Royal Philips Electronics Taps CT TyMetrix to Manage Global Legal Spend Management

HARTFORD, Conn., Feb. 24 /PRNewswire/ -- CT TyMetrix, part of CT, a Wolters Kluwer business, and the premier provider of Web-based legal management solutions for corporate law departments and claims organizations, today announced that Royal Philips Electronics (AEX: PHI, NYSE: PHG) has selected CT TyMetrix 360 as its global platform for legal spend management, enabling better, smarter and faster operations for more than 250 internal legal professionals and more than 100 partner law firms.

Philips is a diversified health and well-being company, focused on improving people's lives through timely innovations.  A world leader in healthcare, lifestyle and lighting, Philips integrates technologies and designs into people-centric solutions based on the brand promise of "sense and simplicity." With revenues of EUR 23 billion in 2009, headquarters in the Netherlands, and more than 118,000 employees worldwide, Philips is as committed to operating its business in the most efficient and streamlined way possible.

As part of an internal initiative to centralize and simplify its global legal operations, Philips turned to CT TyMetrix to create a more cost-efficient and streamlined legal process workflow.

CT TyMetrix's solutions offer a broad range of compliance for global business standards, including VAT billing and collection requirements, adherence to LEDES XML 2.0 regulations and upcoming new Credit Note functionality, which will allow electronic invoicing re-submissions that enable automatic tax adjustments.  CT TyMetrix 360 is an integrated, hosted platform that helps corporate law departments control costs and improve litigation performance, in collaboration with their outside law firms and service providers.

"Our expertise is in rapid global deployment of critical solutions that help our customers execute their legal needs," said Scott Walker, managing director, CT TyMetrix Europe.  "Philips is the latest global brand to join our growing presence in the European market, where last year we saw a threefold increase in new contract wins with some of the continent's leading companies."

About CT TyMetrix

CT TyMetrix, part of CT, is the market leader in Web-based legal management solutions for corporate law departments and claims organizations.  It provides clients with quality legal management software – including e-billing, matter management and performance metrics – and the expertise required to reduce costs, improve results and gain the insight required to meet their strategic objectives.  CT TyMetrix is based in Hartford, Conn., with business operations in Chicago and London.  For more information, please visit www.cttymetrix.com or www.cttymetrix.co.uk.

CT, a Wolters Kluwer business, provides the tools to help legal and financial professionals manage risk on many levels.  From managing corporate compliance to legal department performance, trademark protection to matter management and electronic data discovery to preparing cases for litigation, CT has the right solution to meet a host of needs.  CT is based in New York.  For more information, please visit www.ctlegalsolutions.com.

About Wolters Kluwer

Wolters Kluwer is a leading global information services and publishing company.  The company provides products and services for professionals in the health, tax, accounting, corporate, financial services, legal and regulatory sectors.  Wolters Kluwer had 2008 annual revenues of euro 3.4 billion, employs approximately 20,000 people worldwide and maintains operations in over 35 countries across Europe, North America, Asia Pacific and Latin America.  Wolters Kluwer is headquartered in Alphen aan den Rijn, the Netherlands.  Its shares are quoted on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices.  Visit www.wolterskluwer.com for information about our market positions, customers, brands and organization.

SOURCE CT TyMetrix