Harper Macleod LLP Case Study
We caught up with Craig McKerracher (pictured right), a Partner in the Corporate team at Harper Macleod LLP, to find out more about their use of DoxShare Legal Data Room and the impact it has had on their client service.
Please provide some background about Harper Macleod LLP
Harper Macleod LLP is a Scottish commercial law firm which has a headcount of approximately 400 people – it’s one of the largest law firms headquartered in Scotland. Whilst being based in Scotland and having a Scottish focus, we have clients and ambitions to continue to grow in the UK and further afield.
I am one of 14 Partners in the Corporate team at Harper Macleod LLP and advise family-owned and owner-managed businesses on a range of corporate issues including management buy outs, joint ventures, mergers, acquisitions and disposals.
How did Harper Macleod LLP find out about PDMS and DoxShare?
Curiously enough, PDMS were a client of Harper Macleod LLP during an acquisition it made in Scotland. As part of this we used DoxShare as it was a far quicker way of sharing documents with the PDMS team based in the Isle of Man than via paper or CD’s, as well as the benefits of remote access. More and more transactions our firm deals with require an electronic Data Room of some form, reflecting changes in our clients and the wider legal industry.
Since then we’ve been using DoxShare as an electronic Data Room in other merger and acquisition transactions.
How did Harper Macleod LLP previously manage its documents?
Harper Macleod LLP has its own internal file management and case management systems. However, we had a requirement for a product where we could securely share data during mergers and acquisitions on a transactional basis at a price point that would be acceptable to our SME client base. This product is an important part of the due diligence process as it maintains a complete index of all the documents shared by the seller(s) with the buyer relating to a transaction.
As a firm, we are always keen to be as paperless as possible and are always looking to improve client service.
Why did Harper Macleod LLP select DoxShare and how does it compare to other solutions on the market?
The selection of DoxShare ultimately followed the successful acquisition in Scotland which we delivered for PDMS.
Harper Macleod LLP have experienced a variety of other solutions from reasonably sized players, but we had an issue with the price point of other Data Rooms providers – they were just far too expensive. When handling a merger or acquisition of the size and scale that reflects our firm’s core market, an electronic Data Room costing around £5,000 to £8,000 is just unworkable – but DoxShare’s price point is right.
DoxShare’s security credentials were also very persuasive – particularly PDMS’ endorsement by the UK Government through its Cyber Essentials certification. I also found that PDMS’ knowledge gave me real confidence in the product.
DoxShare is a solution to a problem that a number of medium sized law firms have in respect of merger and acquisition transactions, it’s at the right price and provides good levels of security.
What are your thoughts on working with PDMS and the ease of setting up the solution?
PDMS have a really responsive team. Within a day of initial contact we can be up and running with an instance of DoxShare – which is critical within a time pressured merger or acquisition. It has also been very beneficial to have the ability to easily switch off external access at any point or when a deal is closed.
What is your favourite or the most useful DoxShare feature?
As previously mentioned, the ability to get an instance of DoxShare up and running quickly for new merger or acquisition and then securely switched off once a deal is closed are of key importance.
Operationally, the interface of DoxShare is very “clean” and professional looking which is important to us from a presentational point of view in respect of our clients as well as the other legal and financial advisers involved in the transaction. Additionally, the ability to incorporate our own branding on DoxShare is a nice touch.
Impact and Benefits
What impact has DoxShare had on clients?
Using DoxShare has definitely improved the service that we deliver to clients – it is something that both clients and ourselves can easily use. DoxShare has clean design and is user friendly.
How is DoxShare viewed within the firm?
The Corporate team at Harper Macleod LLP have several instances of DoxShare running on various transactions at the moment. PDMS recently provided the Corporate team with a test site to allow people who have not used DoxShare before to get to know the product. It’s gaining more and more momentum and increasingly used throughout the Corporate team at Harper Macleod LLP.
DoxShare has certainly become our go-to Data Room solution and is the preferred choice within the Corporate team here at Harper Macleod LLP. As time goes on, I see no reason why that will not expand through other departments within the firm where there is such a requirement on a transactional basis.
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