LegalCollaborator also introduced new reverse auction capabilities.
Wolters Kluwer has introduced new GenAI-enabled summarization functionality to LegalCollaborator, its legal engagement and competitive bidding solution. Summarizations will help corporate legal departments assess how law firm proposals align with objectives in the Requests for Proposal.
Also, LegalCollaborator’s new GenAI functionality highlights key differentiators such as experience and certifications across bidders to help corporate legal departments drive successful outcomes.
“Corporate legal departments are under the spotlight to improve efficiency while forging stronger, more impactful relationships with their law firm partners,” said Raja Sengupta, Executive Vice President and General Manager of Wolters Kluwer ELM Solutions. “The new functionality announced today for LegalCollaborator empowers corporate legal departments to benefit from enhanced transparency into law firm strategy and strategically manage expenses from the earliest days of engagement with their law firm partners.”
Additionally, LegalCollaborator has unveiled new reverse auction functionality that allows law firms to compete with one another in a time-bound auction. Firms offering either the lowest possible bid or the most favorable terms become frontrunners to win the business.
About Wolters Kluwer
Wolters Kluwer (EURONEXT: WKL) is a global leader in information, software solutions and services for professionals in healthcare; tax and accounting; financial and corporate compliance; legal and regulatory; corporate performance and ESG. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with technology and services.
Wolters Kluwer reported 2023 annual revenues of €5.6 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 21,400 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands.
For more information, visit www.wolterskluwer.com, follow us on LinkedIn, Facebook, YouTube and Instagram.
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