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º Metrics & E-Invoicing Overview

The TyMetrix system is designed to streamline the process of electronic invoice review and settlement while simultaneously placing aggregated financial and performance data in the hands of your managers. Intuitive system functionality and user-friendly tools meet your need to access complete information quickly and easily to efficiently settle invoices and inform your management decisions.

. . . Seamless Invoice Process From Submission to Payment

 
Automated Compliance with Your Guidelines
The TyMetrix system receives and authenticates invoices using an automated screening process that checks for compliance with dozens of rules, including your own Outside Counsel Guidelines. Examples include incorrect math, duplicate invoices, or disbursements that exceed your department's predetermined limit.
   Greater Efficiency for You:
The TyMetrix system streamlines the review and approval process for your legal or claims professionals. Summaries of time by task and timekeeper, flagged time entries for potential rules violations, and budget-to-actual calculations on the invoice are just some of the ways TyMetrix saves time for your reviewers and effectively reduces costs for your department.
Automated Payment:
TyMetrix generates an Electronic Payment File that is sent to your accounts payable system. The payment file contains all the information necessary to facilitate payment. Studies have shown that processing paper invoices by hand costs between $20 - $150 per invoice. Automation of the payment file by TyMetrix can reduce this transaction cost to less than one dollar per invoice submission.
   How it works
» Law firms electronically submit invoices to TyMetrix.

» TyMetrix Initial Testing Program subjects each invoice to an automated rules check, ensuring mathematical accuracy, completeness, and compliance with your Outside Counsel Guidelines. Non-compliant invoices are automatically returned to each firm for correction and re-submission.

» Invoices are presented on-line for review and approval. TyMetrix generates an electronic payment file, providing your Accounts Payable Department with the information necessary to effect payment on approved invoices.

» Rich task-based invoice data is aggregated and available on-line to attorneys for report generation or future analysis.

 




  TyMetrix is proud to be a strategic alliance partner of the ProBono Partnership


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