Global News
Wolters Kluwer Governance, Risk & Compliance (GRC) has appointed Raja Sengupta as Executive Vice President and General Manager of its award-winning ELM Solutions business, effective May 3, 2021.
A London-based spokesperson confirms that he replaces Jonah Paransky who is stepping down from the position after four years to pursue outside career interests. Sengupta previously led Wolters Kluwer GRC’s Lien Solutions business.
Wolters Kluwer ELM Solutions is a 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.”
Sengupta was named Executive Vice President and General Manager of Lien Solutions in late 2016. As the chief executive of the business, he has led a growing organization focused on providing lien search and filing services, which reported a record year for independent industry recognition in 2020. Before joining Lien Solutions, he was Executive Vice President and General Manager of CT Small Business, a Wolters Kluwer GRC legal solutions business providing compliance solutions to small and mid-sized businesses for business formations, business license, digital brand protection and other governance, risk and compliance issues.
Prior to Wolters Kluwer Sengupta served as General Manager of American Express Merchant Financing. According to a company statement he started his career as a management consultant in Mitchell Madison Group’s New York office. Subsequently, as global head of Banking & Financial Services Practices at Inductis LLC (now part of EXL Service), he played a critical role in the firm’s growth, “positioning it as a reputable player in big data analytics.”
“Wolters Kluwer ELM Solutions has a strong track record in delivering effective and innovative legal operations technology, including market leading legal analytics solutions. Our award-winning software materially supports customers and their efforts to achieve operational efficiencies and I am honored to be asked to lead a business with such a distinguished reputation,” Sengupta said. “I look forward to working with the talented team to ensure our customers continue to benefit from new technology advances as the legal services market evolves.”
“Corporate legal professionals are increasingly leveraging technology solutions and analytics to manage risk and drive operational efficiencies,” said Richard Flynn, CEO of Wolters Kluwer GRC. “Raja is a customer-focused leader who has combined data driven insights and advanced technology to create market-leading solutions for customers ranging from the largest global banks to start-up businesses. I am excited that he will now bring this approach and expertise to serve our corporate legal and insurance customers and their law firms”.
The announcement follows a busy 12 months for ELM Solutions. Late last year, for example, the company announced that the U.S. Patent and Trademark Office (USPTO) had granted the company patent #: 10,733,675 for the groundbreaking artificial intelligence (AI) technology behind LegalVIEW® BillAnalyzer.
The solution helps corporate legal departments and insurance claims organizations more efficiently manage their incoming legal invoices and improve cost management. The proprietary AI-powered bill review automated scoring system is able to provide a high degree of accuracy and efficiency in the overall bill review process compared to non AI-powered bill review processes. According to a spokesperson, “this unique design leads to high quality, accurate billing adjustments and cleaner billing over time. The patented AI technology leverages natural language processing and several model-based predictors to power a bill review system that delivers customers best-in-class results.”
ELM Solutions has also been busy sharing its valuable industry insights. As previously reported its latest research shows that last year produced the biggest shakeup in the outside legal services market since the Great Recession. An incredible 90 percent of corporate legal departments (CLDs) reduced their active provider relationships, and 16 percent of attorney-client relationships that existed in 2019 were paused in 2020, according to its LegalVIEW Insights report - the first of four quarterly reports in 2021 – analyzing emerging legal industry issues using data from its LegalVIEW Data warehouse.
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’s award-winning products include Passport®, the highest rated ELM solution in the latest Hyperion MarketView™ Legal Market Intelligence Report and TyMetrix® 360°, the industry’s leading SaaS-based e-billing and matter management solution. CLM Matrix, meanwhile, was named a “strong performer” in The Forrester Wave™: Contract Lifecycle Management For All Contracts, Q1 2021 report. ELM Solutions’ LegalVIEW® portfolio of legal analytics solutions is based upon the industry’s largest and most comprehensive legal spend database, with more than $140 billion in invoices.
Governance, Risk & Compliance is a division of Wolters Kluwer, which 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.” Wolters Kluwer 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 €4.6 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 19,000 people worldwide.
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