SOURCE: Equitrac Corporation

Equitrac Corporation

December 02, 2010 10:00 ET

Equitrac Extends Leadership in Cost Recovery in ILTA Tech Survey

Printing Cost Recovery and Green Initiatives on the Rise

PLANTATION, FL--(Marketwire - December 2, 2010) -  For the eighth consecutive year Equitrac, a leading provider in print management and cost recovery software, has maintained its status as the leader of cost recovery software among law firms of all sizes, according to the 2010 International Legal Technology Association Technology (ILTA) Survey. Equitrac's market-leading cost recovery software, Equitrac Professional®, coupled with its dedicated legal market team, deep industry partnerships and commitment to delivering best of class software solutions for the legal market, led to Equitrac's increased market share in 2010.

This year's survey garnered responses from 464 law firms, representing over 80,000 attorneys and nearly 180,000 total users. Equitrac leads the legal market as the primary software used for cost recovery management, with 40% of respondents. This is an increase from the last two years (39% in 2009, and 37% in 2008), and is 14% higher than the second solution mentioned by respondents. Equitrac has maintained its market leadership position in every survey since 2003, when cost recovery software was first tracked.

Firms such as Archer & Greiner, a Delaware Valley firm with 175 lawyers in eight offices, have standardized on Equitrac Professional 5 for their cost recovery processes, helping to provide their staff with an easy-to-use, reliable system that provides the detailed reporting necessary to recover 75% of its document reproduction expenses. "Cost recovery is a necessity and the software has to run seamlessly for IT, our billing department and our users. Quite simply, Equitrac 'just works,' and that is the most important factor for us," said Craig Ehredt, CIO, Archer & Greiner.

According to the survey, cost recovery practices in firms continue to evolve. The number of firms incorporating costs in their billing rates rose to 9%, while the number of firms charging clients for printing expenses increased slightly in 2010. While print cost recovery is on the rise, the percentage of firms charging for all other types of expenses -- including scans, faxes, copies and postage -- has declined.

"Legal firms understand the importance of a comprehensive solution that supports their evolving cost recovery practices," said Michael Rich, CEO, Equitrac. "Our software empowers firms to take ownership of all document transactions by improving efficiency, reducing waste, and maintaining security, while also accurately tracking any client-related expense."

"Tracking and analyzing printing costs are more important now than ever before, as traditional cost recovery revenues are declining due to changing practices," continued Rich. Equitrac's print management solution can help firms monitor print activity, set print rules for associates, partners and staff, and track costs so that they don't escalate out of control.

One noticeable jump in the survey was the number of firms who stated they were maintaining green initiatives or programs, with 48% of firms responding positively, four times higher than two years ago. Equitrac has been on the forefront of green initiatives in the legal market and its print management solution helps firms monitor printing activity, reduce waste and cut the overall number of pages printed each year. In fact, firms that employ Equitrac print management solutions see an average 20-30% decrease in printing output and costs.

For more information on Equitrac visit www.Equitrac.com, email sales@equitrac.com or visit the Equitrac Blog.

About Equitrac
Equitrac Corporation is the global leader of intelligent print management and cost recovery software solutions for the corporate, legal, education, healthcare and financial services markets. Equitrac's solutions are mission critical to all enterprises that are looking to more effectively manage their printing environments, reduce printing costs, increase security and lessen their environmental impact. The company is backed by an unmatched R&D program and is a preferred technology partner with all leading providers of multifunction devices. Equitrac is has been in business for 30 years and has more than 23,000 customers in 40 countries. Equitrac's solutions are deployed in Global 500 companies, AMLAW 200 legal firms, and leading colleges, universities and school districts. For more information, visit www.equitrac.com.

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