SOURCE: TyMetrix


September 24, 2013 08:30 ET

Law Firms Gain Competitive Advantage for Business Growth With $45 Billion of Data From TyMetrix MatterAnalyzer

Instant Access to Legal Pricing and Staffing Data Allows Firms to Set Informed Benchmarks

HARTFORD, CT--(Marketwired - Sep 24, 2013) - TyMetrix, the global leader in intelligent enterprise legal solutions for mastering the business of law, introduces a groundbreaking solution to help law firms stay ahead of competitors, win more business and secure ongoing profitability. MatterAnalyzer is the new TyMetrix web-based technology and the most powerful tool to instantly access legal performance data. It places information on pricing and staffing at legal professionals' fingertips to help address heightening cost and time pressures in today's competitive legal market. This allows firms to determine how they can operate more profitably, compare against industry standards to compete more effectively, and quantify their value to new and existing clients.

The power behind this technology is LegalVIEW®, TyMetrix's permission-based contributory warehouse of legal performance data, and the largest database of its kind in the world. It is comprised of over $45 billion in anonymous data generated from actual billed invoices. It receives voluntary data from over 17,000 law firms and vendors, as well as 286,000 timekeepers, amounting to over 398 million hours of legal services and 105 million activities captured.

"Tools such as MatterAnalyzer can help deliver insight for law firms to truly understand the current marketplace environment. This is critical for firms that want to analyze their pricing and determine how competitive they are in the market," said Chris Emerson, Director, Practice Economics Group, Bryan Cave LLP.

"MatterAnalyzer is the only standalone tool in the enterprise legal management industry that can help law firms price matters better, verify how to best staff these matters, and determine which matter activities need to be completed," said Craig Raeburn, managing director, TyMetrix Legal Analytics. "It is light years ahead of anything else in the market in its capacity to help law firms enhance and improve the value of their legal work."

MatterAnalyzer was designed after extensive research and interviews with legal professionals from both law firms and legal departments to determine how they can improve their value proposition in the new normal of evolving legal industry requirements. It was then modeled around these concerns, which are:

  • Understanding of pricing and staffing to operate profitably and grow margins.
  • Comparing against industry staffing and pricing models amongst competitors.
  • Articulating value proposition, positioning to clients and securing new business.

By providing real invoice data on legal fees, hours, allocation and rates, MatterAnalyzer helps law firms set informed benchmarks for managing their operations. To access this information, users can input variables into the system to evaluate pricing strategies, calculate fee arrangements, and improve budget predictability. Data can be further broken down by practice area, matter type, geography, firm size, and many other variables. At a time when legal professionals face constant pressure to drive down rates and costs, this information is critical. The fact that MatterAnalyzer makes this available immediately saves users countless hours they would have spent manually searching for the data they need. MatterAnalyzer also keeps up with the evolving work styles of today's legal professionals via its mobile application. Law firms can easily identify patterns, trends and anomalies in legal data anytime and anyplace.

For more information on MatterAnalyzer, visit

About TyMetrix
TyMetrix is the global market leader in delivering intelligent enterprise legal management solutions that empower corporate legal departments, law firms and claims organizations to manage the business of law. It provides clients with quality legal management software, services and solutions, including spend and matter management, collaboration, performance metrics, and the expertise required to manage risk, reduce costs and gain the insight required to meet their strategic objectives. Its TyMetrix Legal Analytics service combines unparalleled analytical and legal domain expertise with LegalVIEW® -- the world's largest permission based contributory data warehouse of legal performance data -- to provide predictive and analytical models, benchmarking and insights to legal departments and all professionals involved in managing the business of law. TyMetrix is part of Wolters Kluwer Corporate Legal Services. For more information, please visit

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