Mitratech expands its leadership in legal spend management innovation with technology that offers corporate legal departments real-time views of outside counsel time and billing information while providing law firms a solution to improve staff efficiency and collaborate more effectively with clients.
AUSTIN, Texas, March 9, 2016 – Mitratech, the market-leading provider of Enterprise Legal Management solutions, announced today it has acquired Viewabill. The acquisition expands Mitratech’s portfolio of innovative solutions for corporate legal department and law firm collaboration. Viewabill provides corporate clients with real-time insight into their law firms’ activities and time entries through web and mobile app access by integrating with law firm time and billing systems. Viewabill also provides great value for law firms with capabilities to track staff efficiency in real-time, enabling better accountability throughout the firm, increased efficiency in the billing process, and stronger client relationships.
Mitratech’s acquisition of Viewabill is the company’s third in less than a year; Mitratech acquired CaseTrack from Economic Analysis Group in August 2015 and Bridgeway Software in July 2015.
“Market-leading legal departments are seeking more than just basic e-Billing solutions – they are looking for ways to enable inside and outside counsel to collaborate efficiently through multiple avenues,” said Jason Parkman, Mitratech CEO. “Incorporating Viewabill into an industry-leading suite of collaboration tools that already includes invoicing, budget collaboration, timekeeper rate collaboration, and a structure for negotiations, will allow our corporate clients to gain insight into activities and issues long before an invoice arrives, fostering better collaboration and relationships with outside counsel and improving spend management. Additionally, it will provide our law firm clients a way to differentiate their services in a competitive market by delivering on the transparency and predictability sought by their clients.”
Mitratech is actively working to optimize the integration of Viewabill’s innovative technology into its existing portfolio of e-Billing and legal spend management tools. This portfolio includes Collaborati, a market leading e-Billing platform used by more than 11,000 firms – including 99 of the Global 100 and 100 percent of the Am Law 200 – for submitting invoices and updates to many of Mitratech’s 750 legal department clients. Adding Viewabill’s benefits of reduced billing risk and cost due to increased invoice accuracy brings the potential to create considerable value throughout the engagement lifecycle. Law firms that utilize Viewabill are able to decrease write-offs by increasing collaboration while strengthening firm-client relationships.
Mitratech and Viewabill are well-aligned in terms of our philosophies, mission, and focus,” said Robbie Friedman, Viewabill CEO & Co-Founder. “This is a very exciting time, and an exciting opportunity for the legal industry. As the largest privately held company in the Enterprise Legal Management market, the combined organization will be able not only to meet and exceed the advanced technological needs of our customers – both law firms and legal departments – but also to leverage its reach to have significant impact on the industry as a whole.”
Current and future Viewabill clients will benefit by joining a large, experienced, and resource-rich organization focused on solving real challenges in the legal technology market through continuous innovation. To learn more about Viewabill, visit the website at www.viewabill.com.
The financial terms of the deal are not being disclosed.
Mitratech is the market-leading provider of Enterprise Legal Management (ELM) solutions for more than 750 global legal departments of all sizes, representing 7 of the Fortune 10, almost 40% percent of the Fortune 500, and over 100,000 users in over 150 countries. Mitratech’s products are also used by over 11,000 of its clients’ external partners, including 99 of the Global 100 and 100 percent of the Am Law 200 law firms. Mitratech’s portfolio of ELM software solutions offer end-to-end matter management, spend management, e-Billing, legal hold, contracts management, GRC, and reporting solutions. Clients are able to prove demonstrable value creation for their organization by automating legal workflows, improving business outcomes through actionable data and insight, increasing collaboration with external partners, and reducing overall legal spend. To learn more, visit mitratech.com.