For the second time this year, Wolters Kluwer ELM Solutions’ AI-powered technology and workflow enhancement tools have been recognized by the Merit Awards, an independent awards program judged by a distinguished panel of journalists, executives, entrepreneurs and consultants. The company’s Office Companion module is a gold winner in the enterprise category of the 2022 Merit Technology Awards, while its LegalVIEW BillAnalyzer spend management solution has been honored in the program’s AI category.
Office Companion, a module available for ELM Solutions Passport and TyMetrix 360° matter and spend solutions, allows lawyers to seamlessly access and manage entire matter portfolios, invoices, and documents right within Microsoft Office staples like Outlook, Word, Excel, and PowerPoint. The gold-winning submission emphasized the efficiencies and time savings that lawyers are afforded by Office Companion’s quick file options and detailed matter summary pages.
ELM Solutions is also generating plaudits as a silver winner in the Merit Technology program’s AI category, an honor recognizing the nuance and experience achieved by the AI algorithm underlying the company’s LegalVIEW BillAnalyzer spend management offering. With exposure to billing patterns spanning 225 practice areas located across 20 different industries, LegalVIEW BillAnalyzer streamlines and enhances the review process by scrutinizing each line of a law firm invoice to determine compliance with a corporate legal department’s outside counsel billing guidelines. As a result, clients have saved up to 10% on legal spend while also improving billing guideline compliance by up to 20%.
“Thank you to the judges of the 2022 Merit Technology Awards for recognizing ELM Solutions’ ongoing commitment to providing our clients with truly innovative solutions that improve their workflows and generate boundless new efficiencies,” said Barry Ader, VP Product Management and Marketing at Wolters Kluwer ELM Solutions.
Earlier this year, LegalVIEW BillAnalyzer was recognized alongside ELM Solutions’ Predictive Insights module as a gold-level winner in the business technology category of the 2022 Merit Awards for Business. The company was also bestowed a bronze award in the program’s business innovation category for improvements made to the customer service team behind its Passport legal spend and matter management platform.
ELM Solutions, part of Wolters Kluwer GRC, is a market-leading global provider of enterprise legal spend and matter management, contract lifecycle management and legal analytics solutions. The company provides a comprehensive suite of tools that address the growing needs of corporate legal operations departments to increase operational efficiency and reduce costs. Corporate legal and insurance claims departments trust its innovative technology and end-to-end customer experience to drive world-class business outcomes. The other legal solutions business of Wolters Kluwer GRC is CT Corporation. The division’s banking and regulatory compliance businesses are Wolters Kluwer Compliance Solutions and Wolters Kluwer Finance, Risk & Regulatory Reporting.
Wolters Kluwer ELM Solutions was named a leader in both the IDC MarketScape: Worldwide Enterprise Legal Spend Management 2020 Vendor Assessment and IDC MarketScape: Worldwide Enterprise Matter Management 2020 Vendor Assessment. The company’s award-winning products include Passport®, one of the highest rated ELM solutions in the latest Hyperion MarketView™ Legal Market Intelligence Report and TyMetrix® 360°, the industry’s leading SaaS-based e-billing and matter management solution. CLM Matrix, meanwhile, was named a “strong performer” in The Forrester Wave™: Contract Lifecycle Management For All Contracts, Q1 2021 report. ELM Solutions’ LegalVIEW® portfolio of legal analytics solutions is based upon the industry’s largest and most comprehensive legal spend database, with more than $155 billion in invoices.
About Wolters Kluwer Governance, Risk & Compliance
Governance, Risk & Compliance is a division of Wolters Kluwer, which provides legal and banking professionals with solutions to help ensure compliance with ever-changing regulatory and legal obligations, manage risk, increase efficiency, and produce better business outcomes. GRC offers a portfolio of technology-enabled expert services and solutions focused on legal entity compliance, legal operations management, banking product compliance, and banking regulatory compliance.
Wolters Kluwer (WKL) is a global leader in professional information, software solutions, and services for the healthcare; tax and accounting; governance, risk and compliance; and legal and regulatory sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services. Wolters Kluwer reported 2021 annual revenues of €4.8 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 19,800 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands.
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