Advopass finds an answer to the ultimate question on a lawyer’s mind: “How much an hour of my work really worth?” Advopass takes the ordinary time sheet programmes that law firms use to a different level by providing the managing lawyers an intelligent metric on their law firm’s financial performance. Advopass also enables law firms to track their associates’ performance and manage the tasks assigned to them. Moreover, law firms can create detailed and intelligible reports to their clients in a blink of an eye.
The MVP and the beta version of the Advopass was completed and 25 test customers provided feedbacks to the MVP and the Beta version. We are currently working on the version 1.0 which is expected to be online in early September 2021.
The target customer segment is Small and Medium sized law firms and solo law practitioners. Our target market consists of around 1 million lawyers in the Europe and 1.3 million lawyers in the USA. Our test market Turkey consists of around 150k lawyer that can use our solution.
Problem or Opportunity
Opportunity: Legaltech is a relatively less crowded area in tech business and it is growing rapidly. We had/have the opportunity to test our solutions in local market (Turkey) before the planned expanding to Europe and the USA.
Solution (product or service)
Lawyers suck as running companies and law firms are not managed like companies as they should. Advopass offers a unique solution to provide detailed and intelligible matrics to law firm managers in terms of calculation of the financial performance, team efficiency, pricing and reporting.
We do not believe we have a direct competitor in our market segment and the value that Advopass will add to law firms. However main quasi-alternatives are Clio, Rocket Matter, Aderant, Casefy.
Advantages or differentiators
Our main advantage is Advopass' both co-founders are lawyers. We know the aching point to run a law firm and we can funnel our experience to the solutions Advopass provided. Our main differentiator is we focus on the small and medium sized law firms and solo practitioners where bulk number of the law practitioners are employed, whereas most legal tech companies are after big law firms.
Advopass is a SaaS platfrom and the main revenue stream is monthly subscription fee and the main costs are human resources and marketing.
We are planinng to charge a montly fee of EUR 9,90 to solo practitioners, and EUR 59,90 to law firms up to 10 lawyers and EUR 99,90 to law firms up to 20 lawyers.
Money will be spent on
Development of the software and marketing expenses and employee wages.