Wolters Kluwer ELM Solutions Shares Data Analytics Expertise on the LawNext Podcast

Rhea-AI Summary

Wolters Kluwer ELM Solutions' Jeffrey Solomon discussed the role of data analytics in corporate legal departments on the LawNext podcast. He highlighted how the LegalVIEW database, with insights from over $150 billion in invoices, enhances decision-making and budgeting. The conversation focused on tools like LegalVIEW BillAnalyzer and Predictive Insights, which help improve visibility and compliance in legal spending. Solomon emphasized the importance of analyzing legal spend to transform legal practices.

Positive

• Wolters Kluwer ELM Solutions offers industry-leading analytics technology to help corporate legal departments manage budgets and costs effectively.
• The LegalVIEW database, encompassing data from over $150 billion in invoices, empowers corporate legal departments with significant insights.
• Recognition as a leader in both the IDC MarketScape for Enterprise Legal Spend and Matter Management indicates strong market positioning.

Negative

• None.

ELM Solutions’ Jeffrey Solomon dives into how law departments are using data with host Bob Ambrogi

HOUSTON--(BUSINESS WIRE)-- Jeffrey Solomon, Head of Managed Services and Analytics at Wolters Kluwer ELM Solutions, is featured on Bob Ambrogi’s widely followed LawNext podcast to discuss how corporate legal departments are using the power of data analytics to drive a more strategic approach to managing legal budgets and spend.

Much of the nearly 40-minute conversation is dedicated to the transformational insights being generated by ELM Solutions’ LegalVIEW database – the world’s most comprehensive legal spend database, which includes information from more than $150 billion in invoices. Solomon explains how that legal spend data is leveraged by ELM Solutions products such as LegalVIEW BillAnalyzer and Predictive Insights to help law departments derive greater visibility around outside counsel spend, promote stronger adherence to billing guidelines, and select the best law firms for a given matter.

“Analyzing legal spend can transform the way that corporate legal departments approach the daily practice of law,” Solomon says. “I’m grateful for the opportunity to share with Bob Ambrogi and the LawNext podcast how Wolters Kluwer ELM Solutions’ LegalVIEW database is supporting that evolution by enabling more strategic decision-making and greater transparency around legal spend.”

Solomon has spent more than two decades consulting within the legal technology sector. His current role includes overseeing a team that leads innovation initiatives through ideation, market research, development, and go-to market for a portfolio of AI-powered products and managed services.

ELM Solutions, part of Wolters Kluwer’s Governance, Risk & Compliance (GRC) division, 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.

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.

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 2020 annual revenues of €4.6 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 19,200 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/20220407005129/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

Global Corporate Communications Director

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 insights did Jeffrey Solomon provide on the LawNext podcast?

Jeffrey Solomon discussed how corporate legal departments use data analytics to enhance decision-making and budget management.

How much legal spend data does the LegalVIEW database include?

The LegalVIEW database includes information from over $150 billion in invoices.

What tools are highlighted in the discussion for managing legal budgets?

The discussion mentioned tools like LegalVIEW BillAnalyzer and Predictive Insights for managing legal budgets.

What is the significance of the IDC MarketScape recognition for Wolters Kluwer ELM Solutions?

The recognition reflects Wolters Kluwer ELM Solutions' strong position and leadership in the enterprise legal spend and matter management market.