Research in Action examines the legal tech market and identifies STP as the market-leading provider of law firm management software
Karlsruhe, July 12, 2023 – In Research in Action’s latest Vendor Selection MatrixTM, STP is one of the two top-selling vendors and the sole winner in the DACH segment for law firm management software. Based on these results, the analysts predict an excellent future for STP.
Research in Action regularly surveys more than 10,000 IT and business executives to gain insights into strategies, investments and challenges of technology innovations in the field of IT and marketing automation. This survey is the basis of what is known as the Vendor Selection Matrix™. For the current report on the most important legal tech solutions, the analysts surveyed 750 lawyers and partners in the DACH region. The providers with the best customer ratings were included in the detailed study.
STP achieved top marks and a high recommendation index both in terms of strategic orientation on vision & marketing, innovation & differentiation, stability & revenue power. But the results were also above average regarding the questions on implementation, i.e. the breadth and depth of the solution portfolio, market share, growth potential and value for money.
Research in Action’s assessment states, “STP has several law firm software solutions on the market, due to a series of acquisitions. This disadvantage was recognized by STP and product harmonization is well underway. The current portfolio coverage and future portfolio direction are very good. The law firms particularly appreciate STP’s service orientation. The customers in our survey gave STP the highest score for both client satisfaction and value for money.” From this, the analysts derive a fundamental leadership claim: “STP scores with strong know-how in the digitalization of law firm processes and a deep understanding of current and future customer requirements. As a result, the company achieves high customer satisfaction and will continue to establish itself at the top of the law firm software market long term.”
Fabian Henzler, VP Product at STP Group: “With our solution portfolio, we want to facilitate legal work and help law firms and lawyers to set up their processes and structures in a future-proof way. Customer feedback plays a very important role for us, as we have always been very close to the clients demand when developing our solutions. This is one of our fundamental success factors and has certainly helped us to score so well in the Vendor Selection MatrixTM compiled by the analysts at Research in Action.”
More information about the Vendor Selection MatrixTM for law firm management software can be found here: https://www.stp-online.de/referenzen/vendor-selection-matrix/
About Research in Action
Research In Action GmbH is a leading independent research and consulting firm in the field of information and communication technology. The company offers both future-oriented as well as practical consulting for companies and solution providers. More information here: researchinaction.de/
The STP Group, headquartered in Karlsruhe, Germany, is a leading provider of complete legal-tech solutions that drive the digitalization of lawyers, insolvency administrators and notaries. The company offers a fully integrated legal tech platform that includes workflow automation, AI-based document management, ERP software, data management, and specialized software-based outsourcing services. STP’s solutions are deeply embedded in the legal services, insolvency and business law ecosystems. STP employs over 300 people at locations in Germany, Austria, Switzerland and Bulgaria and provides more than 7,000 customers with software and relevant services for their daily workflow. More information here: stp-online.com