HOUSTON--(BUSINESS WIRE)--Wolters Kluwer’s ELM Solutions announced today its LegalVIEW® BillAnalyzer solution is a 2018 SIIA CODiE Award finalist in the Best Legal Solution category. The CODiEs are the premier awards for the software and information industries and have been recognizing product excellence for over 30 years. LegalVIEW BillAnalyzer was honored as a finalist in one of 52 business technology categories.
LegalVIEW BillAnalyzer combines artificial intelligence, machine learning and Wolters Kluwer’s human experts to help corporate legal departments and insurance claims organizations more efficiently manage legal invoices from their outside counsel partners. This enables them to control and reduce legal spend for cost savings, and ensure compliance with billing guidelines.
Research conducted by Gartner and Wolters Kluwer’s ELM Solutions shows corporate legal departments are processing millions of dollars of legal invoices from outside counsel monthly. Errors and oversights in the time-consuming task of reviewing each invoice against detailed billing guidelines can result in compliance violations, excess spend, and poor matter management. Corporate legal departments using LegalVIEW® BillAnalyzer have realized an average cost savings in legal fees ranging from 7 to 15%.
“LegalVIEW BillAnalyzer offers a very compelling model to use in addressing billing compliance issues,” said Tom Orrison, Director of Legal Procurement at Microsoft. “Augmenting human expertise with AI creates a virtuous circle of more effective matter management, enhanced compliance and reduced legal spend.”
“We are honored the SIIA and CODiE Award judges have recognized our LegalVIEW BillAnalyzer solution as a finalist in the Best Legal Solution category,” said Jonah Paransky, Executive Vice President and General Manager for Wolters Kluwer’s ELM Solutions. “Earning finalist status reflects the focus and commitment we have on driving innovation that improves the overall customer experience and provides world-class business outcomes for our clients through investments in technology and people.”
The SIIA CODiE Awards are the industry's only peer-recognized awards program. Business technology leaders including senior executives, analysts, media, consultants and investors evaluate assigned products during the first-round review which determines the finalists. SIIA members then vote on the finalist products and the scores from both rounds are tabulated to select the winners. Winners will be announced during the Business Technology CODiE Award Celebration at the SIIA Annual Conference & CODiE Awards, June 12 in San Francisco.
About Wolters Kluwer Governance, Risk & Compliance
Wolters Kluwer Governance, Risk & Compliance (GRC) is a division of Wolters Kluwer which provides legal, finance, risk and compliance professionals and small business owners with a broad spectrum of solutions, services and expertise needed to help manage myriad governance, risk and compliance needs in dynamic markets and regulatory environments.
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.