Category: Business Process Management

Kickstart Your Enterprise Legal Management with 8 Crucial Features

“The best way to become essential for the companies that buy your products is to help them grow their business (i.e., to produce meaningful ROI) in unique ways. That is what solving customer problems is all about, and it’s as neat an encapsulation of the difference between enterprise and consumer software as we can offer.”
― Blair Reeves

When shopping around for an enterprise legal management solution, you need to ensure that the prospective system can be built around the way your teams work. After all, you’re trying to streamline your operations and avoid the old standards of relying on email and spreadsheets to get the job done. In today’s fast-paced legal settings, lawyers need to be able to work faster, smarter and more efficiently, and the best way to do it is by automating legal department processes.

Traditionally, enterprise legal management vendors have taken a database-centric approach in designing their solutions. However, and this cannot be over-emphasized, your competitive legal department needs a system of engagement – a system that supports the highly collaborative nature of your legal work. This in turn reinforces your business goals and ultimately, your bottom line.

There are quite a few benefits of a cutting-edge enterprise legal management solution, such as cost savings, flexibility, robust reporting capability, etc. But equally as important are the numerous crucial processes that enterprise legal management can help your team with. After all, you’re trying to find ways to improve your processes. At this point you’re probably wondering, “Okay, we know the basic stuff. What are the features we should be looking for?” We’re glad you asked, and here are eight of our favorite fundamental features:

  1. Highly configurable to your legal department’s needs, and seamless integration with systems such as accounts payable, document management, IP management and other back-end systems
  2. Comprehensive visibility into all invoices at every stage — including submission, review, and approval
  3. Reporting and dashboard views to analyze invoices, evaluate performance against budget, and see trends across your matter portfolio
  4. Workflow capabilities match your business requirements and are simple to change, alter or adjust. Different work types, such as matters related to employment, litigation, or mergers, can have their own unique workflows
  5. A single platform for collaboration that captures notes, documents, attachments and email communications in one secure location
  6. A complete audit trail of all matter activity
  7. The ability to keep track of all your authorized timekeepers and rates in one location. Adjustments can be made quickly and easily with a few clicks
  8. Industry standard security and bank-grade encryption ensures your data remains confidential

The very best enterprise legal management solution represents a new paradigm that is transforming the e-billing and matter management landscape and drastically improving delivery of legal services. Process-driven solutions integrate workflow and collaboration unlike other legacy providers. The best solutions allow you to dig in and define the legal business processes that are critical to your organization and deliver more bang for the buck; as well as your bottom line.

Onit, Colgate-Palmolive and Citigroup to Present at CLOC Institute

The annual Corporate Legal Operations Consortium (CLOC) Institute is just around the corner and Onit is thrilled to be taking part again. Held in sunny Las Vegas, this session is titled, “A Platform Power Play: Why Workflow is Critical.”

One of the key areas where law department operation professionals are seeking operational wins is by automating legal and business processes. Legal teams today are being asked to do more with less resources but they need software to augment this challenge. A powerful platform can not only meet their growing workflow and business needs but it can help with collaboration, transaction management (i.e. contracts, matters, invoices, etc.) and reporting capabilities. 

Learn why a platform approach is the right decision for today’s legal team. We will discuss how to drive change with process efficiencies to manage legal operations. The presentation will highlight the following: 

  • The rational of a platform versus point solutions
  • How automating workflows gives a better view of all on-going business transactions
  • Lessons learned from the selection and implementation process
  • Early results from gaining visibility into their legal operations

The goal of the CLOC Institute is to disseminate actionable steps that can be taken to drive specific changes — things many can get excited about, get involved in, and make happen, rather than just talking about a tipping point and “change.” With educational sessions provided by practicing industry leaders, the CLOC 2019 Institute offers unrivaled opportunities to stay on the cutting edge of today’s legal operations trends and technologies.

Learn more about the event.

