Industry Leading SaaS-based e-Billing and Matter Management Platform Delivers Intuitive New Tools that Empower Customers to Make Smarter Decisions on Legal Matters
Wolters Kluwer ELM Solutions, the market-leading provider of enterprise legal spend and matter management, contract lifecycle management, and legal analytics solutions announced the release of TyMetrix 360° 2020.1 offering enhancements to help customers make smarter, data driven decisions while increasing operational efficiencies.
Read More: Analyticom Introduces a Scientific Model That Keeps Investments Stable During Market Volatility
“This latest TyMetrix 360° release demonstrates our leadership in helping customers improve their legal operations with our portfolio of solutions that marry innovation and our unmatched volume of legal performance data. “ ”
The latest release of TyMetrix 360° offers many features that harness our proprietary LegalVIEW® database, the world’s largest and most comprehensive legal spend database. These features support three critical activities of a legal operations department:
- Law firm selection and matter budgeting: LegalVIEW® Predictive Insights is a new module that provides customers with information they need to select the right law firm to handle each litigated matter using artificial intelligence (AI) and analytics from the LegalVIEW® database. Predictive Insights also predicts budgets and matter duration, equipping corporate legal and claims professionals with practical data to use in developing a legal strategy and budget right within their workflow. The module ranks the best law firms for litigated matters using predictive budget and time data along with a customer’s customized criteria, helping customers make better law firm selections and manage their budgets. To see how LegalVIEW® Predictive Insights empowers better decisions and improved efficiencies.
- Rate comparison: LegalVIEW® Embedded Rate Benchmarks help corporate legal and insurance claims departments determine whether an outside law firm’s proposed rate is fair in comparison to other rates with similar criteria, right within the workflow. This benchmarking saves organizations money by providing real-time data to streamline rate negotiations and helps users make faster, more informed data-driven decisions.
- Invoice review: The LegalVIEW® BillAnalyzer Data Service, launched in February 2020, is a managed service offering that extends our success with the LegalVIEW® BillAnalyzer Expert Service by empowering in-house legal bill review teams with AI and data analytics to improve efficiency, increase compliance and reduce legal spend. It provides review teams with insights into billing practices, performance metrics and cost and compliance savings. The TyMetrix 360° enhancements optimize the invoice review workflow for customer bill reviewers, allowing clients to drive more accurate, compliant bill review with reduced human error and greater efficiency – right within TyMetrix 360°.
Read More: WorldRemit Partners with Wizall Money to Launch its First Mobile Money Transfer Service to Senegal
