SOURCE: TyMetrix

TyMetrix

August 08, 2011 09:15 ET

TyMetrix Gathers Legal Thought Leaders for Executive Advisory Summit

Representatives From Law Firms, Corporate Law Departments and Research Organizations Discuss Using Data to Manage the Business of Law

HARTFORD, CT--(Marketwire - Aug 8, 2011) - TyMetrix, the premier provider of Web-based legal performance management solutions for corporate law departments, law firms and claims organizations, gathered some of the most influential thought leaders in the legal industry for the company's 2011 Executive Advisory Summit. Speakers from law firms, corporate law departments and research and consulting organizations gathered in New York earlier this summer to discuss trends critical to leveraging data to better manage the business of law. TyMetrix is a part of Wolters Kluwer Corporate Legal Services.

As the legal industry continues to evolve, professionals are recognizing the increasing need for solid data to gain insight into their practices and make better business decisions. Presentations from the Summit echoed these developments. Joy Saphla, managing director of Huron Legal, spoke about how law departments can uncover opportunities for savings and operational efficiencies through data analysis. Specifically, Saphla discussed Huron's IMPACT methodology, which is focused on delivering sustainable savings while ensuring a balanced approach between risk and cost management. Ralph Schroeder, managing director of Hyperion Research, also discussed data use during his presentation on key performance indicators and metrics for strategic intellectual property management. Other notable discussion leaders included:

  • Lisa Damon, a partner at Seyfarth Shaw LLP, spoke about her organization's innovative strategies for transforming the typical law firm model to a data-driven model. Specifically, Damon discussed the Seyfarth Lean program, which works to continually increase the quality of legal services while driving down the cost of legal services by identifying and eliminating the inefficiencies that have become commonplace in the legal profession.
  • Daniel Martin Katz, assistant professor of law at Michigan State University, discussed quantitative legal predictions and how access to large bodies of legal data can lead to significant improvements in prediction accuracy.
  • Rees Morrison, president of Rees Morrison Associates, shared his views on industry-accepted benchmarking metrics for law department staffing and spending.

"With increasing access to larger pools of data changing the landscape of law, the goal of the Summit was to bring together preeminent thought leaders to discuss how legal professionals can prepare themselves for this change and learn to optimally work with their data," said John Weber, general manager, TyMetrix. "It's not very often that you can bring together executives from the world's leading law firms, corporations and research firms in one room, and the insight gleaned from the event was invaluable. TyMetrix is committed to pioneering this space -- providing our customers with solutions to help them stay ahead of the curve and usher in this data-driven era in managing the business of law."

About TyMetrix
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 e-billing, 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.cttymetrix.com or www.cttymetrix.co.uk.

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 EUR 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.

Contact Information

  • Press Contacts
    Stacy Nobles
    Wolters Kluwer Corporate Legal Services
    212.590.9058
    Email Contact

    Ashleigh Egan
    Articulate Communications Inc.
    212.255.0080, ext. 12
    Email Contact