The Lean, Transformative Legal Department: Tech is King

“I think one key part of doing more with less is to be more strategic, to realize what the objectives you’re truly trying to accomplish are and then to drive with greater focus towards those objectives.”
– Risa Lavizzo-Mourey

Doing more with less money and resources is not something most people want to hear from their bosses at the staff meeting. But it’s becoming more and more prevalent in the workplace, and legal departments share in the angst. “Lean legal” has been raising its ugly head for some time now, but it doesn’t need to be “ugly” at all. We invite you to read on and you’ll see what we mean.

Cost control and cost management have, and continue to be, one of legal’s biggest challenges. How have legal departments been handling this? Increasing the workload of existing resources, bringing on more in-house lawyers, and implementing more technology. Increasing the workload? Something else employees don’t want to hear. Hiring more in-house lawyers? That’s not really making things “leaner,” is it? That leaves technology. Let’s investigate this one a little more.

According to HBR Consulting’s 2018 Law Department Survey:

“Law departments also continue in their efforts to streamline operations, not only to control costs but also continue to increase efficiency. Legal technology continues to be a focus of many departments and plan implementation of next generation technologies to increase productivity. Law departments continue to be interested in data-related technologies, with 28 percent indicating they plan to implement artificial intelligence technology in the next one to two years, and 26 percent planning to implement legal spend analytics. These were topped, however, by contract management solutions, which 29 percent plan to implement in the next one to two years. These new legal technologies help automate manual workflows and create visibility into workload and spending, allowing organizations to improve operating efficiency and facilitate decision making.”

Topping the list of most implemented technology are e-billing and matter management, with legal holds and contract management following closely on their heels. Interestingly, the top two areas where customers are moving out of their existing systems are e-billing and matter management. This points to even greater demand for cutting-edge companies who provide the crème de la crème of technology solutions.

So if technology is so good at helping these legal departments, what were the barriers to using it in the first place? A lean budget is often cited as one of the major reasons. Resistance to change also places on the list. But one of the other major reasons is integrating new technology with existing systems. Nowadays, resistance to change is really the only thing that should be holding up progress – the other issues of budget and integration have changed considerably in favor of organizations seeking new technology. There are technology solutions out there for practically every budget. Stop dreading the words, “Do more with less.” We challenge you to thrive on it and explore the technology solutions out there that will help you do that.

 

Technology: Why Adapt to “Survive?” Adapt to Thrive!

“If you always do what you’ve always done, you’ll always get what you always got.”
― James P. Lewis

It’s one thing to “keep up” with the constantly changing battleground of the business world; in fact, it’s necessary. But we should be looking at that as only one element of the solution. Why not take it a step further and make our business flourish in this highly competitive environment?

Adopting the best business automation technology available is a cost-effective way to reach that goal. And cloud-based technology systems not only get the job done in the office, but keep you automatically ahead of the game because your provider is making sure the solution is always ahead of the game. But there’s one caveat to that last statement: you need to be very careful when you select solution providers – they’re not all created equally and some will quietly allow you to fall behind your competition. In many cases, clients aren’t even aware that it’s happening. With due diligence you’ll be able to select from a list of providers with proven track records.

A great way for companies to thrive is to look at software platforms that allow business users to drive efficiency and productivity. By combining business process management, project management, and information management into one easy to use tool the user can create their own solutions. With such a platform, it is easy to develop and deploy solutions that streamline business processes and solve real world problems which directly impact customer satisfaction, employee productivity and profitability.

Some key features to look for in a platform include:

Short Development and Deployment Time
The best platforms radically reduce “time to pilot” and “time to value.” Simple process pilots can be ready for implementation in hours and in production within days.

Flexibility
Business users require the flexibility to route, comment, revise and track progress of the project to accommodate the variability and unpredictability inherent in knowledge work.

Standard Intuitive Interface
Users love simple intuitive interfaces with standard features allowing the user to focus on the process instead of how the application works. This means that little or no training is required, thus dramatically reducing the time and cost of deployment.

