CT TyMetrix Successfully Completes Initial UK Rollout of CT TyMetrix 360 with Clients, Including BP -- Culminates Year of "Firsts" for CT TyMetrix in UK.Company at the Forefront of Global Legal E-Billing; Looks to Continue Expansion in 2008 HARTFORD, Conn. & LONDON -- CT TyMetrix, the global leader in Web-based law department management solutions, today announced that it has successfully completed the UK launch of its flagship product, CT TyMetrix 360 for several of its UK clients, including BP. Implemented in June 2007 in the UK, CT TyMetrix 360 now supports its UK clients by providing a global law department management system that helps them manage their matters, finances and performance. Because of regulations like the Companies Act and Sarbanes-Oxley, it is critical that law departments have governance mechanisms in place for the management of risk and spend. Around the world, law departments are turning to CT TyMetrix to help manage their exposures budgets and legal spend. In addition to being the first legal e-billing provider with a fully functional solution in the UK, CT TyMetrix is the only vendor to successfully accept invoices formatted in Legal Electronic Data Exchange Standard The Legal Electronic Data Exchange Standard is a set of two file format specifications intended to standardize bill/invoice data transmitted electronically ("e-billed") from a law firm to a corporate client. It is abbreviated LEDES, and usually pronounced as "leeds". [TM] (LEDES) XML XML in full Extensible Markup Language. Markup language developed to be a simplified and more structural version of SGML. It incorporates features of HTML (e.g., hypertext linking), but is designed to overcome some of HTML's limitations. version 2.0 -- the de facto standard Hardware or software that is widely used, but not endorsed by a standards organization. Contrast with de jure standard. de facto standard - A widespread consensus on a particular product or protocol which has not been ratified by any official standards body, such as ISO, for global legal transactions. The first invoices, which were received from the UK law firms Wragge & Co LLP LLP - Lower Layer Protocol and Herbert Smith LLP, leveraged extended conversations with the UK's leading law firms about the correct method for handling the complexities of VAT and tax handling. "CT TyMetrix is proud to contribute to our clients' success in the UK and abroad," said John Weber, general manager of CT TyMetrix. "With the initial launch of CT TyMetrix 360, our locally-based team has demonstrated a deep understanding of the requirements of UK law departments. Of course, we are also extremely proud to have added to our long list of 'firsts' in the legal technology space." CT TyMetrix will continue to bring its subject matter expertise to UK corporate legal offices through an ongoing Thought Leader Seminar series. It has joined forces with fellow Wolters Kluwer companies Kluwer Law International and CT Summation to provide free, half-day seminars. The next seminar, to be held Feb. 5 at London's One Aldwych hotel, will focus on best practices in legal spend management for corporate legal departments. Those interested to attend can register on the seminar series Web site, www.legalthoughtleaders.co.uk. About CT CT TyMetrix, part of CT, is the market leader in Web-based management solutions, including e-billing, matter management and performance metrics, for corporate law departments and claims organizations. For more information, please visit www.cttymetrix.com. CT, a Wolters Kluwer business, provides intelligent software and service solutions that empower legal professionals to more effectively manage dynamic information, speed workflows and make critical decisions. CT is the market leader for corporate compliance and governance services and solutions, including solutions for managing statutory representation, corporate transactions, and jurisdictional and securities compliance; UCC An abbreviation for the Uniform Commercial Code. products and services for corporate due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. , secured lending, bankruptcy, and real estate, among other areas; matter management and e-billing applications, litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. support software, and electronic discovery; and innovative trademark research offerings. CT is based in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. . For more information, please visit www.ctlegalsolutions.com. About Wolters Kluwer Wolters Kluwer is a leading global information services See Information Systems. and publishing company. The company provides products and services for professionals in the health, tax, accounting, corporate, financial services, and legal and regulatory sectors. Wolters Kluwer has 2006 annual revenues of EU3.7 billion, employs approximately 19,900 people worldwide and maintains operations across Europe, North America, and Asia Pacific. Wolters Kluwer is headquartered in Amsterdam, the Netherlands. Its shares are quoted on the Euronext Amsterdam (WKL WKL Wirtualna Kawiarenka Lubin ) and are included in the AEX AEX See: Amsterdam Exchange and Euronext 100 indices. For more information, visit www.wolterskluwer.com. |
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