Salt Lake City, UT, May 16, 2024 (GLOBE NEWSWIRE) -- Filevine, the leading legal practice management platform, today announced record results for the first quarter of 2024, fueled by strong customer growth and significant product enhancements to its bespoke artificial intelligence (AI) suite and integrated timekeeping, invoicing, and payment processing solutions.
Breaking Client Acquisition Records
Filevine achieved remarkable results in the first quarter of 2024. The all-in-one legal work platform welcomed hundreds of new customers, setting a new quarterly record for client acquisition. This impressive growth was complemented by an over 50% year-over-year increase in annual recurring revenue (ARR), demonstrating Filevine's strong top-line growth and ability to retain and expand its customer base. In addition to strong financial performance, Filevine made significant strides in product innovation during the quarter.
"We're not just building software, we're changing how law is practiced," said Ryan Anderson, Filevine Co-Founder and CEO. "The success of this quarter shows that Filevine continues to help lawyers solve their biggest challenges, every day."
Bringing Zero-Shot Technology to Immigration Law
Among the AI products receiving feature enhancements in Q1 was Filevine’s immigration application, ImmigrationAI®. ImmigrationAI leverages artificial intelligence to streamline the entire experience for both lawyers and their clients. In a cutting-edge process called zero-shot learning, the platform can scan and extract key details from any identity document, across any language, to save valuable time and minimize errors. ImmigrationAI translates data in over 170 languages and extracts data to automatically populate relevant forms, allowing attorneys to serve a broader client base and expedite the processing of applications. ImmigrationAI® is already proving its worth with over 4,100 filings processed to date. Users report substantial time savings and a boost in client satisfaction thanks to the platform's accuracy and ease of use.
"Immigration lawyers are deeply committed to their clients, but they are overburdened with paperwork," said Filevine's Legal Futurist Emily Lippincott. "By taking over laborious administrative tasks, ImmigrationAI frees them up to focus on providing more personalized service to their clients."
Enhanced Billing Features and Payment Processing
Filevine continued to cement its position as an all-in-one legal practice management platform with enhanced time tracking, billing, and payment processing features. Attorneys and their teams can maximize billable hours through intuitive, integrated timekeeping that seamlessly connects to cases within Filevine's platform.
With seven different ways to track time when and where work happens, Filevine has optimized the platform for professionals to manage their schedules for increased profitability and productivity. Users have unlocked new efficiencies in their practice through features that allow for quickly switching between timers, tracking billable hours from email, adding LEDES codes, and avoiding errors through accurate rates and financial management.
Customers also benefit from at-a-glance reports revealing billable trends, overdue payments, and overall firm billing performance to maximize financial awareness. Without ever leaving the platform, professionals can complete the billing cycle with Filevine’s integrated secure online payment processing. From timekeeping through payment collection, Filevine enables attorneys to manage client billing within one streamlined workflow, providing insights for better financial management along the way.
Industry Recognition and Customer Satisfaction
Filevine's commitment to innovation earned it recognition on prominent software review sites. In Spring 2024, Filevine earned nearly a dozen G2 awards, including being named Momentum Leader, Leader for Legal Case Management Software, #1 in Usability, and #1 in User Adoption. Filevine maintains outstanding ratings of 4.8/5 on G2 and 4.6/5 on Software Advice and Capterra, based on user reviews of Filevine's product, functionality, ease of use, value for money, and customer support.
The launch of Live Help, Filevine's new, hands-on video support model, also drove elevated customer satisfaction. Filevine experts hosted nearly 11,000 video calls in Q1, driving issue resolution in real-time.
“I love the immediate gratification of a Zoom meeting with a live person who can diagnose, treat, and free me up to do other things, rather than waiting on hold or explaining to a chat bot,” said Kathy Harrington Sullivation of Kat Does IT LLC. “Great experience.”
With its latest AI breakthroughs, enhanced payment processing, and continued investment in the customer experience, Filevine enters 2024 strongly positioned to transform the modern practice of law.
About Filevine
Filevine is changing the way legal work gets done for law practitioners and their clients. As the leading legal operating system, Filevine is dedicated to empowering organizations with tools to simplify high-stakes legal work. That is why Filevine now offers a full suite of AI-powered solutions built with the legal user in mind. Powering everything from lead intake and e-signatures, to document assembly and case management, to timekeeping, billing, payments and business analytics, Filevine is used by several thousand law firms and legal teams daily to deliver excellence. Filevine is recognized on the Deloitte Technology Fast 500 and Utah Business Fast 50 lists, is a Top Workplace USA winner, and is among the fastest-growing companies on the Inc. 5000 list.
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- Filevine kicks off 2024 with record customer expansion, financial growth, and product development
- Filevine recognized by users as leading Legal Case Management Software in Spring 2024
