Elite acquires Tranch to deliver billing and payments for Law Firms

By Gloria Mathias

Elite, a provider of financial management and business operations solutions, has announced its acquisition of Tranch, a B2B invoice automation and payments platform offering seamless invoice management and turnkey payment options for law firms and their clients.

Founded in 2021 by Philip Kelvin and Beau Allison, Tranch has set a new standard for law firms’ invoice and payment management. It enables firms to streamline and automate their payment processes and increase cash flows through improved speed and efficiency in invoice delivery, billing, and collections.

Tranch’s electronic payment offerings include “Pay Now” via a bank transfer managed through FedNow and the Real-Time Payment Network; “Pay by Card,” which provides virtual card terminals for billing teams; and “Pay Later,” which allows law firm clients to spread out their payments over time. This provides greater flexibility to clients and Day 1 cash flow to law firms.

Through its next-generation platform, Tranch provides a frictionless invoice-to-payments experience that allows law firms to reduce their cash collection cycle and handle more work without proportional staff increases to their finance teams, enhancing profitability.

Mark Dorman, CEO of Elite, said, “Tranch is an innovative leader revolutionising payment processes for law firms. I 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. This 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. “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 improve law firms’ financial and business management processes. By delivering elevated, end-to-end visibility and managing revenue cycles, Elite will help firms accelerate growth.