Today, there’s a CLM software for almost every business, whether it’s small or an enterprise. It’s no surprise since contract management software increases productivity, saves time, automates tasks, improves contract management efficiency, and cuts costs.
Manual contract management requires a lot of time and effort. Research shows that companies lose 9.2% of their annual revenue due to ineffective document management. The average cost of a contract varies from $6,900 for simple contracts to $49,000 for complex ones. And as the number of documents rises almost everyday, so do management costs. Consequently, switching to a contract lifecycle management system is no longer an option, but rather a necessity.
The Problem
Choosing a solution is a big deal as there are many things to consider. It may be a hard undertaking since the CLM software market has become enormous with lots and lots of vendors. There are hundreds, if not thousands, of solutions to choose from that offer different functions, services, and prices.
However, a wide variety of options is not the only challenge. The other is finding out how much it will cost. If you google solutions, you’ll see a wide range of prices with the cheapest at less than $1/month. That seems pretty nice, but…
…the reasonable question regarding what you’ll get arises. Will it cover all your needs, or perhaps the price shown is only for some basic features like centralized storage? Most likely, you’ll need more than that.
Price is one of the most important aspects when you’re choosing the right CLM system and pitching this software to your stakeholders. Without knowing what it’s based on, you won’t be able to calculate the ROI.
The problem is that prices aren’t really visible. Quite often, when visiting a provider’s website, you have to book a demo to discover what their pricing is. This starts an endless sales cycle that you might not be ready for. The research process becomes multifold, often leading to an understanding that while the software might be great, you just spent hours on calls only to discover that it’s way out of your budget.
Revealing the Truth About What Exactly Shapes CLM Prices
Most of the factors that determine the price for a contract lifecycle management solution are related to the company’s size. This is reasonable considering that big enterprises usually have more complex workflows and customizations than small businesses. Below, we highlight 9 various aspects that influence the price of CLM software:
Knowing what the price of CLM software is based on will help you make a more informed decision when choosing one. These are the main factors that impact the price, but there are still other things you should be aware of. If you’re not, you may be in for a shock when you receive the final bill.
· Number of users. Some software pricing structures are based on the quantity of users. For particular solutions, these costs may impact the cost per month. That’s why enterprises usually pay significantly more for contract management software than smaller companies.
· Features. The simplest CLM solutions cover only one stage of the contract lifecycle. More complex platforms offer a wide variety of features, such as automation, reporting, analytics, template libraries, notifications, collaboration, and much more. But don’t fall for a million features. It’s better if the solution is scalable, so you can get additional features when your business needs them.
· Integrations. Some operational processes may need third-party integrations, such as. CRMs, eSign, and messaging apps. Some vendors charge for such integrations. That means the more integrations there are, the higher the price is.
· Storage. The amount of documents stored impacts the price. But besides size, additional capabilities like smart search may be charged separately.
· Security. Keeping data safe is a top priority for any business. Breaches may cost businesses millions of dollars and reputational losses. So while security may not affect the price of plans, companies that provide better, more reliable, and more robust security measures may be naturally a bit more expensive. But considering the potential losses from a security breach, it may be well worth the investment.
· Volume of documents. Generally speaking, the more documents you process, the higher the price. Some companies allow you to pick a plan that covers a certain number of documents, and if you exceed that number, you pay a bit more. This permits some degree of flexibility as you can start small and see what you need before scaling up.
· Number of workflows. Similar to volume, the greater the number of workflows or templates that need to be supported, the more you should expect to pay.
· Advanced tech. This could be the implementation of artificial intelligence, machine learning, or some other technology that provides a hand in completing work. But before you fork over the cash for AI, you’ll want to have a discussion about whether or not you really need it, as well as what are the costs and benefits for you.
· “A la carte”. By this, we mean the ability to mix, match, and combine any or all of the previously mentioned price factors. Companies usually price their services as a set, Combination of all or any of the above and less obvious costs, described below.
Hidden costs
The cost of CLMs consist of the essentials above. You can calculate it and the sum may seem acceptable. But that doesn’t mean it’s the final cost. It can be much higher because of additional fees you weren’t informed about.
The most common additional fees are charged for the following services:
Implementation. Configuring user accounts, setting up workflows, and automating contract templates may cost additional money. There are three standard approaches for implementation: 1) An implementation fee paid in addition to the software cost; 2) Implementation is included in the software cost; and 3) Implementation on your own (which is likely free, but may lead to unnecessary headache and stress).
Customization. Vendors often charge additional fees to customize a CLM to your needs. So, if you want to get something more than basic features, or if you simply need particular features for your existing workflow, you’ll have to pay more.
