Elite acquires Tranch to streamline payments for law firms

January 6, 2025

Elite, a global leader in financial management and business operations solutions for the legal sector, has announced the acquisition of Tranch, a prominent B2B invoice automation and payments platform.

Founded in 2021 by Philip Kelvin and Beau Allison, Tranch has gained recognition for its innovative approach to invoice and payment management. The platform enables law firms to automate billing processes, enhance cashflows, and increase operational efficiency.

Key features include “Pay Now” via bank transfer systems like FedNow and the Real-Time Payment Network, “Pay by Card” with virtual card terminals, and “Pay Later,” which offers clients flexible payment plans while ensuring Day 1 cashflow for law firms. These tools allow firms to reduce their cash collection cycle, handle larger workloads without proportional staff increases, and boost profitability.

Mark Dorman, CEO of Elite, expressed enthusiasm about the acquisition, stating, “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.

“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.”

Tranch CEO Philip Kelvin said, “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.

“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.”