Company: Wolters Kluwer's ELM Solutions, Houston, TX
Company Description: ELM Solutions empowers customers to succeed in delivering higher organizational value by becoming more productive and efficient through specialized technology solutions, finding answers to complex problems through the use of deep domain-specific analytics and helping organizations cross performance barriers through rich and relevant technologies, services, solutions and learning opportunities.
Nomination Category: New Product & Service Categories - Business Technology
Nomination Sub Category: Legal Solution
 Nomination Title: Wolters Kluwer's ELM Solutions' TyMetrix 360°
- Which will you submit for your nomination in this category, a video of up to five (5) minutes in length about the nominated new or new-version product or service, OR written answers to the questions for this category? (Choose one):
Written answers to the questions
- If you are submitting a video of up to five (5) minutes in length, provide the URL of the nominated video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video.
- If you are providing written answers for your submission, you must provide an answer to this first question: If this is a brand-new product, state the date on which it was released. If this is a new version of an existing product, state the date on which the update was released:
October 19, 2022
- If you are providing written answers for your submission, you must provide an answer to this second question: Describe the features, functions, and benefits of the nominated product or service (up to 350 words):
Total 337 words used.
Wolters Kluwer’s ELM Solutions is the market-leading global provider of enterprise legal spend and matter management, contract lifecycle management and legal analytics solutions. ELM Solutions’ TyMetrix 360° is the company’s SaaS-based e-billing and matter management platform that helps corporate legal and insurance claims departments make smarter, data-driven decisions while improving performance. TyMetrix 360°:
- Streamlines legal matter management to improve staff efficiencies
- Strengthens collaboration with outside counsel to improve matter outcomes and better control costs
- Improves decision-making with easy-to-run reports that provide real-time visibility into legal spend and other performance metrics
- Reduces system support costs and drives down total cost of ownership
To enhance the platform foundation and protect clients’ existing software investments, TyMetrix 360° integrates with clients’ adjacent legal technology. These integrations can be designed with specific formatting or data transfer protocols to meet the business, security, and technological needs of each client. TyMetrix 360° technology integrations include:
TyMetrix 360° Office Companion: Users have single-click access to matters directly from Outlook, Word, Excel, and Powerpoint, streamlining matter workflows through the Microsoft Office suite.
Document Management Systems: While TyMetrix 360° provides native document management capabilities, this integration is a more efficient approach for some clients with an existing enterprise document management solution.
Legal Holds: This module offers an easy-to-use workflow for automating the assignment, notification, and administration of custodian acknowledgements, minimizing risk and maximizing defensibility.
Accounts Payable: TyMetrix 360° provides eBilling capabilities and supports robust integration with AP systems.
With the latest release, TyMetrix 360° introduced a new user interface that embodies a modern, user-centric experience and allows for more intuitive navigation and interaction. This UI update provides more flexibility in the platform’s functionality and utilizes the most up-to-date security and authentication processes available. In developing the improved UI, ELM Solutions’ award-winning team of UX specialists integrated the latest user-centric research techniques to ensure the voice of the customer was heard and engineered into the solution. They conducted user research interviews, surveys, and user testing to ensure that customer preferences and expectations were reflected in the finished product.
- If you are providing written answers for your submission, you must provide an answer to this third question: Outline the market performance, critical reception, and customer satisfaction with the product or service to date. State monetary or unit sales figures to date, if possible, and how they compare to expectations or past performance. Provide links to laudatory product or service reviews. Include some customer testimonials, if applicable (up to 350 words):
Total 324 words used.
TyMetrix 360° has a proven track record of strong market performance and high customer satisfaction, backed up by positive user reviews, industry recognition, and customer testimonials. The software's customizability, reporting capabilities, and ease of use have helped it become a trusted tool for managing legal spend and improving outcomes for enterprises.
Below are a few examples of customer testimonials:
TyMetrix® 360° has helped us to be able to focus on what's really important. You know you have the systems to help you out, but it's really the patients that matter. Some data that comes in through some of the litigations helps us to analyze that data to make sure that we're making better products for them.” - Large pharmaceutical company
“The functionality in TyMetrix 360° has helped us advance our core strategy of partnering with our law firms, and we are pleased with our success and the reception that we have received from our firms.”– Westfield Insurance
“We use data out of TyMetrix 360° for almost every decision we make. Whether we're looking at internal resources, sourcing things differently, how we resource things, what our cost is, how we bid out to the firms. That data's so valuable to us." – Lenovo Motorola
“TyMetrix 360° is another source of data. We love data. It's one of the things that insurance companies love to be able to get their hands on. The more data the better, so it's a source, for us, to compile data and to start to be able to use it in a meaningful format.” – Insurance client
“We have easily seen 5-10% ROI just on enforcing our billing guidelines, creating the automated rules, having the bills audited as they come in, and pointing things out to the attorneys who then can take advantage of that. Now, they can just go in and click a button, make the change, and the firm gets paid.” – PNC Bank
- You have the option to answer this final question: Reference any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):
Total 26 words used.
TyMetrix 360° product video - Introduction to the solution
TyMetrix 360° updated UI video - overview of UI improvements in current release
TyMetrix 360° product site
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