While the U.S. legal industry is vying for more affordable access to various services and technology, entrepreneurs such as Dahiwadkar are finding better ways to implement ‘Do-it-Yourself’ alternatives for many standard legal tasks. “Today, the best of the legal sector is looking at different ways to adapt to the constantly changing regulatory landscape. This adaptation is the biggest challenge in any SaaS platform,” says Dahiwadkar, president and CEO, IndiSoft. To prevail over the challenge, IndiSoft launched the RxOffice platform, a comprehensive solution that provides customizable document management, workflow, and reporting functionality. “We believe in offering secure communications technology and infrastructure that enables transparent and real-time communication to accelerate the decision and execution process,” Dahiwadkar adds.
IndiSoft offers an array of web-based software solutions for the financial services industry, spanning compliance, mortgage, counselor case management, valuations, vendor management, and fore-closure. In an effort to simplify the process of binding documents legally, IndiSoft initiated RxOffice Law Firm Portal, a software solution to customize workflow based on specific business processes. “The heart of the system is based on case management, workflow, and secured communication to ensure it can meet the unique needs of the users. The software is aimed at attorneys who are not as well versed with technology as IT professionals. The user interface is simple, which makes it easy-to-use,” Dahiwadkar explains.
Managing the confidentiality of the data is another tricky issue in the legal sector. In light of the hacking that companies have been experiencing lately, IndiSoft also offers a complimentary tool, WipeOut that will destroy sensitive data to enable companies to remain compliant with data destruction regulations.
Dahiwadkar shared an interesting scenario where a leading law firm approached IndiSoft with a challenge to streamline their business processes. The problem was with the firm’s existing technology, which was linear and required a huge workforce to be in place to match the business growth. IndiSoft implemented its flagship RxOffice, which resulted in a 300 percent efficiency gain. The law firm’s bankruptcy department that handled 660 cases per year with two lawyers and 12 paralegals can now manage 1,000 cases with one attorney and five paralegals. “Our philosophy is simple—technology should learn the business, not the other way. We try to make our technology as transparent as possible,” Dahiwadkar continues.
IndiSoft is the only true collaborative platform in the U.S. financial industry today, according to Dahiwadkar. “It connects real time with different participants of various business transactions.” He also points out three factors that enable the company to remain ahead in the market: efficiency gains and user satisfaction, collaboration with external stakeholders, and control and consumability.
In the company’s vision for the future, entails focusing strongly in the U.S. market. “Currently, we are specialized in all financial- and immigration-related regulations; we want to expand it to all aspects of legal technology. Dahiwadkar also reveals that in a few years, he would like to extend IndiSoft’s reach to markets in other countries.