PSRUTI does a good job of importing chords and lyrics. I make use of this feature in Midi Maker.
Midi Maker makes a Yamaha song file (midi file). It has powerful features like being able to turn the keyboard or vocal harmony on and off, turning registrations on, turning multi pads on and off and more. I can use this file on the keyboard as is or I can make a standard type 0 midi file by playing the song file from the computer and recording it to a standard midi file with my keyboard using midi quick recording. The recorded file has no lyrics in it and this is where PSRUTI comes into play.
My software exports the lyrics in PSRUTI format and I then use PSRUTI to import the lyrics back into the midi file to make a complete backing track with chords and lyrics.
Regards,
Richard