A “Learn by Doing” Approach
The focus is on learning the optimal process through feedback from rapid deployment rather than a customized and expensive development of complex process maps and workflow design that anticipate every possible contingency that may or may not occur.

With the best platforms creating your own solutions couldn’t be simpler: once you identify a process that you’d like to automate, you use an intuitive interface to create a solution for the process. That’s it. Your organization can then streamline internal processes, gain greater visibility into transactions and improve operational efficiency. A flexible platform lets you easily bridge the organizational and geographic boundaries critical to your business. Thriving in this business environment has been made infinitely easier with the right technology at our fingertips.

The Long Road to Business Process Automation and Apptitude Part III: Incubators to Software

“I couldn’t tell you in any detail how my computer works. I use it with a layer of automation.”
– Conrad Wolfram

In part II of our series on, “The Long Road to Business Process Automation and Apptitude,” we pushed the history of process automation back to the eighth century B.C. We ended our discussion by describing how Jacquard’s famous automated loom and how automation, stored programming and data entry owe a debt of gratitude to the loom’s ability to change weave patterns by changing punched cards. Pushing forward in time we find more solid evidence of real automation which laid the groundwork for modern business process automation.

Amazingly, devices for automatically controlling the temperature in egg incubators were being used throughout the 17th and 18th centuries. Other thermostatic devices followed up through the 19th century, each with varying improvements over previous devices. The whole idea of automating processes was now in full swing, to the extent that contemporary technology allowed.

The steam engine not only helped propel the assembly line, but also takes a place in automation history. But most people don’t realize that there was one special part that set later steam engines apart from earlier models; the mechanical governor. In the 18th century an ingenious mechanical governor was invented to control the speed of the engine. Perhaps the most important automatic control device of the period, the idea for the steam engine governor came from a most unlikely source. A century before, the centrifugal governor was being used in grist mills to control the gap between the upper and lower millstones. When grinding grains, it was necessary to carefully monitor the gap in order to achieve consistency in the final ground product.

Automated telephone switchboards, automatic bottle-making machines and myriad other automated applications through the computer age have demonstrated the importance of automation in our lives. We’re now in the 21st century and computers conveniently run process automation of every form imaginable. We have software at our fingertips to automate every process that organizations throw at us, and then some. Process automation is optimizing organizational operations in several key areas. Workflow and automation of processes deserve a spot at the top of the list. Automating routine tasks can give businesses that extra “edge” they need by driving efficiencies and controlling costs – a tried and true recipe for success.

Onit Launches Enterprise Legal Management Customer Conversion Program

Excitement is in the air as Onit preps for Legaltech New York, but we also have another great news item. We just launched a customer conversion program that allows customers to easily and predictably transfer to the Onit legal e-billing and matter management platform. Tailored towards Fortune 500 legal teams using legacy enterprise legal management products, solutions or software, the program gives customers an alternative to their existing tool that is either being sunsetted or not supported in future versions of other vendor product roadmaps. Law departments nearing the end of their enterprise legal management contracts are also eligible to participate. Conversion program deliverables include a well-defined project scope, discounted pricing, a sample project plan (complete with a timeline estimate) and fixed budgetary estimates of both implementation and license fees.

For more details about the conversion program and to start a needs assessment, email [email protected].

Read the press release.

Doing More with Less: How Technology is Optimizing Legal Operations

Many folks in legal departments feel, and rightfully so, that the new paradigm is to do more with less money and fewer resources – otherwise known as lean legal. In the overall scheme of legal operations in achieving its objectives with “less,” technology has increasingly played a prominent role. Driving efficiencies and controlling costs in the legal department are being borne, to a significant degree, by well-chosen technology solutions, and legal operations managers who understand this and are taking action. The major school of thought currently is to run legal operations like a business – and to achieve that goal technology has been playing a key role.