Team training. Most likely, your employees do not know how to use the new software. It takes time and effort to learn before they can start fully using it. CLM providers will help you with that, but some of them charge extra for educational meetups.
Customer support. If you don’t clarify the terms of this service, it may cost you an arm and a leg. Technical assistance can be provided completely for free, for a fee, or with conditions (i.e. only during business hours on weekdays).
Add-ons. Many vendors may offer essential business add-ons such as e-Sign for additional fees. Such details can make the invoice much bigger than what you expected.
Legacy data migration. If you want to avoid being forced to manage multiple storage systems, you’ll want to migrate your legacy contracts and data to the new system. However, this takes time and a bit of effort, and that usually means an extra fee.
When choosing and negotiating with a vendor, make sure to cover all the basics and find out if it’s included in the final price or not.
Starting Point
And once you do have the space in your budget, don’t rush for the cheapest, the most feature-heavy, or the most famous solution. You first need to understand your business’ CLM software requirements. Start by assessing how your company will use the software so that you know what needs it should cover.
To determine your requirements for a contract lifecycle management system, you should analyze your existing document workflow. There are some points you should consider first and foremost:
· The number of ‘everyday’ users. Think about all employees from different departments that will need access to the platform: sales, procurement, finance, and legal. Each one plays an important role in contract lifecycles.
· The number of documents. Conscientiously evaluate the current volume of contract flow in your organization and how many contracts you process. And don’t forget your legacy contracts, because some vendors charge for the amount of documents stored. This number will change, so consider what growth plan you may need. The good news is that some providers offer upgrades to a larger storage size if there’s a demand.
· Types of documents. This is important since it makes it easier for you to choose the features and solution’s necessary capabilities. For example, if you frequently work with large documents and need to quickly process them, it’s unlikely you’ll want a CLM that needs 30 minutes to do it.
· Cross-department collaboration. Usually, there are at least two departments involved in document creation. Analyze how your employees collaborate on contracts, how the redlining process goes, and what would you like to improve.
· Third-party collaboration. Frequently, contracts are negotiated with third parties. Consider how documents are being shared, how access is granted, and how the negotiation process proceeds. Documents may contain sensitive information, so it’s not only about collaboration, but also about security.
· Approvals. Analyze your approval process. It’s one of the longest stages of the contract lifecycle, and usually it involves many people and opinions, making it a real mess. If this sounds familiar, you’ll want a CLM that will allow you to check if all parties have completed their reviews and whose approval is still needed.
· Esignatures. Esignature software allows you to sign documents no matter where the approver is. If you need to add attachments to the contract, such as status information, recipient/sender information, delivery tracking, or signature progress, this service will prove useful.
· Metadata storage. Metadata usually refers to the basic information about a contract so that it’s easier to find and retrieve data. It may be the company name, creation date, document type, governing law, counterparty name, etc. If you work with a wide array of contract types, consider a solution that has the possibility of adding necessary metadata and advanced search.
These are the main things to consider when you decide to switch to a CLM platform. Without knowing a business’ essential needs, you run the risk of ending up with the wrong solution, which won’t make your professional life easier, but harder instead.
Wrapping Up
Every organization’s situation is unique to them, so some of the factors above will play a larger role than others. That’s why when you’re in the process of choosing a CLM solution, you should pay close attention to what’s essential for you.
AXDRAFT strives to respect not only the time of their clients, but also the time of potential clients. The team at AXDRAFT will always be available for consultation and help regarding whether or not certain software is a good fit for your organization. And, no holds barred, we’ll tell you if we’re not the right fit, so that you don’t waste time having conversations that lead to a dead end. But, should circumstances change, our door is always open.
Contract lifecycle management is designed to make your professional life easier, and finding the optimal solution shouldn’t be a hard task. To simplify matters, AXDRAFT will work towards coming up with the best pricing option that works for you. As we can accommodate the needs of any company, we always recommend starting small and scaling later. Should you have any questions, please feel free to reach out whenever is best for you.
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896 Views by Legal Desire September 16, 2022, 11:06 am inRead to Know
Are you running a legal firm? If so, then you probably know how hard it is to manage paper and digital documents here and there. And not to mention, you sometimes get lost while finding the information you need, significantly wasting your time. 
It’s due to a lack of proper legal document management. Without it, you’re putting your legal firm at risk, negatively affecting its efficiency when handling multiple tasks at the same time. It’s why it’s important to understand what legal document management is. 
In this guide, you’ll discover everything you need to know about legal document management. That includes its basic definition, key features, and importance in legal firms. So, feel free to scroll your buttons and read below to learn more.
 
