Since their introduction, enterprise legal management (ELM) solutions have been helping corporate legal and claims departments automate processes, streamline efficiencies, mitigate risk, control costs, and better manage the business of law.
As the complexities of corporate legal departments grow, ELM technology solutions are also being leveraged to include integrated functionalities that address adjacent challenges, like contract lifecycle management (CLM).
In our eBook, Enterprise Legal Management: Benefits of Integrated Matter, Spend, and Contract Management Solutions, we talk about the best-in-class matter, spend, and contract management solutions offered by Wolters Kluwer and the added benefits that can be recognized through integrated workflows and data.
Beyond matter and spend
Up to now, legal operations professionals have focused on matter and spend management. However, an organization’s contracts represent the strongest connection between the legal department and all other functions. As a result, it is a growing responsibility within legal operations. However, the siloed management of contracts prevents the ability to uncover efficiencies across legal workflows and utilize shared data to drive better-informed business decisions.
The added benefits of integrated matter, spend, and contract management solutions
Luckily, Wolters Kluwer offers integrated matter and spend (Passport® and TyMetrix® 360°) and CLM (CLM Matrix) solutions to give all the parties involved the transparency and tracking they need. Through these platforms, legal professionals will recognize added efficiencies, enhance compliance outcomes, and leverage shared data points for improved business decisions.
Passport and TyMetrix 360°: These enable organizations to manage legal matters and spend with essential features, robust analytics that provide real-time visibility and insights, and best practice workflows.
CLM Matrix: An easy-to-use, end-to-end contract lifecycle management solution with foundational capabilities prepared to address your team’s current needs and advanced features to grow with you on the path to CLM process optimization.
Connected workflows deliver organizational improvement. These improvements include:
- Centralized visibility
- Improved decision-making
- Streamlined workflows and increased productivity
- Cost control and improved profitability
Not only does this reduce the stress that comes with contracts, but it also improves the overall workflow of everyone involved.
Click here to download our eBook to learn more about our solutions, and contact us to see examples in action of how we can help your business.