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Press Release by TyMetrix in Legal / Law
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TyMetrix Launches Integrated Suite of Web-Based Tools to Help Corporate Law and Insurance Claims Departments Control Costs and Improve Performance
View all releases by TyMetrix
This press release is about: tymetrix, management, corporate, organizations, departments, performance, corporation, web-based, claims, information, law
2004-10-25, TyMetrix - TyMetrix 360° Enables Corporate Law Departments, Claims Organizations and Law Firms to Increase Efficiencies and Reduce Costs by Unifying Processes and Consolidating DataHARTFORD, CT (PRWEB) October 25, 2004 -- TyMetrix (www.tymetrix.com), the market leader in web-based management solutions for corporate law departments, claims organizations and law firms, today announced the launch of TyMetrix 360°, a new web-based tool that enables these organizations to control costs and improve performance by unifying processes and consolidating data on a single platform.
TyMetrix 360° unifies processes and consolidates data, combining an organization’s legal management data on a single, unified platform. Features include: e-billing, matter and document management, budgeting, forecasting, as well as performance and reporting tools. Reducing the need to rely on multiple and disparate systems, TyMetrix brings data together in one easy-to-use solution that integrates all other existing systems. Since all information is stored on one platform, organizations can quickly segment and analyze data such as; law firm, business unit or matter type.
TyMetrix 360° enables claims organizations and corporate law departments to capture critical metrics that drive internal and external expense management, better manage internal staff and law firm performance, strengthen engagement decisions, and increase profitability. The data gathered through TyMetrix 360° is channeled through desktop reports enabling these organizations to reduce costs, manage outside counsel and vendor relationships fairly and efficiently, and optimize their claims and law department`s work through enhanced strategic planning, law firm transactional data analysis, and enterprise-wide reporting.
“In today’s business climate, corporate law departments and insurance claims organizations are under tremendous pressure to increase efficiencies while reducing costs,” said John Weber, General Manager of TyMetrix. “TyMetrix 360° enables these organizations to consolidate their data onto one platform offering a clearer view into their entire department.”
TyMetrix 360° functionality includes:
Seamless e-billing: In addition to streamlining the submission, review and settlement of invoices, TyMetrix 360° utilizes the industry’s most powerful invoice testing engine to automatically enforce an organization’s existing rules for outside counsel and screens invoices against outside counsel guidelines, then flags or rejects any exceptions.
Case management tools: TyMetrix 360° integrates all the financial data and case documents for every matter or claim. Users can view total fees and expenses, timekeepers, case aging and budget figures for any matter.
Comprehensive reporting and data analysis tools: TyMetrix 360° incorporates powerful analysis tools that enable users to translate raw numbers into meaningful metrics and easily create and deliver actionable reports.
“In the end, an organization with easy access to management level information fosters the development of strategies, tactics, and the ability to evaluate focused performance,” continued Weber. “That kind of edge is what our clients are demanding in this era of increased competition and high internal demands for demonstrable cost savings.”
About TyMetrix
TyMetrix, a part of Wolters Kluwer Corporate & Financial Services, is the market leader in Web-based management solutions for corporate law departments and claims organizations. Founded in 1994, TyMetrix is headquartered in Hartford, Connecticut, with staff across the country. TyMetrix provides claims and corporate legal departments with web-based systems for electronic invoicing, performance management metrics, matter management, budgeting and forecasting, document management, and collaborative knowledge management. TyMetrix is a CT Corporation company.
About CT Corporation
CT Corporation, a Wolters Kluwer company, pioneered the corporate legal services industry more than a hundred years ago. Today, CT Corporation is leading the industry in developing a powerful suite of integrated workflow tools and services to help corporate legal departments and law firms realize meaningful efficiencies and increased effectiveness. These solutions are corporate governance, including corporate records management and SEC and equity compliance; corporate compliance, such as business entity and UCC compliance filings; statutory representation; and litigation management, including matter management and e-billing. CT Corporation is based in New York City. For more information on CT Corporation, please visit www.CTAdvantage.com.
Wolters Kluwer is a leading multinational publisher and information services company. The company’s core markets are spread across the health, tax, accounting, corporate, financial services, legal and regulatory, and education sectors. Wolters Kluwer has annual revenues (2003) of €3.4 billion, employs approximately 18,750 people worldwide, and maintains operations across Europe, North America, and Asia Pacific. Wolters Kluwer is headquartered in Amsterdam, the Netherlands. Its depositary receipts of shares are quoted on the Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices.
Source: PR Web™
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