Wolters Kluwer’s ELM Solutions Introduces AI-Enabled Intelligent Invoice Conversion
HOUSTON--(BUSINESS WIRE)--May 2, 2019--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.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190502005534/en/
CONTACT: Erica Glass
Director, Global Corporate Communications – Legal Solutions
Governance, Risk & Compliance
KEYWORD: UNITED STATES NORTH AMERICA MINNESOTA TEXAS
INDUSTRY KEYWORD: TECHNOLOGY SOFTWARE PROFESSIONAL SERVICES CONSULTING INSURANCE LEGAL
SOURCE: Wolters Kluwer
Copyright Business Wire 2019.
PUB: 05/02/2019 10:23 AM/DISC: 05/02/2019 10:23 AM