Litera signs agreement to acquire Clocktimizer
Leading firm intelligence platform and data-driven matter management, pricing, and budget platform come together to supercharge usable and actionable data available to customers
CHICAGO, IL – April 13, 2021 – Litera a global leader in legal technology solutions, today announced it entered into an agreement to acquire Clocktimizer, a leading budgeting and pricing platform that helps law firms improve internal processes and increase firmwide profitability. Clocktimizer will join Foundation Software Group in Litera’s new Firm Intelligence business unit furthering their commitment to accelerate Foundation’s ability to help law firms unlock the value of their data to drive growth and increase client satisfaction.
With the combination, customers will be able to make smarter business decisions and provide more intelligent client experiences.
Clocktimizer helps law firms understand who does what, when, where, and at what costs. Law firms use these insights to make data-driven decisions around matter management, budgeting, and pricing. Clocktimizer uses natural language processing to mine timecard narratives to paint a picture of current work product while leveraging historical data to improve future matter budgets and plans.
Clocktimizer and Foundation share similar customers, particularly within the AmLaw 100, which pairs well with Litera’s continued focus on the Global 100 firms where the vast majority use its products. Litera, Foundation, and Clocktimizer value similar core competencies that are important to customers including integrity, a long-term outlook, relentless focus on customer success, and the delivery of best-of-class solutions, providing a strong basis for the combination.
Litera is the leading provider of software for law firms and document-intensive organizations across the globe, helping them satisfy the demands of clients. Our document drafting products empower users to create, proofread, compare, clean, and distribute high-quality content quickly and securely, from any device, while our transaction and litigation management platforms converts the manual, tedious process of managing matters by creating secure, collaborative workspaces to bring together relevant matter information and reduce the administrative burden inherent in those processes.
Clocktimizer is a leading business intelligence solution that helps law firms understand who does what, when, where, and at what costs. Global 100 law firms use Clocktimizer to make data- driven decisions around matter management, budgeting, and pricing. The pricing & matter management platform enables law firms to streamline operations, easily build and scale pricing and legal project management teams, improve firmwide profitability, and offer increased client transparency.