Wolters Kluwer ELM Solutions today announced the launch of LegalCollaborator, a breakthrough legal engagement and competitive bidding software that marks the next evolution in the company’s innovative approach to Total Legal Spend Management. The solution integrates seamlessly with ELM Solutions’ TyMetrix 360° and Passport platforms to not only capture early law firm engagement information and competitive pricing insights but also provide enforcement of pricing agreements for full vendor transparency and cost management.
“With the launch of LegalCollaborator, Wolters Kluwer continues to lead the way for innovation in comprehensive software solutions empowering corporate legal departments and their law firm partners,” said Raja Sengupta, Executive Vice President and General Manager of Wolters Kluwer ELM Solutions. “Our market-leading combination of deep domain knowledge, insights mined from industry’s deepest and broadest datasets, and comprehensive enterprise legal management software helps legal professionals to maximize value in every phase of their engagements.”
For the first time, legal professionals will have access to an efficient, scalable, and transparent process for initiating single law firm engagements and competitive bids. LegalCollaborator removes subjectivity from law firm selection, providing a series of pre-defined templates that allow users to efficiently collect and view critical matter details such as conflict waivers, strategy, staffing, and pricing structure side-by-side. A user-friendly interface will provide corporate legal teams with more transparency into their matters, driving an unparalleled ability to accomplish the desired outcome at the best possible cost. Meanwhile, their law firm partners can use the solution to demonstrate the unique strategies and crucial differentiators paramount to successful matter outcomes. This generates a more competitive bidding environment that brings only the best firms to the top.
By integrating LegalCollaborator with TyMetrix 360° and Passport, Wolters Kluwer is helping organizations streamline the disconnected matter planning and competitive bid management systems that have traditionally made it difficult to successfully track spend throughout the life of a matter. For example, users can leverage AI-powered spend management tools, such as ELM Solution’s LegalVIEW BillAnalyzer, as well as the $180+ billion in historical performance data found in the LegalVIEW database, to both set as well as enforce strong billing guidelines to tightly control spend.