What Is Legal Document Management?
As the name implies, legal document management is the practice of handling and storing legal documents. These may include letters, emails, reports, notices, licenses, and contracts.  
As you know, law firms deal with a vast ocean of paper-based and digital documents. So, they need an efficient system to help keep, secure, manage and track their files and documents.  

What Are The Features Of Legal Document Management?
An effective legal document management system consists of features to track the status of every document, from its creation to its storage and retrieval. Here are some of them you might want to consider when establishing a compelling legal document management system:
Legal document storage is a place where you can store your documents in an effective and organized manner. It can be on-premise or off-site, depending on the needs of a legal firm. On-premise document storage includes hard drives and file cabinets for digital and paper-intensive documents within the business property. And off-site document storage stores documents in a facility outside your premises—hence the name, including physical storage facilities and cloud-based storage solutions. 
Regardless, storage solutions should be protected from natural disasters (fire, flood, etc.) and cybersecurity issues (data breaches, threats, etc.).
Legal document management should comply with multiple agencies and government policies. It’s a must to promote data privacy and protection, regardless of on-site or off-site storage solutions. Thus, failure to do so may result in legal consequences.
Legal document management should allow you to search and retrieve documents without a fuss. With this, you’ll be more productive and efficient when working and dealing with multiple documents at the same time. And it can be achieved through a robust file organization or logical file naming system.
It’s a crucial feature of an effective legal document system. With this, you’ll be able to keep track of multiple versions of a specific document, as well as determine those responsible for editing that particular document.
Integration is the process of using multiple software solutions under one roof. It’s like a bridge between different tools, allowing you to be more time-wise and productive. Ensure your document management software can fully integrate with the tools you often use in your day-to-day operations.  
A legal document management system that doesn’t allow file sharing and collaboration is nothing but useless. You know how important it is for a file to be easily shared between multiple users and departments. So, make sure that your legal document management system uses tools that promote efficient file sharing and collaboration.

Is Document Management Different From Document Storage?
Many people are often confused with document management and document storage. But to clarify any confusion, is there any difference between the two? Well, there is. Document management is much more compared to document storage, and here’s why:
It’s a place where you can store your files for later use. In short, it’s all but a cabinet filled with documents and files—no more, no less. Some examples of document storage are cloud drives, hard drives, and physical file organizers.  
Furthermore, document storage is passive. And there’s nothing you can do while your files are stored under their system aside from saving, retrieving, viewing, and editing them.
If document storage is a passive way to handle your files, then document management is its active counterpart. It uses a wide array of tools to make, manage, and organize multiple documents at the touch of a button. In short, it can execute the tasks document storage could not.
Here are the things you can do with document management:
 
Why Is Legal Document Management Important?
Handling a wide range of files and documents is crucial to all lawyers, regardless of specialization. That’s why an efficient legal document management system is important. With this, lawyers like you will be able to work productively, efficiently, and securely. 
Without a legal document management system in place, such unfortunate situations are bound to happen:

Final Words
Legal document management helps lawyers and law firms handle their files and documents effectively and efficiently. Without it, they won’t be able to work as productively as possible. And they’re bound to cause errors that would put their careers at risk. Therefore, be sure to have a compelling legal document management system before you start your journey to the legal realm.

 
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BONITA SPRINGS, Fla., Sept. 19, 2022 /PRNewswire/ — SmartAdvocate, the powerful, fully integrated legal case management system, is excited to announce that it has been named The New York Law Journal’s Best of 2022 Winner in five categories this year. SmartAdvocate wishes to thank all those who voted, helping to name them Number One in Case Management Software, Document Management Solution, Entity Management System/Company, Matter Management System and Practice Management Software for the seventh year in a row. SmartAdvocate also remained in the top three in the category of Docketing & Calendaring Software.

Initially designed by and for personal injury and mass tort lawyers, SmartAdvocate is now used by a wide range of law firms throughout the United States, Canada and beyond. SmartAdvocate’s fully browser-based system allows law firms to select between Cloud and Server versions, a feature not available in many other case management systems. SmartAdvocate’s Client Portal allows clients to view their case updates and upload important information, and its Mobile App allows users to access their cases from virtually anywhere. SmartAdvocate increases the efficiency and accuracy of handling cases and operational details. Customizing the system is made easier with SmartAdvocate’s 125+ integration partners, so that firms can set ups exactly what they need, all in a simple, user-friendly format.
SmartAdvocate continually offers new releases and software updates. Igor Selizhuk, Chief Technology Officer at SmartAdvocate, was recently interviewed on The Legal Mastermind Podcast as an expert in “Finding The Right Case Management System For Your Firm.” When asked about SmartAdvocate’s well-known annual new release, Selizhuk explained that his team takes feedback from their clients very seriously, saying that SmartAdvocate has remained dedicated to using client testimonials, reviews, and requests as their main guide in software development. Regarding popular trends, he replied, “There are two broad directions: Client Communications/satisfaction and Automation.” Selizhuk gave an example of a request which involved both trends, and the request has evolved into one of SmartAdvocate’s most popular new release features. The user asked “What can we do to keep the client engaged? Can we make sure that we talk to a client every 30 days?” SmartAdvocate’s CTO continued, “Fast-forward to the new annual release and now, SmartAdvocate has a Dashboard and a Report which pulls cases whereby a firm has not communicated with a client for a predefined period of time!”
SmartAdvocate is proud to continue to include the brand message that they are an award-winning legal case management system that will increase a firm’s efficiency and profitability.
Contact: Allison Rampolla, VP Sales & Marketing, SmartAdvocate LLC, 516-723-4636 (Direct), 516-205-5875 (Mobile), [email protected]
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MONTREAL, QC / ACCESSWIRE / July 21, 2022 / Valsoft Corporation Inc. (“Valsoft”), a Montreal-based company specializing in the acquisition and development of software companies in vertical markets, is pleased to announce the acquisition of WorkDynamics Technologies Inc. (“WorkDynamics”), a provider of workflow and document management software catered to the public sector in Canada and the US, across federal and provincial governments.
Headquartered in Ottawa, Ontario, WorkDynamics offers solutions that facilitate the storage and retrieval of information such as paper and electronic documents, memos, emails, phone call records, and other correspondences. With the acquisition of WorkDynamics, Valsoft enters the document management vertical with the objective of expanding into the space.
“WorkDynamics has been in the business of helping organizations streamline and manage correspondence and workflow related activity for more than 24 years,” commented Grant Bifolchi, founder and Senior VP of WorkDynamics. “Valsoft’s acquisition undoubtedly will present a wonderful opportunity for us to take what we offer to the next level both in technical capability and in customer opportunity.”
WorkDynamics was founded in 1998 by Grant Bifolchi. The software was historically used for correspondence control management between government and constituents. Over the years, the breadth of the solution increased and now has applications for workflow automation & tracking, case management, bylaw management, compliance, reporting & monitoring.
“We are excited to enter the document management vertical through our acquisition of WorkDynamics” stated Michael Assi, CEO of Aspire Software, the operating division at Valsoft. “Grant and his talented team have built a stellar reputation in the industry, and we are looking forward to supporting their growth for years to come and expanding further into the document management space.”
Upon joining Valsoft, WorkDynamics will be able to leverage the operational synergies and expertise of Aspire Software to bolster its presence in Canada, as well as expand across North America. Grant will remain onboard at the helm of WorkDynamics as they enter this next exciting chapter.
About WorkDynamics Technologies
For 25+ years, WorkDynamics has delivered the leading document management platform to the world’s largest organizations. WorkDynamics focuses on making document management highly intuitive and easy while streamlining and accelerating business processes, tracking and accountability.
About Valsoft Corporation
Valsoft Corporation acquires and develops vertical market software companies through which each business can deliver the best mission-critical solutions for customers in their respective industry or niche. A key tenet of Valsoft’s philosophy is to invest in well-established businesses and foster an entrepreneurial environment that shapes a company into a leader in its respective industry. Unlike private equity and VC firms, Valsoft does not have a predefined investment horizon and looks to buy, hold, and create value through long-term partnerships with existing management and customers.
Valsoft Corporation was represented internally by David Felicissimo, General Counsel. WorkDynamics Technologies were represented by Michael Leaver of Kelly Santini LLP, Ottawa, Canada.
For more information about the companies, please visit https://www.workdynamics.com/ and www.valsoftcorp.com.
Media contact information:
Joey Strizzi
Director of Communications and Public Relations
Valsoft Corporation
j.strizzi@valsoftcorp.com
Mobile: 514-258-0256
SOURCE: Valsoft Corporation

