Wolters Kluwer’s new LegalVIEW DynamicInsights enables interactive legal rate benchmarking

The solution empowers corporate legal departments and law firms to access and visualize legal invoice data through interactive graphs

HOUSTON--(BUSINESS WIRE)--Wolters Kluwer today announced the launch of LegalVIEW DynamicInsights, a new interactive legal rate solution. Corporate legal departments and law firms can now benchmark law firm rate trends, build data-driven budgets, and support strategic firm management with unrivaled transparency. The solution is powered by Wolters Kluwer’s LegalVIEW database, which now includes more than $200 billion in anonymous data from actual billed legal invoices.

Brian Jorgenson, Vice President, Product Management at Wolters Kluwer ELM Solutions: “Corporate legal departments and law firms alike face demand to create greater transparency around the delivery of legal services and drive competitive rates. With the launch of LegalVIEW DynamicInsights, Wolters Kluwer has made it easier than ever for legal professionals to connect with the data-enriched insights needed to enhance spend visibility, build cost effective legal strategies, and grow strong corporate legal department and law firm relationships.”

LegalVIEW DynamicInsights helps legal organizations drive more complete rate benchmarking with these features:

• Fast Access to Critical Insights: Mean and median rates as defined by timekeeper role, practice area, industry, city, country and AmLaw tier are expressed as a series of interactive visualizations. Additional context is provided by graphs charting the change in rates across categories. We also provide insights to help you better understand changes and trends in the market.

• Chart Historical Rate Trends: Dynamic visualizations make it easier to track hourly rate trends and year-over-year changes. Intuitive filters also enable users to quickly focus the data according to strategic factors such as law firm role or years of experience.

• Insights for Strategic Planning: Rate trends and analysis provide a strong foundation for strategic decision-making. Corporate legal departments can strengthen cost controls and align with budgetary goals. Data-driven insights allow firms to analyze their industry standing, compare pricing across key market segments, and uncover new opportunities for growth.

Wolters Kluwer’s LegalVIEW database also empowers an ongoing series of LegalVIEW Insights blogs, webinars, and other content that examines legal spend patterns inside corporate law departments.

About Wolters Kluwer

Wolters Kluwer (EURONEXT: WKL) is a global leader in information, software solutions and services for professionals in healthcare; tax and accounting; financial and corporate compliance; legal and regulatory; corporate performance and ESG. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with technology and services.

Wolters Kluwer reported 2023 annual revenues of €5.6 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 21,400 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands.

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