Recently, Hyperion released their 2021 MarketView Report for Enterprise Legal Management: e-Billing and Matter Management Systems for Corporations. We at Wolters Kluwer’s ELM Solutions are pleased to have been included and happy to report the findings related to our solutions.
Our Passport® and TyMetrix® 360° platforms have been named as Advanced Solutions in the last three Hyperion reports on the ELM market. Our recognition this year included five special designations, two as a Market Leader and three as Highly Innovative.
The Passport solution was recognized as a Market Leader for our Integrated Legal Ops as well as our Content Driven Platform capabilities. Additionally, Passport was recognized as Highly Innovative for Decision Support Tools. TyMetrix 360° shares the same capabilities in regard to its Integrated Legal Ops and Content Driven Platform, and these were recognized by Hyperion as Highly Innovative. We are proud of these findings, as it demonstrates our continued leadership in key solution capabilities, which help our customers better manage their business.
Praise for ELM Solutions platforms
Both Passport and TyMetrix 360° are integrated with the LegalVIEW® database, the world’s largest source of legal performance data, powered by over $140 billion in legal spend records. Hyperion called out the value of this data in its evaluation of both solutions, saying “LegalVIEW integrated data provides a unique and growing set of data capable of informing decisions, automating workflows and enhancing productivity.”
LegalVIEW Predictive Insights was also cited as a strength for both platforms: “LegalVIEW predictive analytics simplifies the outside counsel selection process, delivering insights and value beyond rate benchmarking.”
Other highlights from Hyperion’s analysis of Passport include:
- “Today’s legal technology framework includes multiple applications, and Passport has the tools to play well in that ecosystem. The Passport Connector Library and a complete developer kit enable connections with applications throughout the enterprise.”
- “Users will find Passport easy to navigate with a modern, well-organized interface. Dashboards are readily accessible, providing quick access to critical case and financial data.”
- “Passport notably differentiates itself from the competitive landscape with its integrated LegalVIEW platform, which stands out for its ability to deliver an operational framework focused on quality, outcomes, and data-driven decision-making.”
- “Rich management tools combined with LegalVIEW data warehouse, integrated spend analytics, benchmarking and predictive insights deliver powerful insights and accelerate law department productivity.”
In addition, the report included the following comments on TyMetrix 360°:
- “An approachable SaaS solution that enables smaller teams to take advantage of spend and matter management without the overhead and effort commonly attributed to ELM systems.”
- “Administrators will appreciate TyMetrix 360’s simplicity and modular design.”
- “Clients with advanced invoicing needs will appreciate TyMetrix 360’s support for invoicing rules, adjustments, discounts, alternative fee arrangements, and budgets.”
To read more about what an enterprise legal management system can do for your organization, download our eBook: Top 10 Considerations for an E-Billing and Matter Management Solution.