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New Jersey, United States, Oct 17, 2022 /DigitalJournal/ The Enterprise Document Management Systems Market research report provides all the information related to the industry. It gives the markets outlook by giving authentic data to its client which helps to make essential decisions. It gives an overview of the market which includes its definition, applications and developments, and manufacturing technology. This Enterprise Document Management Systems market research report tracks all the recent developments and innovations in the market. It gives the data regarding the obstacles while establishing the business and guides to overcome the upcoming challenges and obstacles.
Enterprise Records Management (EDM) is a strategy for overseeing an organizations paper and electronic records so that they can be easily retrieved during a compliance audit or subpoena. The term originally referred to electronic documents created on a computer or paper documents scanned into a digital format. The meaning has expanded to include emails, images, internal documents such as company memos and external documents such as marketing or sales content.
Get the PDF Sample Copy (Including FULL TOC, Graphs, and Tables) of this report @:
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Competitive landscape:
This Enterprise Document Management Systems research report throws light on the major market players thriving in the market; it tracks their business strategies, financial status, and upcoming products.
Some of the Top companies Influencing this Market include:Ademero, Adobe Systems Incorporated, Ascensio System SIA, Blue Project Software, Box, Dropbox Business, eFileCabinet, Evernote Corporation, Google, Konica Minolta, LSSP, Lucion Technologies, M-Files, Microsoft Corporation, Nuance, Officegemini, Salesforce, Speedy Solutions, Zoho Corporation,
Market Scenario:
Firstly, this Enterprise Document Management Systems research report introduces the market by providing an overview that includes definitions, applications, product launches, developments, challenges, and regions. The market is forecasted to reveal strong development by driven consumption in various markets. An analysis of the current market designs and other basic characteristics is provided in the Enterprise Document Management Systems report.
Regional Coverage:
The region-wise coverage of the market is mentioned in the report, mainly focusing on the regions:
Segmentation Analysis of the market
The market is segmented based on the type, product, end users, raw materials, etc. the segmentation helps to deliver a precise explanation of the market
Market Segmentation: By Type
On-premise
Cloud-based
Market Segmentation: By Application
SMEs
Large Enterprises
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An assessment of the market attractiveness about the competition that new players and products are likely to present to older ones has been provided in the publication. The research report also mentions the innovations, new developments, marketing strategies, branding techniques, and products of the key participants in the global Enterprise Document Management Systems market. To present a clear vision of the market the competitive landscape has been thoroughly analyzed utilizing the value chain analysis. The opportunities and threats present in the future for the key market players have also been emphasized in the publication.
This report aims to provide:
Table of Contents
Global Enterprise Document Management Systems Market Research Report 2022 – 2029
Chapter 1 Enterprise Document Management Systems Market Overview
Chapter 2 Global Economic Impact on Industry
Chapter 3 Global Market Competition by Manufacturers
Chapter 4 Global Production, Revenue (Value) by Region
Chapter 5 Global Supply (Production), Consumption, Export, Import by Regions
Chapter 6 Global Production, Revenue (Value), Price Trend by Type
Chapter 7 Global Market Analysis by Application
Chapter 8 Manufacturing Cost Analysis
Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers
Chapter 10 Marketing Strategy Analysis, Distributors/Traders
Chapter 11 Market Effect Factors Analysis
Chapter 12 Global Enterprise Document Management Systems Market Forecast
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SAN DIEGO–(BUSINESS WIRE)–MyCase, a leading provider of cloud-based legal practice management software and payment services to law firms, now has a built-in, fully integrated accounting solution in its legal platform and has added a robust document automation integration.

“It is critical for lawyers to streamline their practices by maintaining visibility and control over financial transactions while also automating their firm’s workflows,” said Dru Armstrong, CEO of MyCase. “By leveraging the technologies of two companies acquired last year, Soluno and Woodpecker, we’ve made both accounting and robust document automation available in the MyCase platform. Our acquisitions have enabled us to continue to expand the features and functionality of the MyCase platform so that we can provide law firms with the convenience and flexibility needed to get more done without ever leaving MyCase.”
MyCase Accounting
MyCase Accounting is custom-built for lawyers and offers full-featured, ethically compliant accounting capabilities. The addition of robust accounting to the MyCase platform centralizes law firm financial data, eliminates redundant data entry across multiple systems, and ensures regulatory compliance with easy, three-way trust reconciliation.
External integrations with other accounting software solutions are no longer needed. With all financial data stored in one location, MyCase customers can avoid duplicative data entry and the need to reconcile accounts across different platforms. With MyCase Accounting, client ledgers for three-way trust reconciliation can be automatically generated, and checks can be issued directly within MyCase, ensuring visibility and control over all law firm financial transactions.
“MyCase Accounting is much simpler than the previous software I used,” says Jonathan Watson, an attorney with Watson Law. “Even with little to no knowledge of accounting, I was able to reconcile accounts and run insightful reports in 30 minutes.”
Woodpecker Document Automation Integration
The recently-released Woodpecker integration saves time and money for lawyers by automating a firm’s standardized legal document-creation process. This new integration between MyCase and Woodpecker allows law firms to use case and client information from MyCase to create documents from Woodpecker templates, directly in the MyCase platform. Using conditional logic, the text and language of a document or contract can be easily revised, and multiple documents for one or more clients can be created quickly and efficiently with a few clicks.
“Woodpecker automation improved our efficiency in preparing documents for our firm before the integration with MyCase,” says Sarah Harrison, Practice Manager and Senior Paralegal at Corley Legal, PLLC. “Since the integration, using Woodpecker templates through MyCase has taken that efficiency to another level. It further speeds up the process of preparing documents and cuts down errors in the drafting of motions and documents.”
The announcement of MyCase Accounting and a robust document automation integration follow the news of the acquisition of MyCase by AffiniPay (parent company of LawPay), the product release of MyCase Drive, and MyCase’s acquisition of Docketwise. The latest additions are examples of the many value-added innovations to the MyCase platform that have established the company as the one-stop legal technology ecosystem for law firms. With robust legal accounting and document automation functionality now available in the MyCase platform, along with many new integrations, including LawPay, Intaker, Kenect, and Ruby, MyCase provides the tools lawyers need to get work done.
About MyCase
MyCase is complete legal practice management software designed for the modern law firm. MyCase covers the entire client lifecycle with Lead Management, Case Management, Billing and Invoicing, and robust Reporting. It includes market-leading features such as integrated Payments, 2-way text messaging, and the MyCase Client Portal to centralize client communication and share files securely. In 2022, MyCase was acquired by AffiniPay, parent company of LawPay, the market-leading payments platform. The AffiniPay family of brands includes MyCase, Soluno, CASEpeer, Docketwise, LawPay, and Woodpecker. Learn more at www.mycase.com.
About Woodpecker
Woodpecker was founded in 2017 to make robust document automation more intuitive and more accessible to solo practitioners and small law firms. As a Word Add-In, Woodpecker meets lawyers where they already work, requires no coding knowledge, and is compatible with Mac, PC, and Word Online. Woodpecker was acquired by MyCase in 2021. Learn more at www.woodpeckerweb.com.
Nicole Black
Legal Technology Evangelist
niki.black@mycase.com
(585) 210-0815
MyCase Announces Release of Accounting and Robust Document Automation Integration, Further Enhancing Legal Tech Platform
Nicole Black
Legal Technology Evangelist
niki.black@mycase.com
(585) 210-0815

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An invoice, bill, or tab is a commercial document sent by a seller to a buyer in conjunction with a sale. It details the agreed-upon products, quantities, and pricing for any goods or services given by the seller to the consumer.
New York, Oct. 20, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Subscription Billing Management Market Size, Share & Industry Trends Analysis Report By End-use, By Organization Size, By Deployment Type, By Component, By Regional Outlook and Forecast, 2022 – 2028” – https://www.reportlinker.com/p06352783/?utm_source=GNW
In most circumstances, the payment conditions are included on the invoice. These can specify the number of days the buyer has to pay, and they may also provide a discount for purchases made in advance of the due date.

