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June 14, 2021, Houston <\/strong>\u2014 Nathan Cemenska<\/a>, Director of Legal Operations and Industry Insights for Wolters Kluwer ELM Solutions,<\/a> will explore critical factors influencing annual legal spend and other billing considerations in a panel session, \u201cRightsourcing Optimization: Decision Tree-based Approaches<\/em>,\u201d as part of the 2021 Virtual Association of Corporate Counsel (ACC) Xchange conference (XL21)<\/a>. Open to both ACC members and non-members, the one-hour session will take place at 11:30 am ET Wednesday, June 16.<\/p>\n Using information from the LegalVIEW\u00ae Data Warehouse, Cemenska will explore opportunities corporate legal departments (CLDs) have to reduce outside legal costs for certain matters by exploring other vendors and alternative legal service providers (ALSPs). By considering a broader range of options, CLDs can create more accurate budgets and develop more competitive and profitable pricing and fee arrangements. The LegalVIEW\u00ae Data Warehouse is the largest body of legal performance data globally \u2013 it includes more than $140 billion in legal spend and powers ELM Solutions\u2019 artificial intelligence, benchmarking, predictive and analytics offerings.<\/a><\/p>\n Joining Cemenska as XL21 session panelists are banking giant UBS executives John Burke<\/a> (Assistant General Counsel, Corporate Vice President) and Sandra Sv\u00e4rd<\/a> (Group General Counsel Office, Outside Counsel Management). The legal operations leaders will delve into the groundbreaking framework for their new \u201csmart sourcing\u201d solution, which triages legal work to risk- and cost-appropriate vendors. Following that discussion, participants will break out into groups focusing on the subjects mentioned above and adjacent topics like panel management, knowing the expertise within your own legal department, and trends in insourcing.<\/p>\n \u201cOur LegalVIEW\u00ae Data Warehouse data suggests that many law departments, consciously or unconsciously, are not considering every available option, including ALSPs, to help them be more efficient and achieve better outcomes,\u201d said Cemenska. \u201cSome savvy companies are bucking the trend by carefully classifying legal matters based on risk and complexity and sourcing them based on those. If other corporate legal departments followed a similar approach, it could save businesses multiple millions of dollars every year.\u201d<\/p>\n Produced in partnership with ACC\u2019s Law Department Management Network and Legal Operations Section, XL21 offers legal executives, practice leads, and operations professionals the chance to\u202fdiscover best practices and hone the innovation mindset. Sessions are designed to help attendees tackle burgeoning challenges,\u202ftogether with\u202finspired learning opportunities that are practical, interactive, and developed\u202ffor all legal leaders\u202foperating in today\u2019s continuously evolving business environment.<\/p>\n Cemenska, who joined Wolters Kluwer in 2018, is responsible for developing research and thought leadership using data from its LegalVIEW\u00ae Data Warehouse. He previously worked in management consultancy, helping GCs improve law department performance, and has prior experience as a legal operations business analyst.<\/p>\n ELM Solutions, part of Wolters Kluwer\u2019s Governance, Risk & Compliance division<\/a>, is the market-leading global provider of enterprise legal spend and matter management, contract lifecycle management and legal analytics solutions. The company provides a comprehensive suite of tools that address the growing needs of corporate legal operations departments to increase operational efficiency and reduce costs. Corporate legal and insurance claims departments trust its innovative technology and end-to-end customer experience to drive world-class business outcomes.<\/p>\n Wolters Kluwer ELM Solutions was named a leader in both the IDC MarketScape: Worldwide Enterprise Legal Spend Management 2020 Vendor Assessment and IDC MarketScape: Worldwide Enterprise Matter Management 2020 Vendor Assessment. The company\u2019s award-winning products include\u00a0Passport\u00ae<\/u>, the highest rated ELM solution in the latest Hyperion MarketView Governance, Risk & Compliance is a division of Wolters Kluwer<\/a>,\u00a0which provides legal and banking professionals with solutions to help 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.<\/p>\n 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 2020 annual revenues of \u20ac4.6 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 19,200 people worldwide.<\/p>\n Tags:<\/b> Paul Lyon Andrew Ferraro The post Wolters Kluwer ELM Solutions expert to offer legal spend insights at 2021 Virtual Association of Corporate Counsel Xchange conference<\/a> appeared first on Financial Market Brief<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" Nathan Cemenska, joined by UBS executives, to discuss law firm outsourcing, hourly rate trends, and annual legal spend June 14, 2021, Houston — Nathan Cemenska, Director of Legal Operations and Industry Insights for Wolters Kluwer ELM Solutions, will explore critical factors influencing annual legal spend and other billing considerations in a panel session, “Rightsourcing Optimization: […]<\/p>\n The post Wolters Kluwer ELM Solutions expert to offer legal spend insights at 2021 Virtual Association of Corporate Counsel Xchange conference<\/a> appeared first on Financial Market Brief<\/a>.<\/p>\n![\"™\"](\"https:\/\/s.w.org\/images\/core\/emoji\/13.0.0\/72x72\/2122.png\")
<\/sup>Legal Market Intelligence Report and TyMetrix\u00ae 360\u00b0<\/a>, the industry\u2019s leading SaaS-based e-billing and matter management solution.\u00a0CLM Matrix<\/u>,\u00a0meanwhile, was named a \u201cstrong performer\u201d in The Forrester Wave: Contract Lifecycle Management For All Contracts, Q1 2021 report. ELM Solutions\u2019 LegalVIEW\u00ae<\/u> portfolio of legal analytics solutions is based upon the industry\u2019s largest and most comprehensive legal spend database, with more than $140 billion in invoices.<\/p>\nAbout Wolters Kluwer Governance, Risk & Compliance <\/strong><\/h4>\n
See Campaign: <\/strong>https:\/\/www.wolterskluwer.com\/en\/solutions\/enterprise-legal-management<\/a>
Contact Information:<\/b>
Paul Lyon Global Corporate Communications Director Governance, Risk & Compliance Division Wolters Kluwer Office +44 20 3197 6586 Paul.Lyon@wolterskluwer.com Andrew Ferraro Corporate Communications Manager, Legal Solutions Governance, Risk & Compliance Division Wolters Kluwer Office +1 347 922 8809 Andrew.Ferraro@wolterskluwer.com <\/p>\n
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\nContact Information:<\/h3>\n
Global Corporate Communications Director
Governance, Risk & Compliance Division
Wolters Kluwer
Office +44 20 3197 6586
Paul.Lyon@wolterskluwer.com <\/p>\n
Corporate Communications Manager, Legal Solutions
Governance, Risk & Compliance Division
Wolters Kluwer
Office +1 347 922 8809
Andrew.Ferraro@wolterskluwer.com <\/p>\n<\/p>\n<\/div>\n