HOUSTON--(BUSINESS WIRE)--Wolters Kluwer’s ELM Solutions has extended its best-in-class portfolio of products and services that help corporate legal and claims departments control costs while increasing revenues and improving productivity by acquiring CLM Matrix, a leading provider of contract lifecycle management (CLM) software. Wolters Kluwer disclosed the acquisition in the First-Quarter 2019 Trading Update.
This acquisition enables Wolters Kluwer to offer a more comprehensive suite of technology solutions to address the growing need of corporate legal operations departments to increase responsibility for, and oversight of, the contracting process.
“As corporations continue to increase demands on their legal operations, our clients require a contract lifecycle management solution that aligns with our current offerings,” said Jonah Paransky, Executive Vice President and General Manager for Wolters Kluwer’s ELM Solutions. “We are thrilled to respond to our customers by delivering CLM Matrix’ solutions that provide deep contract management expertise, a strong global presence, and intuitive technology to the customer experience that will improve the legal operations workflow.”
CLM Matrix software, named a “strong performer” in the 2019 Q1 CLM Forrester Wave report, helps companies streamline the contract process. The acquisition adds technology that transforms the way companies manage their contract lifecycle to ELM Solutions’ market-leading portfolio of enterprise legal spend and matter management and legal analytics solutions. CLM Matrix offers 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 gives companies insight into key performance metrics that can drive organizational efficiencies and decrease contract cycle times.
ELM Solutions will be at the 2019 Corporate Legal Operations Institute (CLOC) in Las Vegas on May 14-16, in the exhibit hall at booth 4. On May 15, Alyza Tarmohamed, ELM Solutions Senior Director for LegalVIEW® BillAnalyzer, and Scott Fuller, Senior Director of Legal Operations at Applied Materials, will present “Using AI to Super-Charge Invoice Review.” Follow us on LinkedIn and Twitter, or join the conversation using #CLOC2019.
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 control costs, collaborate more effectively, and drive better outcomes. This includes Passport®, the highest rated ELM solution in the 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 $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, stay competitive 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.