Source: Elite
Elite, a leading provider of financial management and business operations solutions to the world’s most successful law firms, announced its acquisition of Tranch, a leading B2B invoice automation and payments platform offering seamless invoice management and turnkey payment options for law firms and their clients.
“At Elite, our focus is on providing law firms the SaaS solutions they need to lead their business into the future with confidence, and help them gain operational efficiencies, optimize resource allocation and improve expense management,” said Mark Dorman, CEO of Elite. “Tranch is an innovative leader that is revolutionizing payment processes for law firms, and we look forward to welcoming Philip, Beau and the entire Tranch team to Elite. By embedding Tranch’s products within our portfolio of SaaS solutions, we will offer our customers greater choice and flexibility in managing their work-to-cash process, which will help law firms reduce payment delays, increase cashflows and, ultimately, boost profitability.”
“Investments in technology and innovation by law firms have lagged historically in the area of financial operations, and our data reveals there are still significant inefficiencies that have not yet been solved from when an invoice is issued to payment, leaving a large opportunity for improvement across firms of all sizes,” said Philip Kelvin, CEO of Tranch. “In 2024, Tranch more than tripled its payment volume with many of the largest global law firms, including Elite customers, to help facilitate easier and faster payments through automation and innovation. We are excited to join Elite as we scale our capabilities further and continue our rapid, product-led innovation.”
Elite’s acquisition of Tranch will enhance its ability to augment law firms’ financial and business management processes by delivering elevated, end-to-end visibility and management of revenue cycles to help firms accelerate growth.
Read the full article: https://www.elite.com/news/elite-acquires-tranch-a-leading-b2b-payments-platform-to-transform-billing-and-payment-processes-for-law-firms/
