News Type: Press Release

About the Session

The ability to leverage data to demonstrate value and make better decisions is always important. In times like these, it is critical. Join us for a webinar to understand techniques that legal leaders can use to ensure money is being spent wisely, teams are as productive as possible and that risk is being adequately and proactively managed.

This session features Matthew Burdman, GLO Finance Manager, Colgate-Palmolive Company to discuss practical ways for the legal department to:

• Demonstrate the value of your legal department within your organization
• Demonstrate the value of your legal operations team to your CLO
• Understand if you are spending money wisely
• Support your department’s efforts to meet financial goals
• Show ROI for significant initiatives
• Use data to help manage risk

To register, fill out the form on this page.

Can’t make it? Fill out the form and you’ll receive a recording.

About the Session

Law departments worldwide have been racing to transform the way they work in order to adapt to the COVID-19 pandemic. Join us for a panel discussion of law department leaders moderated by Rees Morrison that will explore the challenges and opportunities posed by the sudden emergence of our new business operating environment. Our discussion will cover a broad range of issues and approaches for better managing people and processes in the work from home framework, including the impact on training and support, technology as well as the law department’s interaction with business units and outside counsel.

To register, fill out the form on this page.

Can’t make it? Fill out the form and you’ll receive a recording.

HOUSTON and MOUNTAIN VIEW, CA April 16 2020 – Onit, Inc., a leading provider of enterprise workflow solutions, and SimpleLegal, a modern legal operations platform offering e-billing, spend management, and matter management, today launched a suite of savings calculators to help customers and non-customers protect and justify technology spend amid the recent market uncertainty from the global crisis.

“The COVID-19 pandemic has changed the world around us, and we understand the urgent need to adapt to new circumstances quickly,” said Eric M. Elfman, CEO and co-founder, Onit. “This global crisis is challenging us all not only to develop survival skills and forcing creativity to regain normalcy in a world turned upside down–but it’s likely as well that many of your projects are under more scrutiny than ever before. We want to help project sponsors drive cost savings with your existing technology and strengthen a business case to automate more legal work given the unique business environment.”

Today’s current economic shift will mandate that legal and business teams adopt workflow, collaboration and process automation technology at a much faster pace so they can realize savings that have a direct financial impact on the company. According to a McKinsey report, 45% of current paid activities can be automated by today’s technology. The report also stated that when it comes to business processes, 60% of occupations could save 30% of their time with automation. Market research firm IDC says that organizations lose 20 to 30% of revenue every year due to inefficient processes. Forrester predicts that automation can cut operating costs up to 90 percent with business process automation.

Cost containment is a top priority and the potential of technology and its ability to support new models, processes, and paradigms will transform the ever-evolving business landscape. While enterprise legal management technology can realize 5 – 12% savings annually, contract lifecycle management technology is another area where companies can find savings of more than 9% annually, according to The International Association for Contract & Commercial Management (IACCM).

Complimentary Savings Calculator Analysis

As part of this program, Onit is offering a complimentary session with our subject matter experts, and if desired one of our trusted industry consulting partners to help business teams evaluate potential savings from existing and new technology investments. Simply visit us online and request a comprehensive analysis. You can also join us today at 11:00 a.m. CDT for a webinar and see a preview of these new savings calculators. Click here for details and to register.

Savings Calculators: Methodology

The savings calculators were built to help build a business case to support investing in Onit and SimpleLegal products and determine which cost-saving or revenue-generating projects to prioritize. They use a combination of industry best practice metrics and data as well as deep knowledge from various experts and are validated by third-party consultants. The savings calculators designed include Workflow Automation (Apptitude), Contract Lifecycle Management and Enterprise Legal Management.

Workflow Automation Savings Calculator 

The Workflow Automation Savings Calculator analyzes the expected annual savings (based on saved time and revenue under better management) from automating an existing manual or semi-manual workflow using Onit’s workflow platform, Apptitude. Understanding that every workflow is different, this tool was built to calculate annual savings for one discrete workflow process at a time. This allows the user to tailor their inputted estimates for different aspects of a workflow and then combine savings across multiple workflows for a more defined understanding of savings.

Contract Lifecycle Management Calculator

The Contract Lifecycle Management (CLM) Calculator was created using industry averages and adjusted based on the experience of various individuals familiar with Onit’s contract lifecycle software. The calculator quantifies potential benefits from using Onit CLM, including benefits from workflow efficiencies, minimizing missed renewals, increasing compliant contracts, increasing spend management, and strategic procurement. The calculator provides the ability to select strategies to implement, given that most users will not implement all the potential strategies in a given year.

