April 23, 2021 (New York City – Amsterdam): Reynen Court Inc., the fast-growing software company supported by a consortium of twenty of the largest global law firms, today announced the launch of a new full-service offering designed to accelerate innovation and expand adoption of its ground-breaking legal technology platform by law firms and in-house legal departments. In connection with the launch, Reynen Court and Womble Bond Dickinson, a firm of 1,100 lawyers in 26 offices across the U.S. and the U.K., jointly announced that the firm had signed up for the new model in order to speed up their sourcing, testing and acquiring of new cloud-based technologies.
The Reynen Court platform helps firms and law departments efficiently source, test and buy, safely deploy and strategically manage best-in-class software applications. Until now, the company’s platform has been available only on a self-managed basis, where firms and departments bring their own infrastructure (in a data center or virtual private cloud), install the Reynen Court platform, and then deploy and manage containerized third-party software applications in one or several secure private clouds under their exclusive control. In contrast, the new full-service offering provides turn-key access to a comprehensive solution that enables organizations to access the same powerful benefits of the platform (and the standardization it embodies) without requiring them to provision and manage their own private cloud, platform and application deployments.
The new full-service offering comes with a lower up-front subscription fee than the self-managed platform and a flexible pay-as-you-go pricing regime that bundles deployment-specific application management services and cloud infrastructure provisioning into supplemental fees that are quoted in connection with each prospective application deployment. Such fees will vary based on the application selected and the scope of the deployment.
Innovation in a Box
“Our platform has several core components, including a Solution Store full of curated content and analysis about vendors and their products, together with tools for testing applications in one-click as well as an automated contracting regime based on model contracts intended to meaningfully streamline the process of licensing apps from third-party vendors”, commented Reynen Court founder and CEO Andrew D. Klein. “Before we even launched to the very large law firms that helped us design the platform, innovation teams at several large and mid-sized firms started asking us whether we could provide these elements on a full-service basis. Over the last year, a number of influential in-house legal operations leaders similarly expressed interest in getting access to a comprehensive solution — an “innovation laboratory in a box” –that they could use to source, evaluate and securely try-out new applications in a trusted environment without over burdening their corporate IT departments.”
“From the time we first met Reynen Court, we felt strongly they could make a substantial contribution toward our innovation initiatives as we work to accelerate our ability to source and test new practice-focused applications,” says Bill Koch, Chief Knowledge Officer at Womble Bond Dickinson (US). “Like everyone in our industry, we see no end to the onslaught of new technologies, and Reynen Court will allow us to cut through the noise so that we may rapidly adopt technologies that improve our efficiency and facilitate purposeful interactions with our clients. The value of the time we expect to save represents a multiple on the investment we are making in a full-service Reynen Court subscription. We are excited to get started and have already identified a number of applications that we intend to pilot straight away.”
Comprehensive solution for running containerized apps in a secure private cloud
“For law firms and law departments that seek to access a portfolio of modern cloud-based solutions without having to trust their confidential data to a large and growing number of disparate SaaS vendors, our full-service model will give them a powerful alternative to the self-managed platform”, added Venky Srinivasan, who served for twenty years as the CTO for Stikeman Elliott, one of Canada’s premier law firms, before joining Reynen Court where he has led the development of the new offering. “Of course, Reynen Court will need to establish trust with the firms. But once Reynen Court and the private cloud are approved under internal IT security and client-mandated compliance policies, then new containerized software applications can be securely added to the firm’s application portfolio in minutes rather than the months it currently takes. That’s because Reynen Court’s full-service solution offers a single, trusted environment in which to test and deploy containerized applications. It also gives firms and law departments a single number to reach for third-level support for the applications deployed on the platform, which we think confers significant operational efficiencies. Many other benefits of the platform – such as comprehensive subscription management, telemetry about the costs and usage of technology, and enhanced interoperability – also become available off-the-shelf for many new applications.”
Pay-as-you-go pricing
“We appreciate the pay-as-you-go pricing structure of the full-service model”, added Bradley Bragg, Chief Information Officer at Womble Bond Dickinson (US). “We can get started immediately – at a lower up-front cost compared to the self-managed option and without having to invest time and energy in building or maintaining an infrastructure for the platform. Over time, as we select specific third-party applications for proof-of-concept or full production deployments, then in each case we will get quoted in advance for the cloud provisioning and deployment management services that would apply. We can accept those incremental costs and outsource the project or we can change at any time to a self-managed subscription. Time will tell where we end up, but at this point we prefer the full-service offering, with the platform provided as a service, fully installed, configured, secured, managed and supported by Reynen Court.”
More announcements expected
In addition to Womble Bond Dickinson, two other sizable law firms are scheduled for the initial roll-out of the full-service model during the second quarter. Additional law firm subscriptions for the new offering are expected in the second half of 2021. Reynen Court also plans to announce its first significant collaboration with in-house legal departments in the coming months.
A detailed document of the Reynen Court full-service offering is available upon request.
For more information on the Reynen Court platform, please visit www.reynencourt.com.
Contact:
Media Inquiries at Reynen Court
+1.917.588.0746 / +31.623660310
[email protected]
About Reynen Court
Reynen Court Inc. (www.reynencourt.com) makes it fast, easy and secure for law firms and in-house legal departments to discover, test, adopt and strategically manage Artificial Intelligence, Smart Contracts and other new technologies. Our platform enables firms to run cloud-based applications either on-premises or within virtual private clouds under their own control — thus giving access to the benefits of modern cloud computing without requiring a sacrifice of security or stability. The platform also takes time and costs out of traditional technology procurement and deployment processes by providing a content rich solution store together with tools and automation for testing and purchasing applications and utilities that drive interoperability between and among other applications as well as with a firm’s primary systems and infrastructure. The platform also enables firms to comprehensively gather and analyze cost and usage metrics to aid in better predictability of IT software and infrastructure maintenance and expenditure. We are supported by a broad consortium of twenty of the largest global law firms. Clifford Chance, Latham & Watkins, Orrick and Nishimura & Asahi are investors in the company.
About Womble Bond Dickinson
Womble Bond Dickinson is a transatlantic law firm with more than 1,100 lawyers based in 26 UK and US office locations serving clients across every business sector. The firm provides core legal services including: Commercial, Corporate, Employment, Pensions, Dispute Resolution, Litigation, Finance, Banking, Restructuring, Insolvency, IP, Technology and Data, Private Wealth, Projects, Construction and Infrastructure, Real Estate and Regulatory Law.
“Womble Bond Dickinson,” the “law firm” or the “firm” refers to the network of member firms of Womble Bond Dickinson (International) Limited, consisting of Womble Bond Dickinson (UK) LLP and Womble Bond Dickinson (US) LLP. Each of Womble Bond Dickinson (UK) LLP and Womble Bond Dickinson (US) LLP is a separate legal entity operating as an independent law firm. Womble Bond Dickinson (International) Limited does not practice law. Please see www.womblebonddickinson.com/us/legal-notice for further details.
