Litera acquires FileTrail to bolster information governance

Litera, a global provider of legal technology solutions, has announced the acquisition of FileTrail, a globally trusted player in information governance and records management. The acquisition enhances Litera's portfolio in the governance space, complementing its existing CAM, PowerDesktop, and PS/Ship products.

The integration of FileTrail's solutions into Litera's suite of legal tools is expected to provide a unified approach to data management, compliance simplification, streamlined transfers, and optimised record disposition. This expansion will offer Litera customers more comprehensive and modernised options for managing the evolving landscape of regulations and data security threats across both physical and digital records.

Litera CEO Sheryl Hoskins, said, "Firms have always prioritised information governance and safeguarding client and matter data, but in today's regulatory environment, it's become even more critical."

"It is essential for firms to maintain a complete view of client and matter data to comply with their regulatory obligations. FileTrail's strength lies in its ability to offer a unified view of all data within an organisation, and this integration into Litera's existing GRC portfolio will provide firms and corporate departments with industry-leading Governance, Risk, and Compliance capabilities."

FileTrail, founded in 2000, has established itself as a prominent name in information governance and records management. Numerous innovative organisations operating in highly regulated industries, including Legal, Energy, Biopharmaceutical, and Financial Services, rely on it.

FileTrail CEO Harold Westervelt expressed enthusiasm about the acquisition: "We are excited to showcase our cutting-edge suite of products to a larger, more agile fan base. The combination of FileTrail's capabilities, alongside Litera's CAM, PowerDesktop, and PS/Ship products, creates a governance solution that allows our customers to have complete control over sensitive client data."

Westervelt further highlighted the benefits FileTrail customers would gain from Literas's modern approach to SaaS and AI technologies. "FileTrail customers will also benefit from Litera's modern approach to SaaS and AI technologies, and an elevated customer experience, including dedicated Customer Success Management, extensive adoption resources, and access to product SMEs, all focused on empowering customers to extract the utmost value from their Litera solutions."

The consolidated offerings from Litera and FileTrail aim to empower legal firms and corporate departments with an expanded set of capabilities:

• Comprehensive Data Management: Firms can achieve a thorough understanding of how and where client and matter data is stored and used, encompassing both physical and digital records.
• Integrated Digital Collaboration Management: Provision, manage, and analyse digital collaboration systems such as document management systems, network file shares, Microsoft Teams, or SharePoint seamlessly.
• Unified Retention and Compliance Management: Apply retention policies and outside counsel guidelines uniformly on physical and electronic records.
• Streamlined Review and Approval Workflows: Utilise efficient review and approval workflows for physical and digital records.
• Seamless Partner and Attorney Transfers: Manage the transfer of clients and matters between firms smoothly.
• Effective Management of Outside Storage Vendors: Implement solutions to effectively manage the transfer and storage of sensitive information with external physical storage vendors.

Both companies are optimistic that the merger will advance their capacity to provide law firms and corporations with a stable, secure, and ethically compliant environment. The integration is anticipated to help these institutions automate compliance processes, lower associated risks, and significantly reduce operational costs.