SOURCE: Mitratech

Mitratech

October 25, 2010 07:00 ET

Mitratech Expands Reach Into EU In-House Community at IQPC Corporate Counsel Exchange Conference in The Hague, Netherlands

Automating Legal Operations and Compliance Management for Users in More Than 150 Countries, Mitratech TeamConnect's Rich Platform and Key Internationalization Features Bring Full Visibility Into Global Matters, Risks, Expenses, and Performance for the European GC

LOS ANGELES, CA--(Marketwire - October 25, 2010) -  Mitratech, the leader in Collaborative Accountability applications including matter management, e-Billing, and GRC management automation, today announced widening its global footprint and participating in the IQPC Corporate Counsel Exchange Conference, October 24-26, 2010 in The Hague, Netherlands. Corporate counsel from across Europe will learn how to leverage a proven platform strategy to gain transparency across the global enterprise, full visibility into legal operations and cross-currency spend as well as governance, risk and compliance.

Faced with recessionary pressures and evolving regulations, European enterprises are looking to streamline legal operations by standardizing and automating legal processes, cutting operational costs and outside counsel expenses, and improving overall collaboration for greater efficiency, productivity, knowledge capture and reuse. In an IQPC survey, leading European General Counsel outlined their key priorities for 2010 and beyond:

  • 87% of respondents need to improve legal spend management
  • 77% are looking to find effective knowledge management processes
  • 75% have to focus on improving relations with outside counsel
  • 70% are dedicated to improving litigation management and e-Discovery
  • 70% want to explore outsourcing opportunities with legal process outsourcing providers (LPO's)

At the conference, Mitratech executives will meet with European General Counsel on an individual basis to provide insights into how implementing a platform strategy meets these objectives. Discussions will focus on how to:

  • Manage spend through e-billing, budgeting and financial tools that allow in-house counsel to review and manage expenses in their local currencies with full visibility into costs. 
  • Leverage dashboard reports that aggregate total spend information across currencies for the General Counsel's office. 
  • Enable collaboration among in-house counsel, outside counsel, and LPO's across globally dispersed offices.
  • Reduce redundancy and improve service quality through a central knowledge library for secure information capture and sharing.
  • Automate compliance with local tax regulations and other regulatory compliance concerns.
  • Obtain full visibility into legal matters and risk, allowing legal and executive management to analyze reports and trends, make informed decisions, and enhance their organizational value through improved quality of service.
  • Achieve business agility with platform technology that quickly and easily adapts to new regulations and business demands in Europe and abroad.

As the fastest-growing global legal operations platform, TeamConnect is already used by more than one-quarter of the Fortune 500 legal departments with an impressive network of law firms, including: 100 percent of the AmLaw A-List, 99 percent of the AmLaw 100, and 93 percent of the AmLaw Global 100. With users in more than 150 countries, TeamConnect is uniquely positioned to provide full visibility into global matters (litigation, transactions, and contracts), risks, expenses, performance, and compliance issues. Key features for the international organization include:

  • Localized User Experience: Users can designate local currencies and date/time formats, and the system flexibly manages local government assigned IDs, addresses and postal codes, telephone number conventions and numerical conventions.
  • International Matter Management and e-Billing: A command center for legal operations, offering the ability to lead team efforts, coordinate tasks and direct how resources are utilized while maintaining deep visibility into legal spend and measuring the value conferred by outside counsel.
  • Support for VAT and other international taxes: Responds to EU VAT Directive for e-Billing.
  • Multi-currency Features: Ability to view and manage budgets, financials, rates, and expenses. Executive Dashboards easily aggregate multi-currency data across global offices.
  • Platform Flexibility and Reporting: Addresses each country manager's unique "must-haves" in terms of system needs and reporting requirements while ensuring that standard workflows, rules and business processes cross borders smoothly and seamlessly.
  • Governance, Risk and Compliance Management: A centralized system to manage local and global regulations, policies and procedures, loss, events and investigations as well as anti-trust, ethics, export controls, information security and privacy, data loss prevention (DLP), records retention and HR-related issues.

"The rising tide of European and global regulatory and operational demands requires a proven and mature platform that meets a broad spectrum of today's needs and can grow to meet future ones," said Afshin Behnia, Mitratech CEO. "TeamConnect has already proven itself with users across the globe and is meeting such diverse demands as globally managing legal matters and spend, strengthening attorney-client relationships and supporting efforts such as multi-authority regulatory reporting requirements, VAT and legal process outsourcing, all while offering a user experience that is customized for every country and culture. We are excited to work with European GCs to bring these benefits to their organizations." 

About Mitratech
Mitratech provides market-leading Collaborative Accountability Applications for businesses and their trusted partners. With team-oriented domain applications in legal process automation, governance, risk, compliance and security, Mitratech's TeamConnect® Collaborative Accountability Suite improves transparency of financial reporting, reduces exposure to risk, sharpens operating discipline, improves information security and the efficiency of enterprise processes. Our Collaborati browser application also meets the accountability and collaboration needs of proliferating extraprise teams, wherein vendors, partners and service providers often have to be included in sensitive teamwork projects such as electronic billing, legal hold and collaborative budgeting, or those which expose your business to liability. To learn more, visit http://www.mitratech.com.

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