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Wolters Kluwer ELM Solutions Innovative Use of AI Recognized by Merit Awards for Business

By Business Wire

Business Wire
Overall Rating

ELM Solutions’ LegalVIEW BillAnalyzer and Predictive Insights module were lauded in the program’s business technology category


HOUSTON--(BUSINESS WIRE)--#wolterskluwer--Wolters Kluwer ELM Solutions’ innovative use of AI is continuing to garner the company recognition – this time as a gold winner in the business technology category of the 2022 Merit Awards for Business. ELM Solutions was also named a bronze winner in the Merit Awards’ business innovation category, honoring enhancements made to the customer service team behind its Passport legal spend and matter management platform.

The gold-winning nomination submitted to the Merit Awards’ business technology category stressed the enhanced degree of nuance and depth that ELM Solutions’ proprietary LegalVIEW database – containing more than $150 billion in invoices – brings to the company’s AI-powered technologies. Those innovations include the spend management tool LegalVIEW BillAnalyzer and the Predictive Insights module, which leverages predictive budget and cycle time data to help corporate legal and insurance claims departments better manage their litigated matters. Both solutions were also lauded earlier this year as “Best Use of AI” by New World Report’s Legal Elite Awards.

“I am tremendously proud that ELM Solutions’ dedicated team of data scientists and legal subject matter experts continue to find powerful ways to leverage AI technology and our extraordinary reserve of legal spend data to generate new efficiencies and cost management for our clients,” said Barry Ader, VP Product Management and Marketing at Wolters Kluwer ELM Solutions. “Thank you to the judges for recognizing how the scope of our data science expertise and AI-enabled workflows serve as true differentiators in a crowded legal market.”

The Merit Awards program recognizes companies worldwide that have contributed to the continued growth of the business market. Its panel of judges includes journalists, executives, entrepreneurs and consultants.

ELM Solutions, part of Wolters Kluwer GRC, is the 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 $150 billion in invoices.

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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.


Contacts

Media Contacts for Wolters Kluwer GRC
(Including Wolters Kluwer ELM Solutions, Wolters Kluwer CT Corporation, Wolters Kluwer Compliance Solutions and Wolters Kluwer Finance, Risk & Regulatory Reporting)

Paul Lyon
Senior Director, Global Corporate Communications: Global Marketing, Communications & Planning
Governance, Risk & Compliance Division
Wolters Kluwer
Office +44 20 3197 6586
Paul.Lyon@wolterskluwer.com

Frank Ready
Senior Specialist, Corporate Communications, Legal Services
Governance, Risk & Compliance Division
Wolters Kluwer
717-205-3647
Frank.Ready@wolterskluwer.com

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First published on Fri, Jul 22, 2022

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