LegalTech Corporate Legal Department News: Wolters Kluwer’s ELM Solutions adds spend management capabilities to Passport Office Companion
Wolters Kluwer’s ELM Solutions today announced it has added comprehensive spend management capabilities to its award-winning Passport Office Companion solution.
ELM Solutions introduced Office Companion with matter management to legal and insurance claims professionals in 2017 to help enhance their user experience. Its unique modular architecture and state of the art web technologies allow Passport’s spend and matter management capabilities to be extended within the Microsoft Office Suite to support a wide range of legal workflows. Approximately sixty percent of legal professionals’ daily work is performed within the Microsoft Office Suite according to research by IDC and McKinsey.
Passport Office Companion’s new spend management capabilities “include invoice review, adjustment, approval, and rejection as well as the ability to drill down into details of an invoice at the line item”, the company says. In addition, other key features, including invoice summary information and adjustment history are included to easily provide visibility and management of invoices.
Passport Office Companion also offers users the ability to connect seamlessly to legal document management systems in addition to the native document functionality within Passport, “further simplifying the user experience and increasing efficiency of users.”
“Passport Office Companion provides a much richer set of spend and matter management capabilities and a more integrated user experience within Microsoft Office,” said Barry Ader, Vice President of Product Management and Marketing for Wolters Kluwer’s ELM Solutions. “Users can streamline the cumbersome process of managing invoices, one of the most common tasks performed by legal professionals, inside of the Microsoft Office Suite, using the technology applications they are most familiar with.”
In November 2017, Hyperion Research, the legal industry’s premier source of independent market research and advisory services, honored Passport with a number of its highest accolades as an “Advanced Solution” in the analyst firm’s updated release of its “MarketView Report for Enterprise Legal Management (ELM).”
“ELM’s Passport has established itself this decade as a high-profile technology platform for enterprise-level corporate law departments,” Hyperion noted in its report. “With its mature matter management and legal spend management capabilities, and a modular approach designed to support individual law department profiles that offers plug-in capabilities for insurance claims and other areas, Passport can support the highly complex and configurable enterprises in demand today.”
Hyperion judged Passport’s capabilities with the strongest scores in six of the report’s eight categories, including Product Features, Usability, and Maturity; Technology; Company Viability; and Market Vision. In addition, Hyperion recognized Passport with many distinguished recognitions, including as a Market Leader for both Workflow-Driven Spend Management and Global E-Billing and awarded Highly Innovative designations for Passport’s Diversity Module as well as its implementation and training processes.
Passport®Office Companion earned a Silver Stevie Award for New Product or Service of the Year – Software – Integration Solution in the 2017 American Business Awards competition. Corporate Vision magazine also recognized Passport as its Best Enterprise Legal Management Platform for the second year in a row last year.
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 ensure compliance, control costs and collaborate more effectively. This includes Passport, the highest rated ELM solution in the 2017 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 $100 billion in invoices.