News Type: Press Release

Award-winning product executive cements fast-growing company’s commitment to transforming legal departments into business drivers that materially influence growth and efficiency

HOUSTON, Aug. 02, 2022 (GLOBE NEWSWIRE) — Onit, the leading provider of enterprise workflow solutions including enterprise legal management (ELM) and contract lifecycle management (CLM), today announced that Burley Kawasaki has joined the company as Chief Product Officer. In this role, Kawasaki will lead Onit’s product strategy and innovation, including managing and executing the company’s vision for purpose-built, configurable solutions that evolve the legal department’s image beyond a back-office function and into business drivers that contribute to faster revenue generation and growth.

The addition of Kawasaki, an award-winning software product executive, comes at a critical time of evolution for the company’s product portfolio as it brings together the technology and solutions from several recent acquisitions — SecureDocs in December 2021, BusyLamp in September 2021, Bodhala in August 2021, AXDRAFT in December 2020, McCarthyFinch in November 2020 and SimpleLegal in May 2019. Kawasaki is the second strategic executive hire in as many months, following the announcement of Scott Wallingford as President of Enterprise Business in mid-June.

Onit’s dedication to technology that modernizes antiquated and inflexible legal workflows is fueled by the findings of the company’s recently released Enterprise Legal Reputation (ELR) Report, a multinational study spotlighting the material impact Legal can have on its businesses. The ELR Report revealed the legal department’s urgent need for modernization as 47% of legal professionals say their technology is insufficient and 46% admit it’s outdated. A key component of Kawasaki’s role is to lead and facilitate product teams to ensure they deliver high-value, automated and AI-driven ELM and CLM solutions to Onit customers. In doing so, Onit’s solutions will help legal departments directly impact operational efficiency and, ultimately, the speed of revenue generation for their businesses.

“Legal can evolve its role as business protector by dissipating the gap between archaic legal practices and modern digitalization to demonstrate a distinct impact on materiality and efficiency,” said Eric Elfman, CEO and co-founder of Onit. “With his wealth of experience in software product management and a track record of successful consultancy on product strategy for mid- to late-stage startups, Burley will undeniably elevate the sophistication and strength of Onit’s broadening product portfolio.”

“Onit is leading the charge for legal departments to become transformational agents in driving meaningful business results — including topline revenue, innovation, competitive differentiation, brand image, and corporate culture.” Kawasaki said. “Contributing to the metamorphosis of such a critical function with technology solutions purpose-built to extract new opportunities for material impact is invigorating. I am thrilled to join a company dedicated to building and delivering technology that supports and inspires the next generation of law.”

Kawasaki brings a deep history of leadership experience in product management, engineering, marketing and strategic alliances with a specific focus on low-code, cloud, application platforms and enterprise solutions. He comes to Onit as the founder of Tachyon Solutions, a CPO advisory and consulting services firm that focused on serving the product strategy needs of mid- to late-stage startups. Previously, Kawasaki held CPO positions at K2 Software and Kony, where he was responsible for product vision and strategy, product design, product management, software engineering and cloud operations. He also held product management leadership positions at Microsoft, Accenture, Avanade and Interlink. In 2020, Kawasaki was recognized as one of the Top 25 Software Product Executives of the year. He holds a Bachelor of Business Administration from Pacific Lutheran University.

Additional Resources
​​Read and subscribe to the Onit blog for the latest company and industry news. Join us on LinkedIn, follow us on Twitter or listen to our podcasts to hear the latest news on legal operations, artificial intelligence and best practices from corporate legal innovators.

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

Onit and its Family of Companies Secure Numerous Awards for Achievements in Innovation, Growth, Thought Leadership and Social Impact

HOUSTON, June 30, 2022 (GLOBE NEWSWIRE) — Onit, Inc., a leading provider of enterprise workflow solutions including contract lifecycle management and enterprise legal management, today announced a growing list of significant awards for Onit and its family of companies. The accolades follow Onit’s continued growth, fueled by significant accomplishments that include cutting-edge innovation, industry thought leadership and welcoming AXDRAFT, BusyLamp, Bodhala and SecureDocs into Onit.

“These awards are always exciting news for our customers and invigorating for all of us here at Onit as they validate that we are on the right track for making a positive impact on the industry,” said Eric M. Elfman, CEO and co-founder of Onit. “In just 18 months Onit made four acquisitions, boosted revenue growth and expanded our portfolio of AI-enabled software products as part of our commitment to product innovation. All these efforts were made to ensure we continue to help customers modernize workflows that directly impact the operational efficiency of legal departments and, ultimately, the speed of revenue generation.”

