Wolters Kluwer’s ELM Solution Introduces Legal Holds Module, Enhancements for Passport® and TyMetrix® 360° Solutions
Provides Corporate Legal and Insurance Claims Departments with Automated,
Defensible Methodology to Improve Speed and Accuracy of Compliance
November 6, 2018 —
Wolters Kluwer’s ELM Solutions announced the release of its Legal Holds module available through its Passport® and TyMetrix® 360° solutions. The Legal Holds module helps corporate legal and insurance claims departments streamline their legal holds workflow with an intuitive, and easy to use solution that automates the assignment, notification, and administration of custodian acknowledgements. With courts mandating organizations demonstrate such a system in place, ELM’s Legal Holds module provides legal operations and insurance claims professionals with an automated and defensible methodology.
“The Legal Holds module for Passport and TyMetrix 360°utilizes built in reporting and analytics to provide users with greater transparency and visibility into critical areas of the business that impact compliance, risk, and cost savings,” said Barry Ader, Vice President of Marketing and Product Management for Wolters Kluwer’s ELM Solutions. “From creating hold notifications through the process of tracking and managing acknowledgements, the Legal Holds module simplifies the process and helps drive operational efficiencies.”
In addition to the Legal Holds module, TyMetrix 360°now features Office Companion Smart Assist. Office Companion Smart Assist streamlines invoice workflows with an easy to use, intuitive interface that allows users to quickly approve, adjust, or reject invoices from within Microsoft Outlook without having to switch between multiple applications. TyMetrix 360° now offers Court Reporting spend management as well. This new capability enforces and validates client rate agreements with court reporting agencies or other affiliated vendors. It also allows firms that hire the court reporting agency to bill correctly in line with their clients agreed upon rates. This allows better visibility and transparency into accurate court reporting fees, and improves billing compliance with agreed upon rates for better cost control.
New Passport enhancements were made to Collaboration Portal, which enables legal and claims departments to securely exchange data and information with their law firms and other legal service providers, and the solution’s Premium Reporting tool. Collaboration Portal allows ELM Solutions’ clients to offer an enhanced law firm user experience, with a singular, modular access point to view information and activities pertinent to a client engagement. Visual on-screen indicators inform users of the immediacy and action steps needed to resolve an open matter pertaining to an engagement. Passport’s Premium Reporting tool has been enhanced as well, providing a new level of flexibility to clients. The improved user experience features a new modern user interface, streamlined report building and enhanced visualizations.
Wolters Kluwer’s ELM Solutions is the market-leading provider of enterprise legal spend and matter management and legal analytics solutions. Corporate legal and insurance claims departments and their law firms worldwide trust our flexible, multi-solution approach to help ensure compliance, control costs and collaborate more effectively. This includes Passport, the highest rated ELM solution in the 2017 Hyperion Marketview™ Legal Market Intelligence Report; TyMetrix 360°, the industry’s leading SaaS-based e-billing and matter management solution; and the LegalVIEW® portfolio of legal analytics solutions based upon the industry’s largest and most comprehensive legal spend database, with more than $100 billion in invoices.
About Wolters Kluwer Governance, Risk & Compliance
Governance, Risk & Compliance (GRC) is a division of Wolters Kluwer, which provides legal and banking professionals with solutions to 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 N.V. (AEX: WKL) is a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. Wolters Kluwer reported 2017 annual revenues of €4.4 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,000 people worldwide.