Technology is optimizing legal operations in several key areas. Workflow and automation of processes deserve a spot at the top of the list. Automating routine tasks can shave hours off any busy schedule. Collaboration in 2019 via technology gives a whole new meaning to “work together,” and is forging the future of legal operations in ways we could never have imagined. Data analytics is increasingly important, as analytics can demonstrate the value of technology in the department. Looking at the CLOC Legal Operation’s 12 Core Competencies, the Mature Level is what legal departments should be striving for. Whether legal operations staff are familiar with the competencies or not, technology has been there (for those using it), quietly helping them to reach that magic level.

So if technology is so good at helping us in legal operations, what were the barriers to using it in the first place? A lean budget is often cited as one of the major reasons. Resistance to change also places on the list. But one of the other major reasons is integrating new technology with existing systems. Nowadays, resistance to change is really the only thing that should be holding up progress – the other issues of budget and integration have changed considerably in favor of organizations seeking new technology. There are technology solutions out there for practically every budget and integrations have never been easier. And for the “hard of hearing,” there is no longer a good reason not to be taking advantage of cutting-edge technology. Above all, doing more with less in the lean legal department has never been easier and affordable.

Listen to Onit’s New Podcast About K1 Investment Management’s Strategic $200 Million Investment in Onit

We’re excited to announce our latest podcast! In episode 6, Onit CEO Eric M. Elfman discusses K1 Investment Management’s strategic $200 million investment in Onit to accelerate global growth. Eric begins by explaining the reasons why the transaction is exciting for Onit, one of which is that it validates and recognizes the company for what it has accomplished in the last eight years. Another exciting part is that it provides the funding for Onit to execute to its full potential of becoming a market leader in not only enterprise legal management, but in contract management and business workflow.

Eric continues by explaining that K1 is not interested in breaking apart companies to make a profit, but rather to invest in high-growth companies like Onit by funding their continued growth. Eric emphasized that Onit’s goal remains to grow 50-100% per year over the next five years. He went on to explain that the deal will not really affect Onit’s leadership and its teams, since K1 invested in Onit for the way the organization is currently working – they don’t want to “undo” what has been working well. As far as whether Onit’s platform will change, the intent is to continue evolving its front-end and database and scalability of product has to grow. Pricing won’t increase due to the investment, but prices will continue following ordinary trends by increasing or decreasing accordingly.

Eric closes by explaining that K1 wasn’t the only investor that knocked on our door, and that Onit wasn’t actively seeking money at the time. But since he has known K1’s founding team for more than 20 years and really likes them and their investment concept, Eric decided the time was right to close a deal and selected K1 over another close competitor.

Listen to this podcast.

The Long Road to Business Process Automation and Apptitude Part II: More Early Predecessors

“Daedalus…had the power to construct statues endowed with motion and to compel gold to feel human sensations.”
– Callistratus, Descriptions, 4th century A.D.

In part one of this series we discussed some early attempts at automation, some more successful than others. Surprisingly, we can push the history of automation back even further to about 762 B.C. in ancient Greece. In Homer’s Illiad, he discusses the workshop of Hephaestus and the automatons that worked for him. These automatons were basically mechanical robots that served different purposes. For example, his tripodes khryseoi (golden tripods) were wheeled tripods that would wheel themselves in and out of the halls of the gods during the great feasts as they were needed. There were at least seven other named automatons used to carry out various tasks and missions. Although these automatons lived only in the realm of myth (as far as we know), the fact that automation was already being pondered in the 8th century BC is amazing in itself.

