Global News
Thomson Reuters Elite, part of Thomson Reuters Legal, today announced latest figures that highlight its continued success across the global legal industry in 2017.
90% of Am Law 200 firms, 92% of Global 100 firms, and 62% of UK Top 100 firms now use at least one product in the Elite Enterprise Business Management Solution, continuing the trend for strong accelerated growth for Elite worldwide.
In total, 216 law firms have selected the market-leading 3E® financial and practice management system, thanks to the leading technological capability and improved functionality of the 3E platform. Overall, 137 organizations have gone live on 3E, with 13 new go-lives in the last six months alone. 29% of these live clients have transitioned from the Elite legacy Enterprise® solution, with 36 firms having transitioned in the last two years, underscoring the growing success of the migration to 3E. Global firms that have signed up to 3E include:
In addition to the rapid growth of 3E, several other Elite solutions continue to gain significant ground in the marketplace, including xcelerate Budgeting and Forecasting, a solution strategically designed to help firms protect profits. Within the last year, xcelerate has signed up 38 firms pushing close to 200% growth compared to the previous 12 months and is on pace for another record year.
A number of other Elite products are also seeing forward momentum in 2017. MatterSphere®, the matter and document management component of the Elite Enterprise Business Management Solution is used by 161 firms globally. In addition, Business Development Premier, the business development and marketing solution, continues to experience growth. In total, 179 firms worldwide now use Elite business development products.
In addition, other Thomson Reuters offerings continue to enjoy immense success. eBillingHub®, the market-leading solution for preparing, submitting, tracking, and managing electronic invoices has also enjoyed steady growth. Since launching to market, eBillingHub has been implemented by 82% of Am Law 100 firms and has processed 15m e-bills. This outstanding success rate of the billing solution is directly attributable to the positive impact it has on these firms’ billing rejection rates, reducing the rate by 60%.
“Our enterprise business management solutions continue to enjoy a stellar 2017,” said Eric Ruud, managing director at Thomson Reuters Elite. “We continue to see truly amazing growth with a large number of firms selecting a suite of our products, an increase in processed bills, and a greater presence in global markets. As 2017 plays out, we can easily see this trend continuing, making for a very encouraging future.”
Thomson Reuters Elite offers an end-to-end enterprise business management solution that allows law firms and professional services organizations to run all operational aspects of their firms including business development, risk management, client and matter management, and financial management. Our next-generation technology connects people, tasks, workflows, and business processes and is tailored to help firms and organizations meet organizational requirements and strategic goals.
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