TechnoLawyer Features Onit’s Contract Management Suite in this Week’s Issue
Posted on July 29, 2016
Onit was featured in this week’s TechnoLawyer NewsWire (TL NewsWire), outlining our Contract Management Suite in an exclusive report. Onit’s solutions are growing in popularity and we are very excited for the write up.
Here’s some of our favorite quotes from the TL Newswire:
“Working in a legal department can feel like being in a bumper car as you're bombarded daily with requests to review new contracts and stay on top of leases, software licenses, and other agreements with important date-related terms. Manual systems comprised of email and spreadsheets can seem like chewing gum and bailing wire, inadequate to the task….
...Onit features a Contract Review & Approval portal through which managers and salespeople can submit contracts to the legal department. You can configure the intake form for each type of contract routinely submitted. Based on preset rules, Onit routes each submitted agreement to a designated lawyer for review. Designated lawyers receive an email notification, and also see the contract on their dashboard.
Each contract has a "Phased Workflow" feature to ensure compliance with your company's policies and to ensure a timely review. These workflows accommodate parallel or serial processes and conditional logic. For example, contracts involving more than $1M can require an extra approval from your general counsel. Lifecycle metrics can be added to track the number of days it takes to approve and finalize the contract.
Tools within the Phased Workflow environment enable you to communicate with the business team and attach markups and supporting materials. Onit also provides a unique email address for each contract so that any email you need to send automatically gets filed in that contract's workflow.”
Click here to read the rest of the article and learn more about other notable features and how Onit integrates with other tools. TL Newswire is one of the leading legal technology and practice management blogs in the industry. Learn more about receiving the TL Newswire and staying up-to-date on what’s new in legal tech.
Onit’s Contract Management Suite simplifies the submission, review, approval and management of contracts in one easy to use tool. Schedule a demo with us today to learn more about the benefits of implementing a transparent contract review and approval process.