Legal BI vendor Iridium Technology announces stellar 2017 results
Iridium Technology LLC, a global provider of BI Solutions for law firms, is proud to announce another year of record growth in 2017. Iridium signed up 21 new law firm clients globally in 2017, bringing their total client count to 66 at EOY, a 46% increase in customer count. Three more firms have already signed up in 2018. New Iridium clients in 2017 included five more AMLAW 100 firms, bringing the total to 15. All 21 new firms were signed up under Iridium’s subscription-based fee model. “We are incredibly pleased with these results” states Tom Jones, CEO of Iridium Technology, “Our continued focus on ‘Business Intelligence for Law Firms – Period’ has allowed us to develop the products and services that leading law firms are demanding.” New Iridium clients signed up in 2017 include Capsticks, LeClairRyan, McCarthy Tétrault, and Miller Thomson LLP. Iridium continues to provide fully customised BI solutions for each client, and most customisations are covered by the monthly subscription fee. 87% of Iridium clients did not pay a single billable dollar for customisations in 2017, and only 3% of Iridium’s revenue comes from billable fees. “We view our clients as our partners,” states Jones, “so we do not continually hand them SOW’s for customisations.”
To keep up with demand for the Iridium BI product line, Iridium added ten new team members in 2017, bringing the total to 30 team members. The worldwide consulting organization now boasts 18 full-time BI consultants that are working 100% on client implementations. Iridium now has implementation personnel in all regions where they do business: US, Canada, EMEA, and APAC. The dedicated product development team has also grown to five full-time members. Additionally, Iridium made two key management hires, bringing on COO Joe Zoghbi (formerly Managing Director of Minisoft/ARCS) and Programme Director UK/EMEA Fraser Mayfield (formerly Product Director for LexisOne). “We continue to be a technology-driven firm” states Jones. “25 of our 30 employees have degrees in Computer Science. Our deep technical capabilities and passion enable us to continue to extend our world-class legal BI solution and our excellent customer service. Iridium's average customer NPS score in Q4 2017 was 9.2/10. Please watch for some exciting announcements in the coming months.”
Iridium Technology is focused on "Business Intelligence for Law Firms. Period." The Iridium BI product line offers a complete business intelligence solution designed specifically for legal and professional services firms. Four modules are available: Revenue, Profit, GL+Expense, and Matter Budgeting. Each module consists of a full-featured cube and a complete set of high-performance dashboards. Iridium BI works with the Elite Enterprise, Elite 3E, and ADERANT Expert practice management systems. The solution was designed based on Iridium's 70,000+ hours of Legal BI experience. All content can be customised based on the firm's business practices, terminology, and financial calculations. Law firms deserve better BI than they are currently getting: better cubes, better dashboards, better value, and better service. 69 leading global law firms have signed up for Iridium BI, ranging from 40 timekeepers to over 3000.