The customer may have already paid for the items or services listed on the invoice. Some sellers note in large, capitalized characters on an invoice whether it has been paid to avoid misunderstandings and the subsequent unneeded interactions between buyer and seller. A bill is a sales statement from the perspective of the seller. From the viewpoint of the buyer, a bill is a transaction invoice. The document identifies the buyer and seller, even though the word “invoice” suggests a financial obligation.

In conjunction with recurrent payments, subscription billing refers to the automatic, recurring billing procedure that takes place after a customer joins up to utilize a service. This could involve receiving a bill each month for a subscription to a magazine, streaming service, SaaS item, “box of the month,” or other recurring services of a similar nature. Regular charges are made to customers, but they are free to stop at any moment. The amount owing to the client is automatically transferred from their account to the company instead of being harassed for payment regularly. The client receives a receipt, but other than that, nothing happens in the transaction.

COVID-19 Impact Analysis

The economy was severely impacted by the abrupt emergence of the COVID-19 pandemic. Subscription billing companies are persevering to be resilient despite these supply chain limitations, operational setbacks, and a circumstance of a worldwide recession. Additionally, the impact of subscriptions for B2B and B2C software and information services is minimal. However, several industries, such as consumer Internet of Things (IoT), travel and hospitality, commercial IoT services, sports-related assistance, and technology for small businesses are seeing a detrimental impact on their growth. The COVID-19 pandemic is also estimated to have an impact on the market expansion because of the uneven adoption of subscription services across different industries.

Market Growth Factors

Increase in subscription-based business model adoption

There has been an increase in B2B and B2C firms’ subscription-based recurring income. Businesses are increasingly using subscription as a service (SAAS) because clients want to rent software rather than purchase it. A majority of online buyers are engaged in subscription programs and get items on a recurrent basis. Notable technological businesses such as Uber, Spotify, Apple, and Google LLC are transitioning from a static and linear product offering to a subscription-based model to promote consistent, predictable, and recurring income. The media and entertainment industry have had the most significant rise in subscriptions over the past few years. This is augmenting the growth of the subscription billing management market.

Customer demand for adaptability of subscription

The demand for greater purchasing freedom among customers has also grown. As the economic effects of the pandemic caused havoc on the finances of many people, it became more important than ever for consumers to be able to purchase and pay for exactly what they wanted and would utilize. Customers looking to save money rushed to product-as-a-service agreements, which strengthened subscription models. However, it also raised the demand for pay-per-use and other utilization subscription options. Under these systems, customers may personalize their purchases to receive only what they need, when they need it. Customers like the versatility; for companies, the reduced initial investment encourages customers to remain and try new things, especially during times of transition.

Market Restraining Factors

Growing Competition among the companies

Subscription billing is an emerging business model that is rapidly gaining the traction of a significant number of people all over the world. It offers a lot of savings as well as convenience to the customer. However, due to the increasing trend and adoption of subscription billing all over the world, the market players entering the sector is also increasing at an exponential rate. There is a large number of service providers penetrating the market, which is beneficial for customers. However, these market players are encountering a number of challenges owing to this. Hence, this factor is playing a major role in impeding the growth of the subscription billing management market.

Component Outlook

On the basis of Component, the Subscription Billing Management Market is divided into Software and service. The software segment acquired the largest revenue share in the subscription billing management market in 2021. It is because when firms have a monthly subscription plan, it is even more remarkable. Multiple spokes subscription prevention, invoicing, invoicing and accounting, online payment processing, fraud control, etc. are held together by billing software used by subscription-based businesses.

Software Type Outlook

Based on the Software, the Subscription Billing Management Market is segmented into Credit and Collection Management, Receivables Management, Quote and Pricing Management, Subscription Order Management, Dispute Management, and Others. The subscription order management segment procured the biggest revenue share in the subscription billing management market in 2021. The goal of subscription order management is to reduce the churn rate of customers by finding the right mix of products and projects, recurring and one-time services, and usage charges for customers.

Deployment Outlook

By Deployment, the Subscription Billing Management Market is classified into Cloud and On-premise. The ability of cloud-based billing solutions to adapt to change and effectively handle the organization’s altering demands will be a crucial element driving this segment’s development in the coming years. The advantages of cloud-based billing include automated procedures, flexibility, scalability, support for company operations, and end-to-end customer life cycle management.

Enterprise Size Outlook

Based on the Enterprise size, the Subscription Billing Management Market is bifurcated into Large Enterprises and SMEs. The large enterprise segment acquired the largest revenue share in the subscription billing management market in 2021. Large organizations have a dispersed client base, and as a result, they are actively engaging in subscription billing management systems to increase customer retention. These technologies help major organizations in managing their customers’ portfolios by enhancing the customer experience.

