Crespect is a cutting-edge technology spin-off from the Baltic law firm Sorainen, which is developing an intelligent cloud-based legal practice management system for law firms globally. The system will simplify and streamline lawyers’ daily tasks, as well as providing business insights to enable them to manage client and international partner relationships with ease.
Crespect has achieved two major milestones recently: the tech spin-off received a grant EUR 227,000 from the European Regional Development Fund for innovative product development. Crespect also closed a seed round in which it received the first part of investment of EUR 605,000.
A solution built by lawyers, for lawyers
Crespect was first developed as an in-house system by Sorainen, the most innovative law firm in the Nordic and Baltic countries and Central Europe in 2022, according to The Financial Times. The new funding will help to finalise the commercial version of the system and launch it internationally.
“We are fortunate to have the best people and clients, but also cutting-edge technology to help us in our daily work and routines. As we didn’t find great legal practice management system on the market, we have developed our own in-house over the past two decades . A few years ago we invested over a million euros to make a modern cloud version of our system. It helps our lawyers to be much more efficient and as a result they can provide our clients with better service and more tailored solutions. As we built our system around CRM rather than revenue management, which is the standard approach on the market, we soon understood that we had created something unique and decided to make it publicly available to modern, progressive-thinking law firms. I believe the international legal industry will love it and clients will benefit from the improved service of their lawyers”, says Aku Sorainen, senior partner at Sorainen and the founder of Crespect.
The backbone of a modern law firm
The Crespect system provides all the tools that a successful law firm needs in one comprehensive solution. The software includes features such as client onboarding and management, case management, time tracking, billing, collaboration, and resource and know-how management, among others, all in one platform. This all-in-one system saves valuable time and provides an intuitive and smooth user experience.
“Law firms are typically not known for developing IT solutions. Moreover, they are typically frustrated by solutions created by general IT vendors, who do not understand law firms’ ways of working. After Sorainen alumni and partnering law firms started enquiring about the digitalisation tool they use internally, the decision to develop an even more enhanced practice management solution for global markets was born. Several law firms from different countries have already joined the Crespect early adopters’ community and they will start testing and sharing their feedback in order to advance the product further”, says Crespect co-founder and CEO Lauri Läheb, continuing “with Crespect we are on a mission to change the way how law as a business is being practiced.”
The commercial launch of the intelligent cloud-based software is scheduled for autumn 2023, and the public can follow Crespect’s journey on LinkedIn.