The recently-merged Enterprise Legal Management industry leaders, Datacert and TyMetrix, announced today that the new name for the combined business is “ELM Solutions.” The merging of Datacert and TyMetrix, both pioneers of the ELM industry, brought together the most comprehensive set of ELM software and services in the market. With these combined resources, ELM Solutions, a Wolters Kluwer business, provides innovative solutions that address the intricate complexities facing corporate legal departments, law firms, claims departments, and risk and compliance organizations. The company collaborates with its clients and partners to develop its technology-based solutions, with the goal of enabling businesses to be more connected and have clear line of sight across their legal and risk-related data.
“Our industry has evolved a great deal in the past decade, with increases in cost and regulatory pressures driving much more complex and far-reaching legal and risk management market needs,” stated Jim Tallman, executive vice president and general manager, ELM Solutions. “Companies are finding that it is no longer sufficient to use disparate, siloed systems to try to manage this complexity. Rather, they now are looking at more holistic solutions that integrate their operations and data and enable them to address their needs with better insights. In order to support these needs, vendors need to bring much more to the table than they have in the past.”
Using advanced platform technology, ELM Solutions helps clients consolidate all essential legal, risk, compliance, and business processes into a single, extensible software system that enables data analytics to extract a more holistic view of their legal operation and risk exposure, providing insights that enable better legal decisions and enterprise-wide risk mitigation. ELM Solutions has a global network of 70+ partners that provide complementary software and services (e.g., eDiscovery, document management, regulatory content, etc.) that connect to the company’s technology platform, enabling clients to custom-design an ELM ecosystem for their unique needs. This allows companies to take a best-in-class approach to enterprise software selection, while still achieving the benefits of system consolidation, including streamlined workflows and broader visibility, while simplifying the user experience.
“As the new name of our business, ‘ELM Solutions’ conveys our vision for the future of our industry and our commitment to supporting our client’s growing and increasingly-complex needs by providing comprehensive solutions for the legal department and beyond,” stated Tallman. “Enterprise Legal Management is much, much bigger than just legal matter and spend management. ELM Solutions clients recognize this, are already implementing more holistic solutions, and are therefore better positioned to manage the increased complexities of the businesses they support and to make more effective legal decisions.”
Wolters Kluwer acquired Datacert in 2014 and combined it with its existing ELM business, TyMetrix, creating the largest ELM vendor in the market, which is five times larger than its next closest ELM competitor. This enables ELM Solutions to invest more in R&D than the total revenues of all other ELM vendors combined. Wolters Kluwer, a global information services company, which is #29 on the 2014 PwC Global 100 Software Leaders list, has a broad portfolio of legal and compliance businesses with solutions that complement and enhance the ELM Solutions portfolio of offerings. For example, other Wolters Kluwer businesses have regulatory content solutions that can be ported into the ELM Solutions compliance product, Passport® GRC.
“We are not only the largest ELM vendor in the market, we also have the largest R&D budget, the most advanced technology platform, a global network of 70+ partners, and the backing of Wolters Kluwer,” stated Tallman. “What this means to the market is that ELM Solutions is much better positioned than any other ELM vendor to support their complex, broad legal and compliance technology needs. With our partner network and platform technology, we also simplify technology selection and implementation for companies by reducing the number of vendors they have to work with and by providing connectors to many of the systems that clients commonly want to integrate with as part of their ELM ecosystem.”