Onit’s top awards this year include:

• American Best in Business, Grand Globee winner: ABB’s highest award, reserved for only 10 companies annually. Onit was named Grand Globee winner for its innovation, expertise and rapid growth.
• Inc. Regionals, #53: One of the fastest-growing private companies in Arizona, New Mexico, Oklahoma and Texas.
  HBJ Vet-owned Business, #1: Houston’s best veteran-owned business.
• American Best in Business, Gold Award for Best Research/Survey Report: Onit was recognized for its Enterprise Legal Reputation (ELR) Report, which explores the relationship between corporate legal professionals and enterprise employees as a basis for materially influencing the business.
• Legalweek Leaders in Tech Law Lifetime Achievement, Eric Elfman.

SimpleLegal, an Onit subsidiary, won the following awards:

• CIO Review’s list of Top 30 Fastest Growing Tech Companies 2022.
• Anggie Ramirez Perea, Head of Client Support, was named Manager of the Year in Business Intelligence Group, 2022 Excellence in Customer Service Awards for her work in leading a customer-centric support organization.
• Shri Iyer, Vice President, Products & Design, was acknowledged by The Software Report as one of its Top 25 Product Executives.

AXDRAFT, an Onit subsidiary, received the following award:

• American Best in Business Gold for Best Product, Service and Solution.

To learn more about the Onit family of companies’ award wins, visit the Onit blog.

To learn more about Onit platforms and products, visit onitprostg.wpengine.com or schedule a demonstration at https://www.onit.com/schedule-a-demo/.

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

Seasoned global technology executive punctuates fast-growing company’s dedication to delivering solutions across all stages of legal transformation

HOUSTON, June 23, 2022 – Onit, the leading provider of enterprise workflow solutions including enterprise legal management (ELM) and contract lifecycle management (CLM), today announced that Scott Wallingford has joined the company as President of Enterprise Business. In this role, Wallingford will lead all aspects of Onit’s enterprise business, including establishing and executing the strategy for growing an expanding product portfolio dedicated to the company’s Fortune 500 client base.

The addition of Wallingford, a seasoned growth-oriented global technology executive with a proven track record of transforming software businesses through strong operational and inspirational leadership, punctuates a time of exponential growth for the company. In just three years, Onit acquired six companies in the AI, ELM, and CLM spaces — SecureDocs in December 2021, BusyLamp in September 2021, Bodhala in August 2021, AXDRAFT in December 2020, McCarthyFinch in November 2020 and SimpleLegal in May 2019. Onit plans on growing its employee base by 31% in 2022 to support the relentless innovation dedicated to broadening its product portfolio.

Onit’s acquisition strategy reflects the company’s dedication to helping its customers modernize workflows that directly impact the operational efficiency of legal departments and, ultimately, the speed of revenue generation. Rather than selling point solutions that only address a subset of challenges or massive quantities of features that typically go unused, Onit is focused on delivering right-sized solutions based on a company’s actual business needs.

“Legal operations is still rather nascent as a function, and Onit has a tremendous opportunity to elevate Legal’s relationship with its internal clients by equipping the legal department with technology purpose-built to make legal workflows more efficient across the enterprise,” said Eric Elfman, CEO and co-founder of Onit. “With his deep-seated knowledge of the legal tech industry and successful track record growing global legal software solutions, Scott will undoubtedly accelerate the growth of ELM and expansion of CLM in the enterprise market.”

“Onit has long established itself as the leader of the ELM enterprise market and now has a golden opportunity to expand CLM beyond the legal department,” Wallingford said. “Onit is an incredible team of passionate innovators genuinely focused on helping customers grow and improve their legal operations, regardless of how far along they currently are in the process. I am excited to join a company so deeply dedicated to their customers that it built its business model to ensure customer satisfaction and success.”

Wallingford has a deep history of delivering superior revenue growth, margin expansion and high customer satisfaction through product investments, acquisitions and strategic divestitures. He comes to Onit from Honeywell, where he established and led a global software and solutions organization that included sales, marketing, product management, engineering and operations. Previously, Scott led LexisNexis’ Legal Software Solutions business, which includes a global portfolio of five businesses — InterAction, CounselLink, Juris, Time Matters, and PC Law — targeting law firms and enterprise customer segments. He also held leadership positions at AT&T, Sabre Corporation, and Booz & Company. Scott holds an MBA in Finance from Duke University’s Fuqua School of Business and a Bachelor of Science in Electrical Engineering from Northwestern University.

