As 2019 draws to an end, it’s a chance to reflect on the year that was and take stock. It was an important year of solidifying, scalability and solutions development for KorumLegal. As our HQ motto for the year crudely put it, “getting shit done”. The year has flown by and we’re all feeling a bit wind swept but grateful for a strong 2019. Here are a few of our highlights:
At the heart of what we do - our community of clients and legal consultants - has grown in numbers and geographical scale, with the legal community increasingly looking for differentiated solutions across the Asia-Pacific region and beyond. The growth in our community is reflected in our positive overall year on year revenue growth and profitability.
Our Singapore and London offices are now well and truly out of the starting blocks under the guidance of Rob and Estefania in Singapore for SEA market, and Danh and Sarah in London for EMEA market. Together with our core HQ team in Hong Kong, I’m proud of the culture that we’ve built and are continuing to build. But we must continue to keep challenging ourselves to push boundaries.
KorumLegal’s Process & Tech advisory business led by Bill with the help of Elsa and Gillian has been growing from strength to strength. Our Asia-Pacific focus, our agile approach and our experienced legal lens is definitely a differentiator. In response to client demand, we have developed off-the-shelf solutions including a Legal and Technology Audit, a 5-year Technology Roadmap or a Process Optimisation with Technology reconfiguration using our proprietary Korum Process Methodology (KPM) - all at fixed fees. These solutions are configured with defined processes, clear deliverables and price certainty, and have been utilised by many of our clients on their legal operations journey.
We launched ‘Axceller’, our centralised technology platform that streamlines our internal processes and aims to provide a better customer experience for our consultants and clients. It’s still in its infancy, but we are already getting great feedback as to the value, efficiency, utility and professionalism it provides. The focus of the platform is to accelerate engagement for our People expertise, smart Processes and Tech solutions – while capturing valuable data for better and improved delivery of our services.
We’ve further developed and solidified our Managed Legal Services (MLS) offering and are continuing to develop products and solutions in response to market demand. It has become popular for clients seeking effective and cost-efficient solutions, and who value the combination that People, Process and Technology offers. As noted by many in the industry, MLS has huge growth potential when done right.
It has been a tremendous year of ‘growing up’, and we are feeling energised for what is to come in 2020. We will continue on our upward trajectory and continue to embed and solidify the groundwork we have built thus far. KorumLegal will be 4 years old in March 2020 which is surreal - but validates the need for what we’re doing. Our focus in 2020 is to further our growth and reach into new markets, developing Axceller' functionality and customer utility, setting up and selecting an Advisory Board and looking at potential strategic external investment to fuel this ambition. Watch this space….
Happy holidays everyone – and see you in 2020!
Titus is the founder of KorumLegal, a legal solutions company innovating in People, Process and Technology solutions across the Asia-Pacific region and beyond. As a new entrant to the market, KorumLegal has ensured digital and technology innovation is a core part of their DNA. Given this, Titus and KorumLegal regards itself as a hybrid of ‘innovator’ and ‘early adopter’ in the digital transformation journey.