“With tighter budgets, clients are turning to Wolters Kluwer to help their legal department work efficiently,” said Alyza Tarmohamed, Senior Director of LegalVIEW® BillAnalyzer for Wolters Kluwers ELM Solutions. “LegalVIEW® BillAnalyzer, our now patented AI technology, leverages the world`s largest repository of legal spend data to help our clients improve their legal operations and save money. Since 2017, legal spend on the LegalVIEW® BillAnalyzer service has increased 25-fold, improving solution accuracy for our clients while saving them up to 10% on legal fees and up to 20% on billing policy compliance. We are pleased that the USPTO has recognized how our unique process and unparalleled technology helps customers solve real-world problems. Governance, Risk & Compliance (GRC) is a division of Wolters Kluwer that provides legal and banking professionals with solutions to ensure compliance with evolving regulatory and legal obligations, manage risk, increase efficiency and achieve better business outcomes. GRC offers a portfolio of technology expert services and solutions focused on entity compliance, legal operations management, banking product compliance and banking regulatory compliance. Wolters Kluwer`s ELM Solutions is the world`s leading provider of corporate legal and expense solutions, contract lifecycle management and legal analytics. We offer a full range of tools to meet the growing needs of corporate legal departments to increase operational efficiency and reduce costs. Legal and insurance services leverage our innovative technology and end-to-end customer experience to deliver world-class business results.
Wolters Kluwer`s ELM solutions have been recognized as a leader in both the IDC MarketScape: Worldwide Enterprise Legal Spend Management 2020 Vendor Assessment and the IDC MarketScape: Worldwide Enterprise Matter Management 2020 Vendor Assessment. Award-winning products include Passport®, the highest-rated ELM solution in the latest Hyperion MarketView™ Legal Market Intelligence report; TyMetrix® 360°, the industry-leading SaaS solution for e-invoicing and records management; CLM Matrix, described as “high performing” in the Forrester Wave Q1 2019 CLM report; and LegalVIEW`s portfolio® of legal analytics solutions, built on the industry`s largest and most comprehensive legal spend database with invoices worth more than $140 billion. Paul LyonSenior Director, Global Corporate Communications: Global Marketing, Communications & PlanningDivision Governance, Risk & ComplianceWolters KluwerOffice +44 20 3197 6586Paul.Lyon@wolterskluwer.com Wolters Kluwer launched LegalVIEW® BillAnalyzer in 2017 to help corporate and insurance legal departments more effectively manage incoming invoices and improve cost management. The proprietary AI-powered automated invoice verification system is capable of providing a high level of accuracy and efficiency throughout the invoice verification process compared to non-AI-powered invoice verification processes. This unique design results in accurate, high-quality billing adjustments and cleaner billing over time. The patented AI technology uses natural language processing and several model-based predictors to power an invoice verification system that delivers the best results to customers. ELM Solutions, part of Wolters Kluwer GRC, is a leading global provider of solutions for corporate legal and expense management, contract lifecycle management and legal analysis. The company offers a comprehensive suite of tools that meet the growing needs of the company`s legal departments to increase operational efficiency and reduce costs. Legal and insurance services leverage its innovative technology and end-to-end customer experience to deliver world-class business results. Wolters Kluwer CRM`s other legal solutions business is CT Corporation. The division`s Banking and Regulatory Compliance activities are Wolters Kluwer Compliance Solutions and Wolters Kluwer Finance, Risk & Regulatory Reporting.
Wolters Kluwer (WKL) is a leading global provider of business information, software solutions and services for the healthcare industry. taxation and accounting; governance, risk and compliance; and the legal and regulatory sectors. We help our clients make important decisions every day by providing expert solutions that combine deep expertise with specialized technologies and services. Wolters Kluwer achieved annual sales of €4.8 billion in 2021. The Group serves customers in more than 180 countries, has offices in more than 40 countries and employs approximately 19,800 people worldwide. The company`s headquarters are located in Alphen aan den Rijn, the Netherlands. LegalVIEW® BillAnalyzer is offered in two service models that leverage patented AI technology. The LegalVIEW® BillAnalyzer expert service manages the entire invoice verification process through a combination of advanced technology, machine learning, and legal auditing to improve third-party compliance with billing policies while enabling clients to realize significant cost savings.