Three disparate pieces of information came together for me and point to a highly competitive, and relatively balanced, market for high-end e-billing/matter management systems. Three companies, in alphabetical order below, dominate this market and I comment on the number of departments that use their systems.
CT TyMetrix. The speaker biography of Matt Denouden, Manager of Strategic Accounts for CT Tymetrix, at InsideCounsel’s SuperConference (at 33) says that TyMetrix “has grown from having around half a dozen clients [in 2002] to more than 200.” Toronto Dominion Bank is mentioned on the website.
DataCert. Consider data provided about a year ago by DataCert in an article (See my post of June 11, 2008: DataCert “has completed more than 130 custom integrations” of its software and has “72 Fortune 500 clients.”). DataCert’s website lists 28 major companies and that statement “6 of the Fortune 10, 8 of the Fortune Global 20 and more than 67% of the Dow Jones Industrials are DataCert customers.”
Serengeti. As for the third major player, Serengeti, its press release dated April 15, 2009, announces the company’s 250th legal department customer. The company’s website, which offers a trove of information, states “260+ law departments process bills, budgets, status reports, and documents from 100% of their firms.”
Based only on the information cited above, Serengeti is leading the race, by a couple of lengths, in the number of legal department users. Other measures might re-rank these vendors, such as total number of in-house counsel having the system available, total dollars of invoices processed, law firms submitting through the system, duration or turnover of users, or typical costs.
If readers would like to share any information on those benchmarks, or for other providers of similar software that have a substantial installed base (such as LexisNexis Examen/CounselLink/LegalPrecision), I would appreciate hearing from them.