End-User Outlook

On the basis of End-User, the Subscription Billing Management is divided into BFSI, Retail & E-Commerce, IT & Telecom, Media & Entertainment, Healthcare, and Others. The retail & e-commerce segment registered a substantial revenue share in the subscription billing management market in 2021. Changing customer preferences and purchasing patterns are transforming the retail and e-commerce market. Retailers are opting for automatic subscription billing systems as a result of the increased usage of online channels for purchasing consumer products.

Regional Outlook

Region-Wise, the Subscription Billing Management Market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2021, North America accounted for the highest revenue share of the subscription billing management market. The rise in the growth of the segment is attributed to an expanding number of market players operating in the region. Numerous key market players in this sector are concentrating on the development of subscription billing management systems designed to improve customer service. Therefore, these factors are propelling the growth of the regional subscription billing management market.

The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; SAP SE and Oracle Corporation are the forerunners in the Subscription Billing Management Market. Companies such as Zuora, Inc., GoTransverse and Recurly, Inc. are some of the key innovators in Subscription Billing Management Market.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Oracle Corporation, SAP SE, Zuora Inc., BluSynergy, Recurly, Inc., Gotransverse, Cleverbridge GmbH, LogiSense Corporation, Aria Systems, Inc., and Conga (Thoma Bravo, LP).

Recent strategies deployed in Subscription Billing Management Market

Partnerships, Collaborations & Agreements

Mar-2022: Aria Systems came into a partnership with EXA Infrastructure, the largest digital infrastructure platform. Through this partnership, Aria would continue to deliver ongoing consultative services via its Technical Account Management services, operating in partnership and as an attachment of EXA’s technology team to assist optimize their usage of Aria. However, EXA intends to utilize the robust abilities and flexibility of the Aria platform to investigate new subscription and usage-based billing ideas.

Nov-2021: Oracle came into a partnership with Bharti Airtel, India’s exclusive communications solutions provider. This partnership aimed to support the development of India’s digital economy by obtaining a range of industry-leading cloud solutions. Additionally, Organisations are shifting to cloud-based applications to propel their digital transformation journeys.

Oct-2021: Oracle formed a partnership with Wipro, an Indian multinational corporation. Through this partnership, the companies aimed to launch Wipro Tollway Transportation and Billing solution to enhance commuters’ experience while enhancing revenue for tollway management. Additionally, the platform contains toll-tag accounts, consumer portals, financial systems, commercial and operational back-office modules, and third-party payment gateways.

Sep-2021: Zuora signed an agreement with Microsoft, an American multinational technology corporation. This agreement aimed to combine several Microsoft products within Zuora which would reinforce Zuora’s core offerings: boosting innovation and improving the subscriber experience. Moreover, the focus is to boost the growth of the subscription economy and automate business revenue recognition.

Jun-2021: Oracle signed an agreement with Deutsche Bank, one of the world’s biggest financial services associations. Under this agreement, Deutsche Bank would boost its current database systems and relocate the bulk of its Oracle Database estate to Oracle Exadata Cloud @Customer, an on-premises deployment choice of the Oracle Exadata Cloud Service, to sustain applications that either would not transfer to the public cloud or may in the future.

Apr-2021: Aria Systems signed an agreement with GTT Communications, a foremost global cloud networking provider to multinational customers. Under this agreement, Aria’s billing and monetization platform would be deployed within the business’s Infrastructure division. Moreover, Aria’s speed of scalability, deployment, and ease of implementation makes it perfect for any new enterprise entity in need of a modern and nimble billing platform.

Mar-2021: Conga formed a partnership with Zilliant, the industry head in intelligent B2B price optimization. With this partnership, Zilliant and Conga consumers would aid from complicated pricing optimization and a smooth, error-free operation when it comes to configuring complicated services and products, providing precise quotes, and forming deals with the most up-to-date product and pricing details.

Oct-2020: Gotransverse signed an agreement with Snowflake, the cloud data platform. This agreement would create Gotransverse’s Premier Data Access add-on available via the Snowflake Data Marketplace. Additionally, premier Data Access provides consumers direct access to Gotransverse billing data reserved on Snowflake’s cloud data platform for progressive visualization, reporting, and analytics.

Aug-2020: Gotransverse joined hands with TM Forum, a non-profit global enterprise. Through this collaboration, Gotransverse intends to transfer its expertise in flexible, intelligent billing systems to donate to TM Forum’s Open Digital Framework and promote new enterprise solutions.

Product Launches & Product Expansion

Mar-2022: Recurly introduced Recurly Partner Connect, a distinctive gateway integration technology. The Recurly Partner Connect permits payments partners to get approved and build connections to Recurly’s API, streamlining it propel integration and it permits partners to customize integrations straight to their current APIs, providing payments partners secure, open access to its platform.

Feb-2022: SAP introduced new features in SAP Subscription Billing. The new subscription now sustains the following standard partner functions for a consumer such as sold-to party, bill-to party, ship-to party, and payer. Additionally, when users create the subscription with the Subscriptions API, they can select the ship-to party, bill-to party, and payer, whereas the consumer stays the sold-to party.

Sep-2021: Zuora introduced the Unified Monetization solution at The Journey to Usership. The Unified Monetization would deliver the flexibility to seamlessly bill for all subscriptions, products, and services on a single platform, and if selected, a single invoice. Moreover, this would eradicate tedious back-end combination and data reconciliation measures present today delivering the quick agility to monetize water-as-a-service on a single platform.

