After launching in 2013, IPfolio found early traction among small IP groups and solo IP managers as an IP portfolio and invention management information system. They loved that it offered flexibility, customizability and user-friendliness—characteristics not typically associated with competing vendors. IP teams at larger companies soon took notice, and IPfolio’s sales team started scheduling more demos with NYSE and Fortune 500 names. As the potential to help larger companies grew, the product roadmap evolved. With the growth in functionality and integrations, the “typical customer” also changed; the majority of IPfolio’s new customers are now publicly traded companies funding significant R&D and IP programs.
One of the key reasons why IPfolio has become so popular among innovative companies is the very nature of the category; IP management is a niche market. During the last 25 years, companies have had a limited choice of closed proprietary systems offering a comparatively poor user and fiscal experience. Customizing default configurations, creating unique workflows and interfacing with other IP services and tools are frustratingly difficult and expensive.
IPfolio’s Vice President of Enterprise Solutions Damian Durrant sees a huge opportunity; “IP departments turn ideas into assets that help an organization survive and prosper. We help companies engage their inventors and manage IP more strategically, without creating huge IT projects with massive upfront and future costs. They can identify what’s important, then create IP protection in the form of patents, trademarks, copyrights, and brands.”
A true cloud-based product, IPfolio’s customizability and flexibility stand out in the marketplace. Myriad point-and-click configuration options, and streamlined and reliable data migration ensure that each customer gets exactly what they want without spending millions or waiting years. The exact IP workflow and the ability to instantly customize dashboards and reports are central to the customer experience.
We help companies engage their inventors and manage IP more strategically, without creating huge IT projects with massive upfront and future costs
During sales meetings, Durrant frequently emphasizes this “you don’t have to fit into our system; our system fits around you” advantage and low Total Cost of Ownership data.
Once up-and-running, IPfolio customers gain access to richer business insights while enjoying full control and visibility of their entire portfolio, activities and costs. Data translates into action as visual dashboards and one-click reports help IP leaders make faster and better decisions. As one European IP manager reported, “with IPfolio, I know instantly whether we are winning.” He’s one of many customers running a global, multi-office IP operation using IPfolio’s online collaboration tools.
With the core product functionality expansion, IPfolio has also evolved into an industry platform. Integration with USPTO’s Private PAIR service enables IPfolio customers to search all US patent prosecution information. (European and Chinese patent data and US trademark data will be added in 2017). APIs integrate with many back-end applications, such as the HR suite from Workday (itself an IPfolio customer). Finally, a growing number of partnerships with complementary technology and service companies such as ipan (annuities and renewals), LumenIP (docketing and prosecution management), SimpleLegal (e-billing), and Conga (document generation and reporting) are expanding an elegantly simple and integrated IP ecosystem.
Is it surprising then that so many companies developing the technologies of the future; from clean energy and autonomous mobility, to artificial intelligence and personalized medicine, are using IPfolio to protect them?