Wolters Kluwer’s ELM Solutions Introduces AI-Enabled Intelligent Invoice Conversion

New Passport® and TyMetrix® 360° Releases Offer Enhanced Analytics
and User Experience

HOUSTON–(BUSINESS WIRE)–Wolters Kluwer’s ELM
Solutions
 announced the launch of Intelligent Invoice Conversion, a
new managed service that uses artificial intelligence and human expert
review to convert paper and PDF invoices into Legal Electronic Data
Exchange Standard (LEDES) files that are submitted electronically
through ELM Solutions’ Passport and TyMetrix 360° e-billing solutions.

“As pressure mounts on legal departments to increase efficiency, it is
critical that companies have a comprehensive view of e-billing and data
analytics to guide spend and matter management decisions,” said Barry
Ader, Vice President of Marketing and Product Management for Wolters
Kluwer’s ELM Solutions. “This latest example of AI-powered service
highlights our ability to make a meaningful impact on our customers
business through advanced technology. Intelligent Invoice Conversion
enables 100 percent electronic billing, empowering corporate legal and
claims departments with better visibility to track and manage their
outside counsel. Now, companies can have a complete view of their
outside counsel legal spend.”

Leveraging leading-edge technology to respond to the needs of our
customers, the releases of Passport®
19.1 and TyMetrix®
360°
2019.1 include three key innovative enhancements in business
intelligence and analytics capabilities.

  • LegalVIEW
    dashboards for Passport have been expanded to include operational
    management and inventory management dashboards, providing both
    business intelligence and at-a-glance views of key performance metrics
    and analytics for legal operations.
  • The Legal Holds modules have been enhanced to give corporate legal and
    claims departments greater visibility and control of their legal holds
    by adding support for “per-hold” notifications, enabling proxy
    acknowledgements and supporting silent or confidential holds.
  • With Office Companion Smart Assist, TyMetrix®
    360°
    users can now approve, adjust or reject invoices from within
    their Microsoft Outlook inbox. In this release, Smart Assist has been
    enhanced to support additional browsers and mobile devices, as well as
    new single sign-on options.

Wolters Kluwer’s ELM Solutions is the market-leading provider of
enterprise legal spend and matter management and legal analytics
solutions. Corporate legal and insurance claims departments and their
law firms worldwide trust our flexible, multi-solution approach to help
control costs, collaborate more effectively, and drive better outcomes.
This includes Passport®,
the highest rated ELM solution in the Hyperion Marketview™ Legal Market
Intelligence Report; TyMetrix®
360°
, the industry’s leading SaaS-based e-billing and matter
management solution; and the LegalVIEW® portfolio
of legal analytics solutions based upon the industry’s largest and most
comprehensive legal spend database, with more than $128 billion in
invoices.

About Wolters Kluwer Governance, Risk & Compliance

Governance, Risk & Compliance (GRC) is a division of Wolters
Kluwer
, which provides legal and banking professionals with
solutions to 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 2018
annual revenues of €4.3 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.

Contacts

Erica Glass
Director, Global Corporate Communications – Legal
Solutions
Governance, Risk & Compliance
212-894-8825
Erica.glass@wolterskluwer.com

error: Content is protected !!