HARTFORD, CT--(Marketwire - Jan 28, 2013) - TyMetrix, the global leader in intelligent solutions for managing the business of law, announced today that LegalVIEW®, the largest contributory warehouse for legal business data, grew 75 percent, from $23 bn to more than $40 bn, in 2012. LegalVIEW is part of TyMetrix Legal Analytics, the only solution available that gives legal professionals insights into their own data and performance, as well as industry-wide benchmarks, historic trends and predictions. The continued growth of LegalVIEW further establishes TyMetrix as the market leader with the largest, deepest, and most granular benchmarking dataset available in the industry.
"The continuing growth of LegalVIEW brings unparalleled depth and insights to legal professionals looking to more accurately predict and plan for the future," said Craig Raeburn, managing director, TyMetrix Legal Analytics. "We've seen repeatedly that law firms and legal departments that manage the business of law with fact-based insights put themselves in the best position to thrive and control their future in the legal industry. As our warehouse continues to grow, it'll continue to be the go-to source for these firms and legal departments looking to better manage their businesses and gain competitive advantage."
All data in LegalVIEW is generated from actual invoices, not surveys. The granularity of the data insights are offered across multiple dimensions including: Industry; Practice Area; Matter Type/Sub-Type; Matter Phase; Task & Activity; Matter Duration; Staff Allocation; Timekeeper; Geography; Firm Size; Years of Experience; Hours; Rates; and Fees. See attached infographic for more information on the data inside LegalVIEW.
TyMetrix, a part of Wolters Kluwer Corporate Legal Services, has spent more than a decade gathering billions of dollars in legal spend and performance data from legal organizations around the world. The most significant aspect is that all of the data is -- and remains -- anonymous. The anonymous, open contributory model of LegalVIEW allows not only TyMetrix clients to contribute to the data warehouse but also corporations, law firms, and third-party sources using competitive products, internal systems or a combination of multiple systems. There is no cost to contribute data and, in return, contributors receive special access and discounts to Legal Analytics products and services including a complimentary copy of the 2012 Real Rate Report®, the legal industry's only benchmark report for law firm rates using actual legal invoice data.
For more information on how TyMetrix Legal Analytics combines big data, critical expertise, and intuitive tools to deliver business intelligence and benchmarking solutions for corporate law departments, claims organizations and law firms, go to www.tymetrix.com/products/legal-analytics.
TyMetrix is the global market leader in delivering intelligent 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 e-billing, matter management and performance metrics, and the expertise required to manage risk, reduce costs and gain the insight required to meet their strategic objectives.
TyMetrix Legal Analytics, a complementary business to TyMetrix's core software offerings, 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 www.tymetrix.com.
About Wolters Kluwer Corporate Legal Services
Wolters Kluwer Corporate Legal Services is the leader in legal process and business performance management. It delivers the people, products and processes to drive transparency, ensure accountability and provide organized, accurate and actionable information for legal, financial and insurance professionals. CLS's business brands -- CT Corporation, NRAI, BizFilings, Corsearch, CT Lien Solutions and TyMetrix -- empower organizations to make better business decisions and be more efficient in today's highly transparent business environment.
Wolters Kluwer Corporate Legal Service is a part of Wolters Kluwer, a market-leading global information services company. Wolters Kluwer had 2011 annual revenues of EUR 3.4 billion, employs approximately 19,000 people worldwide, and maintains operations across Europe, North America, Asia Pacific, and Latin America. Wolters Kluwer is headquartered in Alphen aan den Rijn, the Netherlands. Its shares are quoted on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Visit the Wolters Kluwer website for more information.