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, was recognized as a “Strong Performer” in contract lifecycle management in The Forrester Wave™ 2019 report.
The report discusses how contract management software creates business value for corporations and how enterprises are deepening their utilization of contract management products to improve business outcomes.
Andrew H. Bartels, Vice President and Principal Analyst at Forrester Research, Inc. said CLM Matrix “clients loved its usability and gave it very high scores for implementation support and ongoing customer service.” He noted that “CLM Matrix uses tight Microsoft Office integration to create easy-to-use CLM… it leverages the strengths of Microsoft such as user familiarity with Word, Excel, and Outlook; Office’s multilanguage [capabilities] and global reach…. It is strong in contract creation, contract repository, and contract process management.”
Wolters Kluwer’s ELM Solutions acquired CLM Matrix in May in order to offer a more comprehensive suite of technology solutions to address the growing need of corporate legal operations departments to oversee the contracting process. According to Bartels, “The CLM market is growing because more contract managers and legal and finance professionals use CLM to address the challenges of creating, managing, and getting the best business results from their contracts.”
“This ranking confirms that CLM Matrix is a tremendous addition to the portfolio of world-class workflow tools we deliver to corporate legal departments globally,” said Jonah Paransky, Executive Vice President and General Manager for Wolters Kluwer’s ELM Solutions. “We are elated that industry analysts agree with our customers that CLM Matrix provides a great user experience while offering a strong product that transforms the way companies manage their contracts.”
CLM Matrix is 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 also provides companies with insight into key performance metrics that can drive organizational efficiencies, manage risk, and decrease contract cycle times.