CounselLink Strengths and Capabilities Help Earn LexisNexis Recognition as a Leader for Enterprise Matter Management and Enterprise Legal Spend Management

by | Sep 15, 2020

We are excited to recently have been named a Leader for Enterprise Matter Management and Enterprise Legal Spend Management by the IDC® MarketScape reports for CounselLink’s strengths in capabilities and strategy. Receiving any kind of industry recognition is an honor, and these reports are especially meaningful to us because they draw substantially from customer feedback.

The IDC MarketScape reports are based on quantitative and qualitative assessments of vendor offerings in the marketplace, which means these reports include comparative, tangible data to show why LexisNexis was named a Leader. They also identify the factors expected to be the most influential to an organization’s future short-term and long-term success in the market.

In today’s economic climate, we understand organizations are increasingly focused on improving their management of internal resources and spend with outside vendors. Legal departments can be an indispensable partner, especially when armed with the right ELM software. This is why we have continued to expand and develop CounselLink’s comprehensive work, financial, and vendor management solutions—to help legal departments more easily and effectively control costs, maximize productivity, and make data-driven decisions. The IDC MarketScape reports help confirm that our expanded CounselLink solutions support customers in the ways they need most.  

“Enterprise legal management is the cornerstone of the legal department and is increasingly becoming the most important application in the legal stack. End users require easy-to-use, integrated and collaborative software that manages matters and spend. LexisNexis’ customers clearly indicated that the CounselLink product does those things and more, allowing them to successfully navigate the digitally transformed world.”
—Ryan O’Leary | Senior Analyst | IDC
IDC MarketScape Report Snapshot

LexisNexis was named a leader in Enterprise Matter Management with strengths in:

  • Ease of use
  • Essential capabilities

LexisNexis was named a Leader in Enterprise Legal Spend Management with strengths in:

  • Predictive analytics
  • Ease of use
  • Time to payment

Key Competitive Advantage

We have to admit that we weren’t too surprised when the IDC MarketScape reports identified LexisNexis® CounselLink® FastTrack as a key competitive advantage. CounselLink FastTrack is a payment solution that seems to accomplish the impossible by benefitting both legal departments and vendors. “A major differentiator for LexisNexis is its new FastTrack program that works with the financial services company LSQ to accelerate payments to law firms while allowing enterprises to hold onto their cash and pay LSQ later,” the report noted.

So, which features and functionalities made us a Leader in enterprise matter management and enterprise legal spend management? Download the IDC MarketScape report excerpts to find out more about CounselLink enterprise matter management and enterprise legal spend ratings, including the IDC MarketScape’s opinion, advice for technology buyers, and LexisNexis strengths.

IDC MarketScape: Worldwide Enterprise Legal Spend Management 2020 Vendor Assessment (doc #US45943920, July 2020) and IDC MarketScape: Worldwide Enterprise Matter Management 2020 Vendor Assessment (doc #US45943820, July 2020).

About IDC MarketScape

IDC MarketScape vendor analysis model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities, and strategies and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.

About CounselLink

CounselLink is a leading cloud-based software solution for Enterprise Legal Management (ELM), including work management, financial management, vendor management, and legal hold solutions designed to help corporate legal departments manage operations while providing analytics and benchmarking tools for better decision-making. Expert professional services and product support teams are available to help users maximize the benefits of their investment. CounselLink also offers tiered packages to address the unique requirements of both large and small legal departments. Discover more about CounselLink online: https://www.counsellink.com

Elizabeth Grotzke
Elizabeth Grotzke

Elizabeth Grotzke is the marketing manager for CounselLink at LexisNexis Legal & Professional. As an experienced marketer with 10 years working in enterprise software, she is dedicated to creating meaningful brand experiences. She holds a Bachelor’s degree in Marketing from the University of Rhode Island. Having grown up on the Cape, she is an avid beach goer and Cape Cod Potato Chip enthusiast.