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New technology to shift away from traditional file sharing tools
Traditional file sharing tools and email have been replaced with a secure, cloud-based solution that will “optimise” the deal-making space for lawyers and their clients.
Naomi Neilson
Australian “deal tech” platform company, thedocyard, announced its IPO on ASX, with it seeking to disrupt traditional use of file sharing tools. It said its clients deal with ever-increasing regulation, cyber threats and increasing demands of deal services.
Mr Clout said there has been “little to no innovation” used in deal management in the past decade and the company was borne out of his own frustrations as both a law firm partner and senior in-house transaction lawyer as how deals are executed.
“Those that are involved in and work on deals have a challenging new environment to work in, and their tools of choice have never been more outdated or wanting. Therein lies our global opportunity,” Mr Clout said.
“Since founding thedocyard I have learnt that productivity and process management are only part of the story, with data security, regulatory compliance, transparency and auditability rising to the top of the issues lists of the world’s deal advisers and clients.”
The IPO, which is being managed by leading Sydney equities firm and M&A specialists Barclay Pearce Capital, will value the company at up to $27 million. The funds raised are to be used to fund further sales and marketing of the product.
“Surprisingly, even in this increasingly digital world, today most deals are still manually handled among advisers and principals, primarily leveraging email as the backbone,” he said.
“This introduces significant execution risk, data security issues and an almost total lack of auditability. thedocyard’s next-generation deal technology provides a secure, central and easy-to-use platform for deal management and execution.”
Naomi Neilson
Naomi Neilson is a senior journalist with a focus on court reporting for Lawyers Weekly.
You can email Naomi at:
