On June 15, 2020, Lawgix Inc formally changed our name to Oliver Technology Corporation. Re-branding a company is not something done lightly: the effort to update all customers, vendors, and the broader market in which you operate is a massive undertaking, even for startup businesses. The effort must be less than the benefit you expect to receive in the future, from the market, and inside your company. In the case of Oliver, it was and is.

When Lawgix Inc was founded, our vision was focused primarily on the collections litigation space. The opportunity to help creditors increase revenue, maintain rigorous compliance, and simplify litigation was and remains a powerful idea. As we built out the capabilities for our flagship product, however, it became clear that the applicability of our idea extended far beyond collections litigation and into other compliant high volume legal servicing. Thus, the first criteria – the future – was met, as we wanted a name that was broader in scope.

Since our founding, Lawgix Inc has also worked very closely with a partner law firm, Lawgix Lawyers LLC. This unique partnership was essential to both businesses, as we were able to work cooperatively to build a solution with direct input from legal professionals well versed in the business we were entering. Over time, however, the “Lawgix” in both our names has created some confusion, as our customers and the market often mistake the software company for the law firm and vice versa. Today, the “Lawgix” name is more closely associated with the innovations of the law firm, so from a market perspective, it made sense to change the software company name.

Finally, about the name. Oliver Wendell Holmes Jr. is the inspiration for it. You can read about him here, and as we searched for a new name, we were really taken by his progressive nature and desire to modernize legal approaches. We felt Oliver Wendell Holmes Jr. was the right tone for us, striking a balance between the seriousness of our business, the compelling need to change, and a little bit of fun thrown in with his awesome moustache.

At Oliver, we look forward to the next step in our journey, and we welcome you to come along.

Here’s a great article from Ted London at FICO about what to look for in a collections platform. At Lawgix, we’re well ahead on all these points when considering how you might accelerate your legal strategy. I would highlight two items of particular note:

Automation: A core design tenent of Lawgix is automation. We leverage the most advanced workflow engine to drive efficiency, allow our customers to place and manage 4-5x more files without increasing their staff. That’s significant, and it is borne out by the experiences of our customers.

Open Architecture: As a long time B2B software professionals, we were (and still are) appalled by the closed, proprietary systems used today. In an environment of APIs and data sharing, to be locked into fixed-width data formats designed in the 1970s for use in the 1980s is ridiculous. At Lawgix, we recognize the data is yours. We can not and should not charge you to export, import, share, analyze, or otherwise gain competitive advantage from your data. We give you tight control over who can see what, but we never penalize our customers for using our system in conjunction with other systems.

It’s really great to see more focus on these critical elements across our industry. We’re confident we’ll continue to be out front of this wave.

This recent article paints another scary trend in consumer credit. $880B in debt and $31K average credit limit? We best be ready.

At Lawgix, we know the power of automating and orchestrating legal processes to accelerate throughput without sacraficing compliance. A bright attorney at one of our law firm partners read this article, and we thought we’d share it more broadly. Welcome to the party.

The old saying goes, if it’s growing like a weed, it’s probably a weed. Last week’s news from the Washington Post that personal loans are growing like a weed is a stark reminder of how good times and growing paychecks often get folks out over their skis. With an average personal loan balance exceeding $16,000, these unsecured debts now rival credit card balances.

Credit cycles are…well…cyclical. Let’s hope we move back from the brink before it cycles back around.

This article from MarketWatch is an interesting discussion about the return of cashout refis in the high end real estate market. With a weakening housing market, we could quickly find ourselves in another 2007-8, though on a smaller scale. However, those that find themselves underwater or nearly so could throw a large number of high value charge-offs into the market.

This article from the Wall Street Journal details how some 33% of auto loans are now “underwater”, as the loan for one car is rolled into the purchase of another. The levels now exceed anything seen historically, even in 2008.

If there’s a turn in the credit cycle, creditors are headed into uncharted territory with the number of auto deficiencies – and their size relative to asset value – that will need to be addressed. Hopefully, the situation will improve before the cycle turns for everyone’s benefit.

We’ve just launched our revised Lawgix Inc. website, and we welcome you to take a stroll through the pages. Historically, Lawgix Inc. and our sister law firm, Lawgix Lawyers, LLC, have shared a common space. However, given the growth of both, that no longer suited our needs.

The goal of our new site is to inform and engage. First, we want to inform visitors about our vision and how our current solution, Lawgix Collections Litigation Exchange (CLX), takes us towards that vision. Additionally, we want to share How It Works. If you understand how we view the problem and our approach to solving it, everything makes more sense. Finally, we also wanted to share a bit about ourselves. Everyone spends a huge portion of their lives “at work”, but there’s no reason we can’t learn about each other, build lasting relationships, and find common ground.

The one gap in our story right now is our Customer Success pages. We have not formalized our success stories just yet; we’re simply too busy making our customers successful. However, we do plan to roll out those stories over the coming weeks and months. So, please come back and read them as they arrive.

We also hope to use the site to engage with customers and prospects. On virtually every page, we invite you to reach out to us. Per our values and culture, we want the experience with Lawgix to be personal and direct. So, we encourage you – here and on our pages – to contact us, early and often.

We look forward to your feedback, which you can send as you might expect through the forms, or just drop us a line at info@lawgixlaw.com. Thanks for your visit.