Pushing forward many centuries we find more solid evidence of real automation which laid the groundwork for modern business process automation and our process automation platform, Apptitude. In the 12th century AD, Ismail Al-Jazari created his famous Castle Clock. This clock was renowned in its day for its magnificence and accuracy in telling time, but its foreshadowing of automation is undeniable. Replicas of this clock can be found throughout the world today, including the United States. Through trial and error, Al-Jazari used gears, chains, wood, metal, a float chamber, flow regulator, and water to make the huge clock work. Every hour, doors would open automatically to reveal a figurine, and two gold falcon automata would drop balls into vases waiting below. Automata were a highlight of this wonder. Three times a day, five robotic, mechanical musicians would automatically perform musical pieces when activated by a water-driven camshaft. They would be activated by a system of pulleys, water trough and a water-powered “scoop” wheel. The clock also featured several displays, including the lunar and solar orbits and the zodiac. A crescent moon-shaped disc would move across the frieze indicating minutes.

Al-Jazari’s Castle Clock
Al-Jazari’s Castle Clock

In 1804 an inventor in France had developed several types of looms; including one with a treadle for power and another for weaving fishing nets. But Joseph Jacquard’s most famous invention was an automatic mechanical loom that used pasteboard cards with punched holes to control the process of weaving complex patterns. Prior to this invention, weaving intricate, figured designs was a slow and very laborious process. It required two operators: the skilled weaver and the draw boy to operate the loom. Jacquard felt there had to be a way to simplify the process for weaving complex patterns, and that a mechanism could be developed to make this happen. After much experimentation and trial and error, Jacquard succeeded in making the first programmable loom. Many hundreds or even thousands of these cards would be strung together, each card representing one row of the woven design. Jacquard’s invention was a landmark in computing history and not a fly-by-night fad by any means, since punched cards for computing were in use until the 1980s.


Jacquard’s Loom, showing coded punched cards

Onit would like to pay homage to these and all inventors whose ideas were guiding lights and blazed the path to the modern process automation. Every business process automation platform, including Apptitude, truly has a deep heritage going back many centuries.

Onit Secures $200 Million Strategic Investment from K1 Investment Management to Accelerate Global Growth

Onit is thrilled to announce that K1 Investment Management has made a $200 million strategic investment in our company. With the investment, Onit will scale operations to meet the increasing demand for innovative, market-leading process automation technology and enhance its back-end infrastructure to increase its scalable platform to meet continued growing client demand. Additionally, the investment will help fund go-to-market strategies, accelerate new product development and increase functionality of existing product offerings.

Onit’s CEO Eric M. Elfman is especially thrilled about this investment – “We are very excited to partner with K1 and their significant investment in our company further demonstrates the continued growth trajectory for Onit. We believe that we are clearly proving that our approach to streamlining business process – creating better workflows and not better databases – fundamentally sets us apart in the industry and is driving growth. We have the only end-to-end platform that solves workflow and process challenges across the enterprise. In fact, we have configured and deployed more than 200+ solutions and are instrumental in driving the transformation with some of the most innovative global companies in the world. As we scale to meet increasing demand, we are excited to also accelerate our investment in product development, resources and operations.”

Likewise, K1’s Managing Partner Neil Malik shares enthusiasm about this deal – “Onit’s platform has raised the bar on what users expect from software that extends beyond legal across the enterprise. We’ve seen the company more than triple its customer base and revenue in two years and we have tremendous confidence in the management team’s long–term vision. It’s exciting to partner with a team that pioneered the legal software space nearly 20 years ago and to now see how their innovative solutions are transforming the way Fortune 500 companies and legal departments operate.”

Onit’s client Anna-Lisa Corrales of Jaguar Land Rover North America offered her excitement on hearing the news – “We are on a legal transformation journey at Jaguar Land Rover toward greater efficiency and effectiveness, and the partnership between our law department and Onit has been instrumental in accelerating this process. We had to rethink the use of our internal and external resources and knew that we wanted to build partnerships with technology experts to help drive this revolution. We found that commitment from Onit and its management team. Rooted in an innovative system architecture that supports our needs for process automation, workflow and collaboration, Onit’s platform can enable best-in-class solutions for our growth today and in the future.”

Read the press release.