The need for more efficient operations is a priority for most organizations, whether that’s because your organization is growing, you’re facing uncertain economic situations, or adapting to remote work environments. Enterprise Legal Management (ELM) software streamlines operations, making day-to-day tasks more efficient and providing tangible results that can be measured in dollars saved and improved cash flow.
But not all software solutions are created equally, and it’s not always easy to know which solution is best for your firm. Hyperion Research helps those in the legal industry by reviewing software solutions.
The Legal Industry Counts on Hyperion Industry Knowledge and Expertise
Hyperion Research is the industry’s leading source for legal solutions’ market intelligence, working with solution providers, including software vendors, professional service groups, and consultants to better understand the latest market trends and the needs of their customers.
Hyperion evaluates legal solution providers and products through a select group of industry experts and thought leaders, including attorneys, paralegals, management consultants, and technologists. The legal profession’s leaders, innovators, and trendsetters have come to rely on Hyperion Research as the premier provider of independent market research, analysis, and advisory services.
LexisNexis CounselLink Is Recognized as Leading ELM Solution
For the fifth consecutive year, LexisNexis® CounselLink® was recognized in the Hyperion MarketView™ Report as a Leading Enterprise Legal Management (ELM) Solution. MarketView™ reports provide analysis of the legal solution market in key segments, including solution definitions, solution provider landscape, market sizing, and adoption scenarios. According to Hyperion, CounselLink deserved special recognition for the following capabilities:
|Market Leader: Invoice Compliance Automation
CounselLink reduces effort to ensure 100% compliance and automates the process with its sophisticated SmartReview invoice review tool that delivers actionable intelligence going far beyond task coding.
|Market Leader: Platform Maturity
LexisNexis was one of the first vendors to embrace SaaS for ELM and leverages the platform’s capabilities to its fullest, maximizing value for firms with ever-evolving tools, capabilities, and partnerships.
|Highly Innovative: Performance Metrics
Value-driven matter scorecards built within CounselLink improve portfolio awareness and integrate into everyday processes to support informed decision-making.
|Highly Innovative: Law Firm Payments
CounselLink FastTrack invoice payment service enables law firms to improve cash flow while simplifying and streamlining payables processes.
Top-Rated CounselLink Categories based on Hyperion VendorView Criteria
When reviewing CounselLink for the MarketView report, Hyperion uses their own VendorView™ methodology, which is based on the company’s proprietary structured Vendor Evaluation Matrix.
|VendorView Evaluation||LexisNexis CounselLink Recognition||Score|
|Product Features||Comprehensive e-billing and work management platform; SmartReview automation; FastTrack; automated matter templates||8|
|Product Usability||Customizable, easy-to-navigate interface; enhanced Outlook® integration; third-party invoice approval and legal request capabilities||8|
|CounselLink Technology||Secure, stable, efficient Microsoft SQL server infrastructure; high certification and integration standards; robust AI engine (SmartReview)||8|
|Implementation||Expedited implementation timelines and well-defined implementation methodology; SaaS-based solution; highly regarded strategic consulting team and tailored user training plan||8|
“Long known for its breadth of e-billing and spend management expertise, LexisNexis’ evolution towards a more holistic, work management approach is visible throughout CounselLink. With a feature set that addresses the needs of legal, the business, and vendors, CounselLink is well positioned to drive the qualitative improvements today’s legal teams need to achieve operational maturity. Additionally, with extensive configuration and integration capabilities, a strong consulting group, and a robust educational program, LexisNexis and CounselLink are well positioned to address legal departments’ most sophisticated requirements.”
—Hyperion 2021 Marketview Report
To read the full review of CounselLink, download the VendorView evaluation. The full MarketView report is available for download on the Hyperion Research website.
Aaron Pierce is the Vice President and General Manager of the CounselLink business. With over 20 years of technology leadership experience, and over 10 years in the legal software space, Aaron is passionate about helping legal professionals achieve greater outcomes through data-driven decisions. This role is Aaron’s second with the CounselLink business, having led the account management team from 2008 — 2011. Prior to re-joining CounselLink in 2016, Aaron worked in several strategy and product management roles within LexisNexis, including eDiscovery and insurance. Prior to LexisNexis, Aaron spent 12 years guiding an Internet technology company in California from start-up to maturity.