July 23, 2019 — CLM Matrix from Wolters Kluwer’s ELM Solutions, the market-leading provider of enterprise legal spend and matter management, contract lifecycle management, and legal analytics solutions, was recognized as a “Strong Performer” in Contract Lifecycle Management in The Forrester Wave™ 2019 report.
The report discusses how contract management software creates business value for corporations and how enterprises are deepening their utilization of contract management products to improve business outcomes.
Andrew H. Bartels, Vice President and Principal Analyst at Forrester Research, Inc., said CLM Matrix “clients loved its usability and gave it very high scores for implementation support and ongoing customer service.” He noted that “CLM Matrix uses tight Microsoft Office integration to create easy-to-use CLM… it leverages the strengths of Microsoft such as user familiarity with Word, Excel, and Outlook; Office’s multilanguage [capabilities] and global reach…. It is strong in contract creation, contract repository, and contract process management.”
Wolters Kluwer’s ELM Solutions acquired CLM Matrix in May in order to offer a more comprehensive suite of technology solutions to address the growing need of corporate legal operations departments to oversee the contracting process. According to Bartels, “The CLM market is growing because more contract managers and legal and finance professionals use CLM to address the challenges of creating, managing, and getting the best business results from their contracts.”
“This ranking confirms that CLM Matrix is a tremendous addition to the portfolio of world-class workflow tools we deliver to corporate legal departments globally,” said Jonah Paransky, Executive Vice President and General Manager for Wolters Kluwer’s ELM Solutions. “We are elated that industry analysts agree with our customers that CLM Matrix provides a great user experience while offering a strong product that transforms the way companies manage their contracts.”
CLM Matrix is a highly customizable, easily implemented SaaS-based solution that works seamlessly with the Microsoft Office technology platform to automate contract initiation, creation, and negotiation from execution through to expiration. CLM Matrix also provides companies with insight into key performance metrics that can drive organizational efficiencies, manage risk, and decrease contract cycle times.
Wolters Kluwer’s ELM Solutions is the market-leading global provider of enterprise legal spend and matter management, contract lifecycle management and legal analytics solutions. We provide a comprehensive suite of tools that addresses the growing needs of corporate legal operations departments to increase operational efficiency and reduce costs. Corporate legal and insurance claims departments trust our innovative technology and end-to-end customer experience to drive world-class business outcomes. Our award-winning products include Passport®, the highest-rated ELM solution in the latest Hyperion MarketView™ Legal Market Intelligence Report, and the LegalVIEW® portfolio of legal analytics solutions based upon the industry’s largest and most comprehensive legal spend database, with more than $128 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 (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 2018 annual revenues of €4.3 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.
Director, Global Corporate Communications – Legal Solutions
Governance, Risk & Compliance