Enterprise Legal Management Calculator

Onit’s Enterprise Legal Management (ELM) Calculator quantifies potential benefits from implementing Onit ELM software using a combination of industry averages and experience from industry veterans. Given that most companies are most likely not going to implement all potential ELM cost management strategies, users can select the strategies that they are interested in pursuing during a given year. The calculator takes into account a delay in benefits while the software is being implemented. At SimpleLegal and Onit, these implementation cycles tend to be short. The potential benefits included in the calculation are from rate and fee arrangement enforcement, reduced billing error fees, increased productivity, reduction in time spent on matter management, various matter and vendor strategies, and workflow efficiencies.  Customers are using Onit and SimpleLegal to track the entire value proposition of their law department and to cost justify further investment.

Lean into Legal Ops: Online Curriculum & Master Classes

The savings calculators are part of our Lean Into Legal Ops new online learning initiative and includes programming from Onit and SimpleLegal’s customer base, industry thought leaders and innovators in the space. The master classes cover topics such as how to use workflow tools to manage a distributed workforce, how to implement technology strategies that deliver immediate cost savings and ROI, how to quantify and defend the value in the legal department, process efficiency with a globally disparate workforce, and change management best practices in a challenging environment. To see a complete list of the upcoming programming, visit our online schedule. We will continuously update the content and send notifications to all subscribers.

About SimpleLegal

SimpleLegal provides a modern legal operations management platform that streamlines the way corporate legal departments manage their matters, track and interpret spend, and collaborate with vendors and law firms. SimpleLegal combines e-Billing and spend management, matter management, vendor management, and reporting and analytics into one comprehensive application to optimize legal operations and the management of the entire legal department. The company, founded in 2013, is privately held and located in Mountain View, California. For more information, visit www.simplelegal.com.

About Onit

Onit is a global leader of enterprise workflow solutions for legal, compliance, sales, IT, HR and finance departments. Our solutions transform best practices into smarter workflows, better processes and operational efficiencies. With a focus on enterprise legal management, matter management, spend management, contract management and legal holds, we operate globally and help transform the way Fortune 500 companies and billion-dollar legal departments bridge the gap between systems of record and systems of engagement. We help customers find gains in efficiency, reduce costs and automate transactions faster. For more information, visit onitprostg.wpengine.com or call 1-800-281-1330.

About the Session

Having a clear vision and plan for technology has never been more important. Join us to hear Curtis Batterton from McDonald’s Corporation discuss how his legal department went through the process of creating a legal technology roadmap to enable its strategic vision. He will also discuss how they are executing against this roadmap and how they are adapting their plan to the current economic and health crisis.

You’ll also see:

• The process McDonald’s used to define their technology roadmap
• Whether the COVID-19 crisis is causing any changes or additional hurdle
• How McDonald’s uses Onit and how it is helping during this time of remote work and increased need for visibility and cost savings

To register, fill out the form on this page.

Can’t make it? Fill out the form and you’ll receive a recording.

About the Session

Cost savings and operational efficiency have quickly taken center stage in today’s business and social climate. Join us to see a first-look demo of Onit’s new savings calculators, designed to help you estimate potential savings from implementing, or optimizing existing, Enterprise Legal Management (ELM) and Contract Lifecycle Management (CLM) software. We have also created a calculator to estimate what you can save with Onit’s Apptitude platform technology, which allows customers to rapidly deploy process automation that includes workflow, collaboration, transaction management and reporting.

You’ll also see:

• The benefits quantified in the Onit savings calculators
• A step-by-step sample use case for the Apptitude Automation Platform savings calculator
• How the calculators can help you justify, or keep, budget for software projects
• How implementing CLM or ELM technology could provide potential savings within the first year of implementation
• How we are working with our trusted partners to help you make the most of our savings calculators

To register, fill out the form on this page.

Can’t make it? Fill out the form and you’ll receive a recording.

About the Session

Join Onit and Pearson to hear about their award-winning approach to contract management. The session, “A Platform Approach to Contract Lifecycle Management” is part of our new Lean into LegalOps online learning initiative. Sengbusch will demonstrate Pearson’s contract lifecycle management system and show how they have realized savings, efficiency and unprecedented visibility with their contract portfolio and internal workload.

You’ll also learn:

• Why Pearson embarked on a contract lifecycle management project
• The visibility into contracts and internal legal workload they’ve achieved as a result
• Example reports that help Pearson drive efficiency in their process
• How users inside and outside the legal department experience the system
  rapid ROI?

To register, fill out the form on this page.

Can’t make it? Fill out the form and you’ll receive a recording.

HOUSTON, April 7 2020 – Onit, Inc., a leading provider of enterprise workflow solutions, including enterprise legal management, contract lifecycle management and business process automation, today announced it has been recognized as one of the most widely used workflow technology providers among corporate law departments as well as a leader in matter management customer satisfaction, according to the 2019 HBR Consulting (HBR) Law Department Survey.

