Compliance

The Top 7 Enterprise Legal Management (ELM) Software

Explore the top Enterprise Legal Management (ELM) Software known for its legal matter tracking, contract management, and compliance features designed to streamline legal operations within organizations.

The Top 7 Enterprise Legal Management Software Solutions are:
  • 1. Brightflag
  • 2. LawVu Legal Workspace
  • 3. Legal Files
  • 4. OnitX
  • 5. TeamConnect by Mitratech
  • 6. Thomson Reuters Legal Tracker
  • 7. Wolters Kluwer Passport

Enterprise Legal Management (ELM) software streamlines and automate labor-intensive legal procedures, enabling legal departments to effectively juggle a myriad of tasks. These cloud-based, end-to-end solutions offer a unified platform for managing all aspects of the legal department functions, including matters management, e-Billing, contract management, governance, risk and compliance, legal project management, knowledge management, data analytics, and reporting.

ELM solutions also tend to integrate with other applications such as Enterprise Resource Planning (ERP) software, and Customer Relationship Management (CRM) systems, among others. These integrations facilitate communication between legal departments and other departments in an organization, boosting efficiency, improving collaboration, and saving valuable time.

From a user’s perspective, an ELM system will assist you in managing your daily responsibilities from a single platform. You can easily monitor cases, track billable hours, manage contracts, comply with relevant regulations, and evaluate performance through comprehensive reporting. The consistency, security, and centralized nature of ELM solutions simplify task management, ensuring you can handle your workload effectively, without missing a deadline or overlooking a critical task.

There are a range of ELM solutions on the market today, each offering a unique set of features and functionalities. Some platforms offer a broad suite of tools, while others focus on specific functionalities like contract management or e-Billing. With so many options, the selection process can be overwhelming, but our guide aims to make it simpler. We have narrowed down the top 7 enterprise legal management software solutions, allowing you to find the right tool for your use-case.

Brightflag Logo

Brightflag is a software company that provides a user-friendly, AI-powered solution for legal billing and matter management. In addition to facilitating smoother management of legal spending, this software significantly improves working relationships between legal and finance departments within organizations.

Brightflag’s innovative system utilizes AI to conduct the repetitive tasks necessary for legal billing, encompassing a variety of activities including checking narrative lines and fee models. This automated approach to invoice review processing not only enhancing accuracy, but also allows legal teams to direct their attention to more critical and value-adding tasks. By summarizing the tasks performed by different timekeepers, the software offers an effortless understanding of invoices within minutes.

The software ensures consistently rigorous invoice review, resulting in significant cost savings. It enables easy correction of billing guideline violations and provides a granular level of control where judgement is needed.

Brightflag is compatible with a wide range of invoice formats, eliminating the need for manual data entry. It supports automatic invoice approval and rejection, cutting down a large chunk of the administrative workload.

Brightflag goes beyond billing to offer handy features such as automatic accrual reminders for vendors, easy review and approval for accruals, and automatic sending of accruals to the finance department. It also includes an out-of-the-box report that facilitates comparison of prior accruals to actual bill amounts. Brightflag’s features are compliant with the Sarbanes-Oxley Act (SOX). It also offers a centralized interface for budgeting, allowing for both top-down and bottom-up budgeting strategies.

Brightflag Logo
Onit Logo

OnitX is a provider of Enterprise Legal Management (ELM) software, designed to help legal operations streamline their workflows and improve process efficiency. By controlling all aspects of matter management, from the management of matters, vendors, billing, and expenditure, OnitX provides comprehensive analytics and insights. This boosts decision-making capabilities and optimizes operational efficiency.

The platform offers end-to-end operational control, from matter management to vendor management and e-billing. It also includes a highly configurable system of engagement that facilitates collaboration and provides clear workflow structure. By creating a ‘single source of truth’ for all matters, projects, and transactions, OnitX helps minimize risk and drive better business outcomes.

With OnitX’s legal management software, organizations can create unique management workflows, evaluate performance, explore trends, and generate insightful reports through dashboard views. It also provides external and internal savings by capturing the work of the whole team and providing a platform for managing, analyzing, and benchmarking outside legal spend. Additionally, it offers a simple-to-use legal practice management software for internal teams, improving their work management and communication.

OnitX’s product is designed to address a variety of legal department needs such as legal service requests, legal holds, compliance and risk workflows, contract lifecycle management, and NDAs. Built on a robust, low-code workflow engine, OnitX offers a highly flexible and easily adaptable solution that can integrate seamlessly into existing or bespoke workflows.

Onit Logo
Mitratech Logo

Mitratech’s TeamConnect is an Enterprise Legal Management (ELM) platform that caters to the specific needs of a company’s legal department. This scalable solution encompasses processes and information from across the entire organization. TeamConnect provides a comprehensive set of functionalities, including matter management, e-Billing, legal spend management, document management, and process automation.

TeamConnect champions collaboration and innovation, helping businesses navigate the complexities of modern legal demands by providing a reliable and secure source of information. By leveraging Mitratech’s AI technology – InvoiceIQ, TeamConnect aids in reducing invoice review costs and time.

The platform also offers litigation management capabilities, allowing more than 14,000 firms to effectively manage outside counsel, budgets, and rates. In line with this, TeamConnect facilitates efficient contract management by centralizing contract information and automating approval processes and reminders.

Adding to its features is compliance management which aids in handling incidents and investigations, regulatory reporting, and compliance enforcement. Also, it improves invoice data accuracy by up to 70% through machine learning.

TeamConnect leads to efficiency and cost savings, with proven ROIs driving yearly savings of 10-20% by streamlining processes, automating reviews, and identifying and mitigating risks proactively. Overall, Mitratech’s TeamConnect represents a holistic suite of legal technology solutions, aiding businesses at every step of their legal operations journey.

Mitratech Logo
Wolters Kluwer Logo

Wolters Kluwer’s Passport is designed to aid in the management of legal spend, matter and insurance claims in an enterprise setting. By connecting all areas of your legal operations, Passport aims to streamline workflows and offer transparency to all matters vital to your business.

Passport applications have been developed to manage legal and risk-related data throughout your enterprise. These individual applications can function independently or be integrated for a comprehensive solution. Passport operates on a secure, collaborative framework, allowing for user-friendly connection of different systems and processes. This integrated platform offers visibility into legal spend via dashboards and reports, supports strategic decision-making to enhance matter outcomes, enforces business process automation and compliance, and supports collaboration with legal service providers.

With a focus on driving down the total cost of ownership (TCO), Passport includes a rules engine for task assignments and compliant reminders. Its reporting capabilities offer business intelligence across all areas of legal operations. Its Passport Office Companion function allows users to manage matters within commonly-used Microsoft programs, promoting efficient document collaboration.

Passport offers pre-packaged integrations with other notable enterprise applications, making it versatile and highly configurable. Features like the Passport Collaboration Portal and Collaboration Module facilitate budget, rate, accrual, matter, and document management. It also supports e-billing on a global scale, complying with intricate tax and regulatory requirements.

Wolters Kluwer Logo
The Top 7 Enterprise Legal Management (ELM) Software