Continental Europe News
Contractbook Suits is the new digital platform for the legal industry. The company behind has set out to digitalize the industry and pave the way for a new type of lawyer. With a multi-million investment and a solid user-base they have taken the Danish legal industry by storm.
A digital platform for lawyers
It has been a busy summer for CEO Niels Martin Brøchner and the team behind the Danish legal tech company Contractbook. They have introduced the new digital SaaS platform for lawyers Contractbook Suits, developed an abundance of new features, and within the first month they started dialogues or received hard commitments from half of the 50 biggest law firms in Denmark. With the first meetings set up in U.K, they are ready to imitate the model in the rest of Europe as well.
“The lawyers are way less conservative than I expected them to be. In fact, they see our digital tool as valuable supplement that can boost their productivity, increase their transparency and in the end make them more client-centric,” Brøchner says. Based on the current usage he even expects Contractbook Suits to pave the way for whole new kind of lawyer.
Since 2016, Contractbook has provided digital contract management to modern businesses, mainly SMB’s. Their platform enables users to create, sign and store their legal documents in one safe place. Contractbook Suits is an advanced expansion of the current platform which is tailored for the legal industry. Here, lawyers and alike are able to manage and monitor their client’s legal affairs from one central account.
“We have been collaborating with Contractbook, used their platform and developed documents for common projects for a while now. I see them as one of the most innovative players in the legal industry, since Contractbook Suits is everything we are looking for in new digital technologies,” says one of the new users, Martin Von Haller Grønbæk, partner in Bird & Bird, Denmark.
Earlier this year Contractbook received a multimillion investment from a prominent group of investors, and they have won more than 25.000 users from 50 different countries. Contractbook Suits has been on the market for a few months, but it has already taken the Danish legal industry by storm.
According to Niels Martin Brøchner, the key to success has been to collaborate with the lawyers and listen to their needs: “We want to underpin the lawyers and their workflow - not replace them. Therefore, we have developed many of the new functions in close collaboration with the lawyers and their clients.”
When the GDPR enforced in May, Contractbook chose to embrace the new regulation and focus their attention on data ethics. With Contractbook Suits their aim is the keep doing things the right way in order to make digitalisation easy, efficient and transparent: “The media often focuses on hyped AI-technologies that wants to disrupt the future of legal. It’s all good but for now, the future is the future. In the meantime, we want to focus on the basics. Let’s make the legal industry more efficient as it is.
In fact, the tendency in Denmark is that the lawyers wish to adopt to the AI-future by beginning with a binary product like ours,” Brøchner elaborates.
Furthermore, Niels Martin Brøchner thinks that Contractbook Suits can innovate the way lawyers work and develop new business models for the industry: “By having the complete overview of their client’s legal documents, the lawyers are able to have a more proactive and customer-centric approach. They can deliver a holistic service that wasn’t possible before. We allow them to easily make new products like a subscription service where the clients receive a full service that is anticipating as much as it is recovering.”
The goal is to become a normal in the Danish market within 2018. In the beginning of 2019, Contractbook is aiming to expand to the rest of Europe: “We can see that the market is mature for a digital product like ours, the lawyers are ready to get suited for the future and our platform is tailored for it,” says Niels Martin Brøchner.
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