May-2021: Oracle introduced the CX platform to support deeper subscriptions for B2C and B2B consumers. The Oracle CX delivers easily set up subscriptions and conducts analytics on subscriptions in the process to indicate which clients might not continue so they can be offered attention and inspired to renew their subscriptions.

Geographical Expansion

Feb-2022: Recurly expanded its geographical footprints by establishing subscription management operations & new features in Europe. The expansion would power consumer consent and development possibilities in-region.

Scope of the Study

Market Segments covered in the Report:

By End-use

• BFSI

• Retail & E-Commerce

• Media & Entertainment

• IT & Telecom

• Healthcare & Life Sciences

• Others

By Organization Size

• Large Enterprises

• SMEs

By Deployment Type

• Cloud

• On-premise

By Component

• Software

o Subscription Order Management

o Quote & Pricing Management

o Credit & Collection Management

o Receivables Management

o Dispute Management & Others

• Service

By Geography

• North America

o US

o Canada

o Mexico

o Rest of North America

• Europe

o Germany

o UK

o France

o Russia

o Spain

o Italy

o Rest of Europe

• Asia Pacific

o China

o Japan

o India

o South Korea

o Singapore

o Malaysia

o Rest of Asia Pacific

• LAMEA

o Brazil

o Argentina

o UAE

o Saudi Arabia

o South Africa

o Nigeria

o Rest of LAMEA

Companies Profiled

• Oracle Corporation

• SAP SE

• Zuora Inc.

• BluSynergy

• Recurly, Inc.

• Gotransverse

• Cleverbridge GmbH

• LogiSense Corporation

• Aria Systems, Inc.

• Conga (Thoma Bravo, LP)

Unique Offerings

• Exhaustive coverage

• Highest number of market tables and figures

• Subscription based model available

• Guaranteed best price

• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06352783/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.

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Shares of Rumble (NASDAQ: RUM) — a video platform seen as a censorship-proof alternative to YouTube — plunged on Wednesday after the company filed a registration document with the Securities and Exchange Commission (SEC). As of 1 p.m. ET, Rumble stock was down 10%. Rumble officially went public on Sept. 16 when it completed its business combination with a special purpose acquisition company (SPAC).
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How to easily open files with sudo privileges in the GNOME File Manager
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If you’re tired of having to jump through hoops to open files with sudo privileges in the GNOME File Manager, Jack Wallen has just the trick you need.
Not all Linux file managers are created equal. Some file managers have more bells and whistles than the average user will ever need, while other file managers are as inflexible as cold, hard steel. There are also those that ship with a bare minimum of features but allow users to extend the feature set with add-ons.
Given how we so often take the file manager for granted, once you find a feature that could really make your daily life a bit more efficient, you realize just how important the tool is. Such is the case with the GNOME File Manager. Out of the box, it works great and includes enough features to get you by for a while. Eventually, however, you’ll find some features that could make things a bit easier.
One such feature is the ability to open files with sudo privilege without having to jump through extra hoops.
Let me set the stage for you. As it ships, to open a file with sudo privileges, you have to do the following:
That’s a bit extra. And when you’re having to do this over and over throughout the day, it can become a serious waste of time.
SEE: 40+ open source and Linux terms you need to know (TechRepublic Premium)
Fortunately, there’s a way to add an Edit as Administrator entry to the Files right-click context menu, so you don’t have to go through all of those steps. The one caveat to this is that if you’re opening text files, it will open in the default Gedit — or GNOME Text, depending on which version of GNOME you’re using — GUI application.
If you prefer editing such files in the terminal window, the more cumbersome route is still your best bet. But for those who want more efficiency out of their file manager, let’s fix this glaring omission.
The only things you’ll need to make this work are a running instance of any Debian-based Linux distribution that uses the GNOME file manager and a user with sudo privileges. The one caveat to this is that there is no way to do this on an RHEL-based distribution such as Fedora without using a tool like beesu, which allows you to open the file manager with sudo privileges and doesn’t make the process any more efficient.
With that said, let’s get this up and running on my go-to Linux distribution, Pop!_OS.
Before we add this extension, please use it with caution. Once you’ve installed this tool, you make it easier for other people to open important configuration files with ease. Do this only if you trust those who’ll be using your desktop.
With that out of the way, log in to your desktop and open a terminal. From that window, issue the command:
sudo apt-get install nautilus-admin -y
Once the installation completes, restart Nautilus with the command:
nautilus -q
Open Nautilus and navigate to a file you want to open that requires root access, such as /etc/samba/smb.conf. Right-click that file and you should now see a new entry in the Nautilus aka GNOME Files context menu, named Edit As Administrator (Figure A).
Figure A
After typing your user’s sudo password, the Gedit — or whatever GUI text editor you’ve set as your default — will open the file with write permissions. Edit the file as needed, save it and you’re done.
Thanks to this handy addition to the GNOME File Manager, your work day can be made considerably easier. Give nautilus-admin a try and see if you don’t quickly come to depend on the newly-added feature.
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How to easily open files with sudo privileges in the GNOME File Manager
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