Elite, the financial and business management platform for large law firms that Thomson Reuters sold to private equity firm TPG Inc. in 2023, said today that it has acquired Tranch, an invoice automation and payments platform providing invoice management and payment options for law firms and their clients. Tranch was founded in 2021\u00a0by\u00a0Philip Kelvin, its [\u2026]<\/p>\n
Elite<\/a>, the financial and business management platform for large law firms that Thomson Reuters sold<\/a> to private equity firm TPG Inc. in 2023, said today that it has acquired Tranch<\/a>, an invoice automation and payments platform providing invoice management and payment options for law firms and their clients.<\/p>\n Tranch was founded in 2021\u00a0by\u00a0Philip Kelvin<\/a>, its CEO, and\u00a0Beau Allison<\/a>, its CTO. with the goal of modernizing the invoice-to-payment experience for large law firms. It serves firms whose revenue ranges from $50 million to $5 billion in revenue, according to its website.\u00a0<\/p>\n During 2024, Tranch says, it more than tripled its payment volume with many of the world\u2019s largest law firms, including many who are customers of Elite.<\/p>\n Its payments products include \u201cPay Now,\u201d which processes payments via a bank transfer managed through FedNow and the Real-Time Payment Network; \u201cPay by Card,\u201d which includes virtual card terminals for billing teams; and \u201cPay Later,\u201d which allows law firm clients to spread out their payments over time, providing greater flexibility to clients and immediate cashflow to firms.<\/p>\n Its platform also allows firms to create, send and manage invoices, and includes features such as customizable template, automated reminders, and integrated payment options.<\/p>\n Elite says that its acquisition of Tranch will enhance its ability to augment law firms\u2019 financial and business management processes by delivering elevated, end-to-end visibility and management of revenue cycles to help firms accelerate growth.<\/p>\n