CLM Matrix from Wolters Kluwer's ELM Solutions, the market-leading provider of enterprise legal spend and matter management, contract lifecycle management, and legal analytics solutions, has been recognized as a “Strong Performer” in The Forrester Wave™: Contract Lifecycle Management For All Contracts, Q1 2021 report.
According to the report, contract management software has transcended its original purpose of creating, negotiating, and storing contracts and evolved into a critical engine of business intelligence and analytics.
“Wolters Kluwer's ELM Solutions emerges as a leading option for legal departments…Wolters Kluwer, a leading provider of enterprise legal management (ELM) software, acquired CLM Matrix to add to its portfolio of software tools for legal departments and law firms,” the report, authored by Andrew H. Bartels, VP and Principal Analyst at Forrester Research, Inc., notes. “Since that acquisition, Wolters Kluwer's ELM Solutions has integrated the CLM product with the rest of its products in terms of workflow and data and enhanced the user interface.” The reports also notes how clients of Wolters Kluwer's ELM Solutions “gave it above-average scores for usability and vendor support.”
“We are elated that CLM Matrix has been recognized as a strong performer and that client feedback gave above-average scores for usability and vendor support,” said Grant Ramsey, Director, General Management, for Wolters Kluwer's ELM Solutions’ CLM Matrix. “We believe this ranking confirms that CLM Matrix is now aligned with the portfolio of world-class workflow tools that automate processes to improve efficiency and drive positive business outcomes that we deliver to corporate legal departments globally.”
CLM Matrix addresses the growing need of corporate legal departments who oversee the organization’s contracting process. Through integration with Wolters Kluwer’s Passport® and TyMetrix® 360° matter and spend management solutions, CLM Matrix helps customers leverage the power of contract management in concert with matter management. These workflows provide increased efficiencies and greater visibility into contract transactions, helping organizations mitigate corporate risk.
ELM Solutions, part of Wolters Kluwer’s Governance, Risk & Compliance division, is the market-leading global provider of enterprise legal spend and matter management, contract lifecycle management, and legal analytics solutions. The company provides a comprehensive suite of tools that address the growing needs of corporate legal operations departments to increase operational efficiency and reduce costs. Corporate legal and insurance claims departments trust its innovative technology and end-to-end customer experience to drive world-class business outcomes.
Wolters Kluwer's ELM Solutions was named a leader in both the IDC MarketScape: Worldwide Enterprise Legal Spend Management 2020 Vendor Assessment and IDC MarketScape: Worldwide Enterprise Matter Management 2020 Vendor Assessment. The company’s award-winning products include Passport®, the highest-rated ELM solution in the latest Hyperion MarketView™ Legal Market Intelligence Report and TyMetrix® 360°, the industry’s leading SaaS-based e-billing and matter management solution. ELM Solutions’ LegalVIEW® portfolio of legal analytics solutions is based upon the industry’s largest and most comprehensive legal spend database, with more than $140 billion in invoices.
About Wolters Kluwer Governance, Risk & Compliance
Governance, Risk & Compliance is a division of Wolters Kluwer, which provides legal and banking professionals with solutions to help ensure compliance with ever-changing regulatory and legal obligations, manage risk, increase efficiency, 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 2020 annual revenues of €4.6 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.