"Atticus reduced the overall (verification) time by more than 60% compared to the old manual methods."

The challenge

Prior to using Atticus, verifications at Piper Alderman would be conducted manually using footnotes to identify statements and attribute supporting documents. Partner James Dickson explains the drudgery of the old verification methods: “manual verification is time consuming and needs to start on early drafts of documents. Attributing statements is more time consuming when done by email. Tracking verified, unverified and statements requiring re-verification is labour intensive, especially where multiple drafts are verified”.

The Piper Alderman team had to conduct the verification of the IPO prospectus under a very tight deadline. Atticus was adopted by James’ team for the verification of the prospectus with an aim to expedite and simplify the process and to provide a clear and efficient communication platform for users to work collaboratively.

Piper Alderman’s adoption of Atticus fits within its broader technological aims. “We aim to employ new technologies for use in our business to ensure that we’re continually adopting technology that is capable of improving the efficiency of transactions. Atticus adds efficiency to the verification process,” insists James. 

The solution

The success for Piper Alderman

quality process & reporting

Atticus had to meet the high standards of reporting and client service offered by James’ team. It did. “Our goals are to always provide the highest quality product at a competitive price and in a timeframe that meets our clients’ needs. Atticus allowed us to meet our clients’ very tight timeframe and removed the inefficiencies of manual verification, allowing us to start verification later, complete it in a reduced timeframe and delivery a verified product faster”.

time saved

Atticus allowed Piper Alderman’s verification process to be cut down to a week and a half, and on a reduced number of drafts. This saved many hours over the verification process and likely reducing the overall time by more than 60% compared to the old manual methods.

ease of client adoption

Piper Alderman’s client found that the Atticus platform was easy to understand, and liked that they were able to upload supporting documents and communicate with their lawyers through Atticus. This meant that “we needed to engage less with the client than we would ordinarily do for a verification,” according to James. “Atticus allowed us to more easily manage the process, including by being able to provide regular and accurate updates on the progress of the verification”.

The future

Piper Alderman has a focus on identifying and adopting new technologies that improve the efficiency of the high-quality service that they provide. James explains that “adopting Atticus aligns with this strategy and simplifies the verification process for our clients”. 

After the IPO verification Piper Alderman adopted Atticus on an annual subscription, providing its lawyers the opportunity to better service their clients’ verification needs across a broader range of disclosures including investor presentations, PDSs, IMs, scheme booklets, and ASX announcements.