Invoice Submission Technology Furthers TyMetrix's Mission to Provide Intelligent Solutions that Streamline the Business of Law
TyMetrix, the global leader in intelligent solutions to better manage the business of law, today announced that it has acquired the software assets of RORA Client Systems, including the LEDESense software suite. LEDESense helps law firms translate unformatted electronic invoices into the many different Legal Electronic Data Exchange Standards ( LEDES) formats accepted by various legal eBilling systems across the globe. Terms of the acquisition were not disclosed. TyMetrix is a part of Wolters Kluwer Corporate Legal Services.
TyMetrix has acquired the LEDESense software to help law firms streamline the electronic billing process by essentially eliminating much of the administrative work around creating LEDES-formatted legal invoices. The software can also troubleshoot invoices that can be rejected or delayed by the multitude of eBilling platforms, simply for formatting reasons. LEDESense automates the process of formatting invoices and creates a seamless electronic invoice process between a law firm and its client. Law firms can count on getting paid faster and better utilize the staff hours dedicated to manually formatting and fixing rejected invoices.
The LEDES Oversight Committee has provided guidelines and standards for legal electronic invoicing since its creation in the late 1990s, but those standards consist of multiple variations. As electronic invoicing has become a mainstay in the legal industry, law firms are spending increasing amounts of time ensuring that their invoices are compliant with as many as 31 different formats required by various eBilling vendors.
“TyMetrix is a true industry innovator in that it promotes the use of intelligent solutions to create stronger, ongoing, mutually beneficial relationships between law firms and corporations,” said Rora Tanaka, founder, RORA Client Systems. “LEDESense brings real value to law firms by dramatically simplifying the process of formatting invoices, an administrative task that challenges resource-strapped law firms of all sizes. It is the perfect fit for TyMetrix as it continues to revolutionize the business of law for both law firms and corporations.”
The LEDESense platform will be especially beneficial to law firms in Europe, where the popularity of electronic invoicing is rapidly growing as legal professionals look for ways to make the billing process more efficient.
“In our mission to bring greater visibility and simplicity to the business of law, the acquisition of LEDESense helps strengthen the relationship between law firms and their corporate clients,” said John Weber, general manager, TyMetrix. “Being able to reduce the administrative tasks associated with electronic invoicing will bring not only time and cost savings to law firms, but it will also benefit corporations in how quickly they receive, review and process legal expenses.”
TyMetrix is the market leader in Web-based legal performance management solutions for corporate law departments, law firms and claims organizations. It provides clients with quality legal management software – including eBilling, matter management and performance metrics – and the expertise required to reduce costs, improve results and gain the insight required to meet their strategic objectives. TyMetrix is based in Hartford, Conn., with business operations in Chicago and London. For more information, please visit www.tymetrix.com.
About Wolters Kluwer Corporate Legal Services
Wolters Kluwer Corporate Legal Services is a business of Wolters Kluwer, a market-leading global information services company with annual revenues (2010) of €3.6 billion and approximately 19,000 people across Europe, North America, Asia Pacific and Latin America. Wolters Kluwer is headquartered in Alphen aan den Rijn, the Netherlands. Visit www.wolterskluwer.com.
About RORA Client Systems
Since 2008, RORA Client Systems has helped further the global expansion of legal electronic billing (“eBilling”) by developing easy-to-use technologies and providing best practices and implementation consulting to corporate legal departments, law firms, eBilling and legal accounting vendors. RORA Client Systems has developed products that are used by law firms both in the US and around the world. The company is based in New York, NY. For more information, please visit www.roraclientsystems.com.