Among workflow technology providers with legal domain expertise, Onit was recognized as the most widely used tool, representing 20% of responding law departments with an implemented workflow technology in the 2019 survey, up from 12% in 2018. Additionally, Onit was again among the highest ratings for customer satisfaction for workflow technology, with an average rating of 3.6 out 5, according to the 2019 survey.

In addition to its recognition in the workflow technology category, Onit also received the highest satisfaction rating among the top six most widely adopted matter management tools, with a rating of 3.8 out of 5.

“Being recognized in the HBR Consulting Law Department Survey with the highest satisfaction rating among matter management tools and highest customer satisfaction for workflow technology is a tremendous honor,” commented Eric M. Elfman, CEO and co-founder, Onit. “We strive to exceed our customer’s expectations and this survey further validates this commitment. A top priority in 2020 is ‘co-innovation’ with our customers and we are passionate about sharing this vision to ensure successful technology transformations in legal teams across the country.”

“The emergence of workflow technology in the corporate legal technology arena is helping to revolutionize the way legal services are delivered and managed in-house,” said Kevin Clem, HBR’s Chief Commercial Officer. “Onit continues to be a leading solution for workflow technology and received high marks for customer satisfaction in multiple technology areas.”

Now in its 16th year, HBR Consulting’s Law Department Survey continues to provide strategic insights and benchmarking data to U.S. and global law departments. In addition to assessing law department performance and trends, the survey also explores law department participants’ use of and satisfaction with various legal technologies. The participants, which represent more than 225 law departments, were asked to rate tools in the following categories: contract management, document management, e-Discovery, matter management, e-billing, legal spend analytics, workflow, and more.

“The HBR Law Department Survey offers robust data on technology trends through our newly released online survey portal, to help law departments navigate the vast legal technology landscape,” said Lauren Chung, managing director and HBR survey editor.

HBR has seen a steady rise in workflow technology adoption among corporate law departments participating in the survey; in 2019, 32% of responding law departments reported having implemented a workflow solution, up from 26% reported two years ago. Additionally, 20% of 2019 responding law departments indicated they were considering implementation of workflow technology within the next one to two years.

Details about the survey and more information about obtaining the full list of legal technology providers and access to the online Survey portal are available at http://www.hbrconsulting.com/law-department-survey/.

About the HBR Consulting Law Department Survey

HBR Consulting (www.hbrconsulting.com) delivers advisory, managed services and software solutions that increase productivity and profitability, while mitigating risk for law firms, law departments and corporations. As trusted advisors with deep industry experience, client’s partner with HBR to achieve significant, sustainable results.

The annual HBR Law Department Survey is the leading source of benchmarking data for corporate law departments, providing comprehensive data on legal spending, staffing, operations, technology, outside counsel management and compensation. The

Survey, now in its sixteenth year, continues to expand its focus on global legal function management, including data from over 225 participating companies representing over 15 industries. HBR’s 2020 Law Department Survey is now open for participation.

About Onit

Onit is a global leader of enterprise workflow solutions for legal, compliance, sales, IT, HR and finance departments. Our solutions transform best practices into smarter workflows, better processes and operational efficiencies. With a focus on enterprise legal management, matter management, spend management, contract management and legal holds, we operate globally and help transform the way Fortune 500 companies and billion-dollar legal departments bridge the gap between systems of record and systems of engagement. We help customers find gains in efficiency, reduce costs and automate transactions faster. For more information, visit onitprostg.wpengine.com or call 1-800-281-1330.

About the Session

Join Onit and Pearson to hear about their award-winning approach to contract management. The session, “A Platform Approach to Contract Lifecycle Management” is part of our new Lean into LegalOps online learning initiative. Sengbusch will demonstrate Pearson’s contract lifecycle management system and show how they have realized savings, efficiency and unprecedented visibility with their contract portfolio and internal workload.

You’ll also learn:

• Why Pearson embarked on a contract lifecycle management project
• The visibility into contracts and internal legal workload they’ve achieved as a result
• Example reports that help Pearson drive efficiency in their process
• How users inside and outside the legal department experience the system
  rapid ROI?

To register, fill out the form on this page.

Can’t make it? Fill out the form and you’ll receive a recording.

About the Session

Join us for the second live webinar in our Lean Into LegalOps virtual program. Our first webinar covered Onit resources being rapidly developed and made available to help companies around the world respond to business changes driven by the COVID-19 crisis. Following on that, this second webinar will highlight practical ways for legal departments to create meaningful cost savings to strengthen and sustain their companies through these times.

Register to hear discussion about critical questions like:

• If your legal department had to quickly find 10% savings, where could it come from?
• What process improvements can be made quickly to generate not just efficiency but also savings?
• How can you optimize existing technology or quickly implement new tools to drive savings and achieve rapid ROI?

To register, fill out the form on this page.

Can’t make it? Fill out the form and you’ll receive a recording.