Brisbane-based startup Lawcadia makes a strong case for disrupting the legal industry.
Moving into Brisbane innovation hub The Capital this January, Lawcadia had six full-time employees. Now it's a 12-strong team and a finalist for the ANZ Award for High-Growth Business Start-up at the Lord Mayor’s Business Awards.
What’s the problem Lawcadia is solving for the legal industry?
"We help corporate, government and clients with the procurement and management of legal services. The key pain point is transparency of spend," said CEO and founder Warwick Walsh.
"It’s very difficult to estimate fees. Clients are often required to go through tender processes to appoint law firms and justify spend – ensuring there’s integrity throughout the tender process and tracking the spend and any changes to scope. Legal matters often go on tangents, and control over that scope is not managed well which is a real frustration for clients.
"For law firms, the number one frustration is finding new business, winning new work, getting a share of work from their existing clients. The structure that we have in place benefits law firms from that perspective as well.
"We’ve got corporate clients in government, insurance, infrastructure as well as law firms. We have most of the top and mid-tier law firms registered on our platform in Australia. This diversity of industry really shows the pain points that we’re addressing span across industries and validates what we’re doing."
Why build your business in Brisbane?
"Brisbane really fosters entrepreneurs. There’s a lot of energy in The Capital, a lot of people starting technology businesses looking to push the ways things are done and to innovate in different industries.
"The Capital is a great space. This is the sort of space that Brisbane really needed. You can see people starting off with an idea with one or two people and scaling without having to rent office space. It’s really professional – we have a lot of law firms and clients visit us here and we always proudly show them around. Not just where we’re based but the events and co-working spaces as well.
"It's an incredibly innovative environment, very forward looking."
Favourite app right now?
"From a business perspective, we use Trello and Slack a lot. Personally, Rooster Money is a really good one. It’s a really simple app to manage your kids’ pocket money. I have an eight-year-old and a six-year-old and you can use it like a virtual bank account."
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