW, Clio is certified for trust accounting, which gives firms the ability to improve their systems in full compliance with professional rules.
Recent recognition and funding announcement
Founded in 2008, Clio has been at the forefront of legal innovation, driven by a mission to transform the legal industry by providing lawyers with the tools they need to better serve their clients. This August, Clio announced its inclusion in the Forbes 2024 Cloud 100, the definitive ranking of the top 100 private cloud companies in the world in partnership with Bessemer Venture Partners and Salesforce Ventures. This recognition came on the heels of Clio’s historic Series F funding announcement, having raised US $900 million, based on a US $3 billion valuation. The investment round was led by New Enterprise Associates and marks a significant milestone in the company’s growth and expansion.
“This historic raise was heavily oversubscribed, further demonstrating the overwhelming demand and confidence in Clio’s future,” said Jack Newton, CEO and Founder of Clio. “I’m thrilled to embark on this journey with NEA and our group of exceptional investors. The Clio operating system is the undisputed platform of the legal technology sector, engineered to not only meet but anticipate future industry demands. We are pioneering this future for our customers, driven by our mission to transform the legal experience for all. Our commitment to delivering unparalleled value propels every decision we make, and we are inspired by the massive opportunities ahead.”
Strategic Alliance with the Law Society of NSW
One of the most notable developments in Clio’s expansion in the APAC region is its recent strategic alliance with the Law Society of NSW. This alliance is a testament to Clio’s commitment to supporting legal professionals worldwide and underscores the company’s role as a trusted partner in the legal community. Certified for trust accounting by the Law Society of NSW, Clio gives law firms better oversight and control of how they manage client funds in accordance with industry rules. This is in addition to benefits that include improved office efficiency, enhanced client management, and streamlined administrative processes, all of which ultimately raise the quality of legal services of firms using Clio.
Clio’s commitment to empowering legal professionals is reflected in the feedback from its diverse and global customer base. Legal practitioners from solo practitioners to large firms have lauded Clio for its ability to simplify complex processes, improve client communication, and provide actionable insights through data.
Success with Clio’s easy-to-use, all-in-one software (with no lock-in contracts)
Clio provides price-friendly solutions for solo and smaller firms and the flexibility of no lock-in contracts, which is a huge benefit to lawyers practising in Australia.
Ian Aldridge, founder of Progressive Legal in Sydney, shared his experience with Clio: “Clio has been one of the many parts of the business that helps achieve our objectives. It has made a fundamental difference to how we deliver legal services in a timely manner. I’m so glad I found Clio when I did, and I don’t know what we would do without it now.” Progressive Legal uses the combined powers of Clio Grow and Clio Manage to provide a superior client experience—from lead management all the way to payments. With thousands of incoming enquiries and clients needing onboarding support, Clio Grow has helped Progressive Legal track leads and easily manage client intake.
From solo firms to mid-sized and beyond, Clio caters to firms of all shapes and sizes. Offering both case management software and a client relationship management (CRM) system for law firms, Clio is flexible and easy-to-use and can transform how your firm works.
New insights into legal trends for law firms
Each year, Clio produces an annual Legal Trends Report, which provides invaluable insights into the state of the legal industry, highlighting key trends and challenges that legal professionals face. The report is based on data collected from tens of thousands of legal professionals and offers a comprehensive overview of the current legal landscape.
The latest Legal Trends Report revealed several important trends, including the growing demand for remote legal services, the increasing importance of client-centered practices, and the need for law firms to adopt technology to manage crucial billing workflows to remain competitive.
According to the report, even though solo lawyers may find themselves working just as much as (or even more than) lawyers at larger firms, less of their time is put towards actual billable hours. For example, in 2022, the average utilisation rate for solo lawyers was just 25 per cent, which amounts to just two hours of billable work each day. In comparison to non-solos, with a utilisation rate of 36 per cent, lawyers at these firms put in an average of 2.9 hours of billable work each day. For the 240 working days in 2022 (assuming at least two weeks of vacation), lawyers working at larger firms put in 211 more billable hours than solo lawyers.
With Clio’s legal billing software, law firms can simplify and streamline their billing processes, ensuring better accuracy and efficiency. With features like automated time tracking and customisable invoices, Clio enables legal professionals to manage their billing seamlessly from start to finish. For example, Clio allows firms to create detailed and professional invoices with just a few clicks, track billable hours effortlessly, and offer clients flexible payment options. By automating routine tasks and centralising billing information, Clio not only saves time but also enhances cash flow and improves the overall client experience.
Remote work with cloud-based technology
Remote working is also a trend we’re seeing that has become a permanent fixture in the legal industry, offering greater flexibility and improving employee well-being. This shift to remote ways of working (including hybrid models) also allows law firms to access a broader talent pool no longer limited by geographic constraints. According to Clio’s 2022 Legal Trends Report, 49 per cent of lawyers prefer working from home, and 45 per cent favour virtual client meetings. Interestingly, 39 per cent also prefer virtual meetings with colleagues.
Before the pandemic, lawyers spent about two weeks per month in the office, a number that sharply declined during 2020 and has since remained lower than pre-pandemic levels. Client preferences have also evolved, with 35 per cent now favouring virtual meetings—up from 28 per cent the previous year—highlighting the importance of adopting technology like Clio that supports remote work and meets the expectations of modern clients. You can learn more and gain valuable insights on creating a secure and efficient remote or hybrid workplace at your firm with Clio’s free on-demand webinar, which looks at how lawyers and their firms can work remotely.
Looking forward with Clio
As Clio continues to innovate and expand its product offerings, the company remains focused on its mission to transform the legal experience for all. The recent Series F funding will be instrumental in fueling Clio’s growth, enabling the company to further develop its platform, deliver new capabilities, and invest in the research and development needed to stay at the cutting edge of legal technology.
With the legal industry undergoing rapid change, Clio is well-positioned to lead the way. The company’s commitment to customer success, combined with its dedication to innovation, and its affordable pricing—with no lock-in contracts—ensures that Clio will continue to be a trusted partner for legal professionals around the world.
To learn more about Clio:
Book a free demo
Start a free 7 day trial (no credit card required)
Watch our free, on-demand webinar on how law firms use Clio
Visit our website: www.clio.com/au/
Denise Farmer is the General Manager APAC at Clio. Joining Clio in January 2023, Denise brings over 15 years of experience in legal technology, including leadership roles at LexisNexis, and was most recently General Manager of Practitioner Services at Sympli.
