CT TyMetrix Enhances Global Currency Capabilities, Financial Hierarchy Module With Latest Version of CT TyMetrix 360°
New Version Enables Support for 85 Different Currencies; Allows Tighter Interface Between EBilling and Clients’ Financial Systems
(Hartford, Conn.—April 11, 2006) As legal professionals increasingly conduct global business, it is critical for the solutions they use to keep pace with multiple accounting systems and currencies. CT TyMetrix 360° 6.2, announced today, has enhanced global currency capabilities and a more sophisticated financial hierarchy module that can help. CT TyMetrix is a Wolters Kluwer business and the market leader in Web-based e-billing, matter management and performance metrics.
CT TyMetrix 360° 6.2 allows law firms to submit invoices—via any industry standard format, or using the platform’s invoice entry billing module—in 85 different currencies. As a result, when companies retain local counsel, the managing attorney and law firm can operate in their native currency. This latest version also brings enhancements to the platform’s financial hierarchy module. It creates a tighter interface between e-billing and clients’ accounts payable systems.
“We’ve been hearing it for years, but it’s true—business is becoming more and more global,” said John Weber, general manager, CT TyMetrix. “The ability to accept invoices in any currency gives our customers more flexibility; it lets global companies act locally. And, the added functionality in our financial hierarchy module allows them a more fluid interface between e-billing and accounting systems. This version is another step in giving our customers full visibility into their expenses, which can lead to reduced costs, better decision making and improved collaboration with outside counsel.”
Global Currency Capabilities
CT TyMetrix 360° 6.2 gives customers with international counsel more flexible e-billing functionality. Users can choose to apply an exchange rate from a leading currency source, or they can import their own treasury rates into the platform. Each user can then establish a currency preference, which will allow everyone to view and adjust invoices in either the invoice currency or local currency.
The currency preference established by the CT TyMetrix 360° 6.2 user applies to the preferred view throughout the entire system, including e-billing, matter management and reporting.
Kurt Swanke, director of marketing, CT TyMetrix noted, “User currency preference applied across the entire integrated platform is the first phase of our globalization strategy for the CT TyMetrix 360° platform.”
Enhanced Financial Hierarchy Module
CT TyMetrix 360° 6.2 aims to further streamline e-billing by strengthening the interface between invoicing and accounts payable systems. It creates a seamless process from invoice submission to aggregation of a payment file.
Legal departments have to associate billing information to appropriate financial codes. This enables them to track the percentage of allocation to each code so that costs can be properly divided. With paper invoices, this must be done by hand. The latest version of CT TyMetrix 360° offers a first-of-its-kind e-billing function that automatically associates electronic invoices with pre-determined financial codes, which are then transferred to the accounts payable department. Associating this information electronically eliminates the extra administrative steps, and decreases the likelihood of error.
The CT TyMetrix platform’s financial hierarchy module is configured to client specifications and can be easily updated. Because of these improvements, complex financial associations and allocations are easily handled.
All of the enhanced capabilities and functionality of CT TyMetrix 360° 6.2 provide users the tools they need in an increasingly global environment.
CT TyMetrix 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 offers corporate compliance and governance services and solutions, including solutions for managing statutory representation, corporate transactions, and jurisdictional and securities compliance; UCC products and services for corporate due diligence, secured lending, bankruptcy, and real estate, among other areas; matter management and e-billing applications, litigation support software, and eDiscovery services; and innovative trademark research offerings from CT Corsearch. CT is based in New York City. For more information, please visit www.ctlegalsolutions.com.
About Wolters Kluwer
Wolters Kluwer is a leading multinational publisher and information services company. The Company’s core markets are health, corporate services, financial services, tax, accounting, legal, regulation, and education. Wolters Kluwer has annual revenues (2005) of €3.4 billion, employs approximately 18,400 people worldwide and maintains operations across Europe, North America and Asia Pacific. Wolters Kluwer is headquartered in Amsterdam, the Netherlands. Its depositary receipts of shares are quoted on the Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. For more information, see www.wolterskluwer.com.
- Contact Information
- Stacy Nobles
- Public Relations Manager
- CT & Wolters Kluwer Corporate Legal Services
- Contact via E-mail
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.