Monday, April 14, 2014

A New Era of Risk Management – Intapp Acquires the Frayman Group



Today, Intapp announced the acquisition of the Frayman Group (TFG), a company offering risk management software for law firms. With this move, Intapp further extends its position as the leading provider of risk management software for the legal industry, offering broadly adopted products that streamline new business intake, conflicts management, information security and professional compliance.

Said Intapp CEO John Hall:
  • "We are very excited about this acquisition, which is a major milestone for law firm risk management software. Intapp customers will benefit from an even stronger risk management offering as we integrate TFG technology and staff and continue to make significant investments to advance our products."
  • "At Intapp, our mission is to cultivate a position of trusted partner and advisor to our more than 500 customers, offering innovative software and services that enable them to thrive in an increasingly competitive business environment."

Said TFG Founder, President and CEO Yuri Frayman:
  • "With these two organizations coming together, there’s now no other vendor in the market today with a more skilled team, greater insight into legal risk management, a more ambitious product roadmap, or ability to execute."
  • "As I turn to pursue opportunities outside of the legal industry, I see a bright future ahead, both for my customers and the industry as a whole, under Intapp’s leadership."
TFG – An Intapp Company
TFG will continue to operate as a subsidiary of Intapp. In that capacity, it will deliver support to organizations that have licensed TFG products for managing new business intake and workflow (Compliguard Flow), client conflicts (Compliguard Analyze), and ethical walls (Compliguard Protect).

An OpenText Development and Services Partner, TFG will also continue to support organizations with valid support contracts for LegalKEY, an OpenText software product launched in 1994, used for conflicts and records management.

As part of the transaction, Intapp takes ownership of all TFG intellectual property, including patents and software assets, and will incorporate elements of this technology into Intapp business intake, workflow, conflicts management and other products.

The Intapp Risk Management Vision
Today, mounting market forces are putting new demands on law firms to transform the way they operate in order to prosper in an extremely competitive environment. These include clients with escalating service expectations, increasing economic pressure, and a risk landscape marked by evolving regulatory rules, compliance requirements and professional standards.

Controlling risk is just one of several ways Intapp enables firms to thrive in response. Offering unique software products, Intapp lets firms align business operations with firm strategy, while bridging the gap between compliance and efficiency:
  • Intapp Open provides a fresh and innovative approach business intake, client due diligence and conflicts management.
  • Intapp Wall Builder centralizes enforcement of information security and internal access rights across electronic information repositories in response to professional rules, client mandates and regulatory requirements.  
  • Intapp Activity Tracker delivers sophisticated, intelligent monitoring and reporting to flag abnormal access or use of sensitive firm or client information, to satisfy a variety of compliance requirements.
  • Intapp Time integrates the industry’s most adopted time entry, automated activity capture and mobile time recording software, delivering a single, unified experience that delivers real-time e-billing validation and compliance at the point of entry. 

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