Austin, Texas – September 5, 2012 – Mitratech, the leader in enterprise legal management solutions including matter management, e-billing and GRC management, today announced the results of a return on investment (ROI) study completed by Hobson & Company, an independent ROI research and consultancy group. Mitratech clients that participated in the study achieved a 5 to 10 times ROI over three years and investment payback within an average of less than 12 months when implementing both Mitratech’s matter management and e-billing solutions. The companies that were surveyed experienced numerous additional benefits, such as a reduction in effort to open new matters, streamlined communication with outside vendors and better enforcement of billing guidelines. The combined impact of these benefits result in significant cost reductions in legal spend and increased operational efficiencies.
“The standard ROI in enterprise software is typically 3 times over a period of five years,” said Krista Hobson, principal and managing director of Hobson & Company. “Mitratech’s results are impressive; with double the return over a similar time frame they are setting the pace for enterprise legal management solutions.”
Hobson & Company conducted in-depth interviews with nine of Mitratech’s Fortune 500 clients across several market industries. These clients previously used manual or less sophisticated electronic systems before working with Mitratech. The study identified and evaluated more than 11 benefits experienced within legal departments using Mitratech’s TeamConnect matter management solution and eight benefits experienced using TeamConnect Collaborative Spend Management e-Billing. Hobson & Company quantified the experience over three years on a net present value basis. Benefits were validated with the participating clients by comparing the model results to their actual legal operational results. Significant additional value was found when all the functions of a legal department, including service of process and legal hold were combined with the TeamConnect matter management and e-billing platforms.
“This study confirms the value our products deliver to our clients, especially when implementing multiple Mitratech products,” said Rachel Arnold, senior vice president of products and marketing at Mitratech. “These above-average ROI findings further validate the tangible benefits our products deliver and provide key insights on opportunities for us to extend the value of products through our continued commitment to product and service advancement.”
Mitratech is the leading provider of enterprise legal management solutions. Law departments from Fortune 500 companies and large enterprise organizations around the world rely on Mitratech to help them manage their core legal processes, as well as governance, risk and compliance. Using Mitratech’s TeamConnect platform, legal departments can automate and streamline their matter management, e-billing, legal hold, e-discovery and compliance activities, resulting in reduced costs, improved performance and increased client satisfaction. Available as an on premise, hosted or SaaS-based solution, TeamConnect can adapt to any organization’s business and IT infrastructure requirements. To learn more, visit http://www.mitratech.com.