NetDocuments competitor, Worldox, is now a part of it, and the incorporation comes as a surprise amidst high competition between the two. The acquisition is certain to impact users of both ends, and the collective plans laid by these two ventures would hugely determine the extent of this transition.
But, there are more expectations of betterment than regression amongst the audience. Users are excited about the merger and hope for an improved operation, cybersecurity, and experience. The integration is expected to have a larger user base and progressive ideas to upgrade the platform.
Brief Overview of NetDocuments Acquiring Worldox
On October 18, 2022, NetDocuments officially announced through their website that they had successfully acquired Worldox. NetDocuments is a prominent name in cloud-based document management and collaboration platforms, and at the same time, Worldox is another top document management system for the legal industry.
The acquisition is likely to enhance the status of NetDocuments and its services regarding law firms. The merger came as a result of the arrest of Worldox on criminal charges. Amidst a tense moment for the document management software publisher, NetDocuments came forth and acquired the services.
Impact on Worldox Users
This acquisition may not have immediate impacts whatsoever. The work frame and operation stay intact for the time being, as per NetDocuments CEO Josh Baxter. The transition will be planned out in a different shade and decided. The motive is to smoothen the transition for Worldox users so that it doesn’t hinder the user’s workflow in any shape or form.
The extent of this acquisition depends hugely on the firms and how they plan to take the transition forward. For example, Worldox users may instead reap the benefits of upgrading their existing features with the newer ones from NetDocuments.
Overview of The Impact of The Acquisition on The Legal Document Management Industry
In general, the impact of one established firm being acquired by an even bigger firm would vary depending on the details involving the nature of the acquisition. The alliance between NetDocuments and Worldox will proportionally affect its thousands of users, but mostly in a positive light.
The merger of one prominent legal document management service provider with top document management is likely signalling the advancement of services. Combining such quality service providers will yield strong results and improved solutions. Furthermore, the price range and other regulations might differ from the existing ones.
Amidst the increasing competition, the market consolidates for users of both NetDocuments and Worldox as the union will ease and expand the work process and services. In addition, users may notice upgraded customer service and the introduction of newer technologies that can be of advantage.
Another important impact is the increase in space and cybersecurity. NetDocuments is a quality source to store your data in Cloud servers, and the acquisition of Worldox means that users will get to store more documents from what they were receiving.
In addition, the users of Worldox will enjoy full-fledged services of NetDocuments to store and retrieve data safely.
At the same time, users of NetDocuments will now get to use database management with specific expertise that comes with Worldox.
What Should Worldox Users Do Now?
In times of such mergers, it is normal for its users to feel uncertainty and confusion. But in this case, the merging partners are prominent names in their specific industries. And in addition, the CEO of the acquiring company has released a statement regarding the conversion and how they would ensure the process would be easy to understand for normal users.
Worldox users, for the time being, can easily coexist with their usual practices until the firms provide further notice about the transition. And even in the case of further required processes, Matrix Solutions would ensure the existing and new users of a smooth transition.
Should Worldox Users Move To NetDocuments?
As the alternate options seem dim, the timing suggests that all Worldox users must incorporate themselves with NetDocuments. But that should be an underlying worrying cause for firms, as the shift seems to be made smoothly by the parent organisations. The verdict, as of now, needs more clarity, but it does support the idea that the transition would be made hassle-free and easy.
The extent may be unpredictable as both organisations have made few precise statements.
What Users Like and Don't Like About NetDocuments?
A lot of Worldox users have heard about NetDocuments. NetDocuments is a database management solution provider that is based on Cloud servers. The massive database management software has many users worldwide, making it one of the prominent names in its industry.
The large variety of users has the majority of them as satisfied customers. But that is certainly not it. There are some drawbacks to NetDocuments as well, despite its popularity. We have covered the factors of NetDocuments that most people like and dislike:
What users like:
- NetDocuments is a cloud-based service provider. Its users can access it from anywhere, and it cuts the cost and hassle for organisations as they don’t have to hire additional staff.
- NetDocuments are a simplified version of Cloud database management. It is easier to access and more flexible than most competitors like Dropbox, Google Drive, and OneDrive.
- NetDocuments has always looked at the legal industry with the highest importance. It incorporates a top level of service for law firms. That quest is recently being upgraded with their acquisition of Worldox, a premium document management service for law firms.
What users don’t like:
- NetDocuments needs to be more supportive of Apple operating systems. It makes it difficult for Mac users to do this since they will have to either replace it with the Windows operating system or run an alternative operating system on Mac that is somewhat aligned with Windows.
- Integrating your organisation’s database into NetDocuments requires a third party or a consultant. Although the intent is to have an error-free transition, the policy is not welcomed by all. Some reviews of the consultant’s work have been noticed to be in negative form.
- The pricing structure allocated by NetDocuments or their third-party users needs to be viewable publicly, which is another annoying reason for users. There is a substantial reason behind the confidential policy, but more is needed for customers to consider the alternatives.
The Future of Legal Document Management
The future looks unpredictable, but it shows hints of rapid growth and advancements in legal document management. The coming together of two world-renowned organisations in a similar industry does bring out expectations and even better output. It will be interesting to see whether the huge expectations match with time or not.
Worldox, a legal document management firm, is merging into a larger firm looking at overall document management. This makes the expectations of the enhancement quite sensible.
What To Expect In Terms of Advancements and Improvements In The Future?
Worldox has been at the forefront for most law firms willing to store and retrieve their database through Cloud. Their larger competitors were NetDocuments, which provides overall Cloud solutions on a larger scale befitting any industry. But the law-oriented approach of Worldox had made itself another of the prominent names for law firms.
The merger came up just after NetDocuments released PatternBuilder, a document and workflow management system that combines a strong DMS with equally powerful security features and legal automation technology.
The law firm or legal team users of NetDocuments Cloud platforms greatly benefit from the acquisition of Worldox as it solves most of their complex issues like major document management, collaboration, automation, and governance issues.
Understanding the nature of these two firms, the merger between them would certainly indicate more advancements and improvements.
The acquisition of Worldox by NetDocuments is a great milestone in the legal document management system industry. The synergy between the two established firms allows law firms to access a comprehensive and highly integrated system for organising, collaborating, automating, and governing documents.
The merger solidifies NetDocuments’ position as one of the prominent names in the document management software industry and perfectly suits the diverse modern customer needs. The collaboration is expected to bring great value to its customers and the industry.