Wolters Kluwer ELM Solutions Announces Winners of Sixth Annual Legal Innovator Awards

Rhea-AI Summary

Novartis and The Cincinnati Insurance Company received the Legal Innovator Awards from Wolters Kluwer ELM Solutions for their innovative use of enterprise legal management. Announced at the ELM Amplify 2022 conference in Scottsdale, Arizona, these awards highlight how clients have effectively leveraged technology to enhance legal operations. Novartis improved invoice reviews and relationships with outside counsel using the Passport solution, while Cincinnati Insurance enhanced legal bill review processes and developed performance scorecards for outside counsel.

Positive

• Novartis implemented Passport to improve invoice review processes, increasing operational efficiency.
• Cincinnati Insurance enhanced legal bill review and reporting capabilities with the Passport implementation.

Negative

• None.

Novartis and The Cincinnati Insurance Company were recognized for their innovative use of enterprise legal management

HOUSTON--(BUSINESS WIRE)-- The winners of Wolters Kluwer ELM Solutions’ sixth annual Legal Innovator Awards were announced earlier this month during the ELM Amplify 2022 user conference in Scottsdale, Arizona. ELM Solutions clients Novartis and The Cincinnati Insurance Company were honored for their commitment to innovation in the pursuit of more efficient and predictable legal services.

The annual Legal Innovator Awards recognize ELM Solutions clients who have successfully leveraged technology to transform legal operations. Novartis is a leading global medicines company, using innovative science and digital technologies to create transformative treatments in areas of great medical need. The company worked with a cross-functional ELM Solutions team to configure Passport to support an improved invoice review process and enhanced relationships with outside counsel. This resulted in greater efficiency while also promoting case management techniques internally.

The Cincinnati Insurance Company is a recognized leader in the property and casualty (P&C) and life insurance industry. The organization – and its in-house Legal Resource Control Unit (LRCU) – was recognized for its Passport implementation project, which enhanced its legal bill review and reporting capabilities, while also developing a robust scorecard for use in outside counsel performance reviews. Additionally, the project enabled more efficient reporting capabilities and the ability to provide other business partners with valuable data.

“We are gratified to be able to recognize these clients for the tremendous spirit of innovation and partnership they have brought to the legal operations function,” said Barry Ader, Vice President of Product Management and Marketing at Wolters Kluwer ELM Solutions. “Their innovative use of the Passport solution demonstrates the power of technology to transform the way that corporate legal departments are doing business, yielding new efficiencies and additional insights into outside counsel relationships.”

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 $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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221024005204/en/

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

Source: Wolters Kluwer

FAQ

What companies won the Legal Innovator Awards in 2022?

Novartis and The Cincinnati Insurance Company won the Legal Innovator Awards from Wolters Kluwer ELM Solutions in 2022.

How did Novartis improve its legal operations?

Novartis improved its legal operations through the implementation of Passport, enhancing the invoice review process and relationships with outside counsel.

What specific improvements did The Cincinnati Insurance Company achieve?

The Cincinnati Insurance Company enhanced its legal bill review and reporting capabilities with the implementation of the Passport solution.

Where were the Legal Innovator Awards announced?

The Legal Innovator Awards were announced at the ELM Amplify 2022 conference in Scottsdale, Arizona.

Who presented the Legal Innovator Awards?

The Legal Innovator Awards were presented by Wolters Kluwer ELM Solutions.