Additional Resources

Read and subscribe to the Onit blog for the latest company and industry news. Join us on LinkedIn, follow us on Twitter or listen to our podcasts to hear the latest news on legal operations, artificial intelligence and best practices from innovators in corporate legal.

About Onit

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

The Enterprise Legal Reputation (ELR) Report also finds Legal can directly contribute to the growth of its businesses by increasing revenue and improving sales negotiations with greater automation — powered by the combination of AI and Contract Lifecycle Management (CLM)

HOUSTON, June 21, 2022 (GLOBE NEWSWIRE) — Onit, the leading provider of enterprise workflow solutions including enterprise legal management and contract lifecycle management, today released chapter two of its Enterprise Legal Reputation (ELR) Report, a multinational study spotlighting the image enterprise employees have of their legal departments, the way legal professionals see their interactions with internal clients, and the material impact Legal can have on its businesses — from revenue generation and operational efficiency to innovation and corporate culture.

In January, Onit commissioned Provoke Insights, a New York City-based market research firm, to conduct a study of 4,000 enterprise employees and 500 corporate legal professionals across the United States, United Kingdom, France and Germany. The study helps corporate legal departments understand their brand image through the eyes of their internal clients so they can improve working relationships, accelerate legal workflows and more effectively impact topline revenue and operational efficiency.

While chapter one of the ELR Report revealed that 65% of enterprise employees have knowingly bypassed legal policies on occasion, the findings in chapter two uncover the massive potential Legal has to shed its lingering perception as a back-office function and establish greater rapport throughout its businesses. The biggest opportunity to impact revenue generation relies on a strong link to Sales, as nearly seven in 10 (68%) legal respondents believe they help Sales effectively close deals and generate revenue.

Given the amount of time Legal spends on contracts — globally, 40% of legal professionals acknowledge spending four to five hours a day reviewing and managing contracts — nearly half (44%) believe improving the execution and efficiency of contracting will positively affect the speed of deal cycles and deal closure.

The legal department, for the most part, feels an urgent need for modernization with 47% of respondents saying their technology is insufficient and 46% admitting it’s outdated. Automated, AI-driven contract lifecycle management (CLM) is a major opportunity for legal departments to support the speed and growth of their business.

Despite the broad desire to streamline inefficiencies, the study finds various roadblocks preventing improvement. Nearly half (44%) of legal professionals admit their department is averse to change, 39% blame a lack of budget and 25% say they simply do not have time to learn new technology. Perhaps most surprising, and simultaneously concerning, two-thirds (67%) feel executives are unsupportive of Legal’s modernization, even if it means providing better client service and customer experience.

“As the ELR Report reveals, Legal has the golden opportunity to improve operational and cost efficiency while also influencing faster revenue generation and business growth,” said Brad Rogers, Onit’s senior vice president of strategy & growth and a previous leader of transformation in a large global law department and at other enterprise companies. “Legal can connect more deeply and materially across an enterprise organization, making its role as a protector of the business even more meaningful. Simply put, Legal can be a transformational agent in creating both productive and impactful corporate cultures while simultaneously driving business results.”

Other key findings that magnify Legal’s opportunity to positively influence functions across the enterprise include:

• More than three in five (61%) corporate legal professionals believe they positively impact their businesses’ abilities to innovate and differentiate competitively by supporting and protecting company patents and intellectual property (IP).
• Legal is taking a more active role in influencing corporate culture with 38% in the United Kingdom, 35% in Germany, 26% in France and 22% in the United States prioritizing diversity, equity and inclusion (DEI) for their departments.
• Half of legal respondents (52%) report their department and companies are prioritizing vendor diversity, a greater emphasis than the attention on diverse hiring initiatives (38%).

Read the ELR Report to learn more about how legal professionals view their relationships with internal clients in comparison to the image enterprise employees have of their legal departments.

Additional Resources

Read and subscribe to the Onit blog for the latest company and industry news. Join us on LinkedIn, follow us on Twitter or listen to our podcasts to hear the latest news on legal operations, artificial intelligence and best practices from innovators in corporate legal.

About Onit

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

New data integration solutions and collaboration tools move the industry forward in quest for a more connected enterprise

HOUSTON, May 10, 2022 – Onit, the leading provider of AI-based legal solutions for global enterprises, today announced a range of new product updates that bring corporate legal teams closer to their businesses, empowering them to be active partners to their internal clients through greater workflow automation, data analytics, AI and benchmarking.

The developments from Onit signal a deepening convergence of the fast-growing company’s broad portfolio of enterprise legal management (ELM) and contract lifecycle management (CLM) solutions. The following products from Onit and three of its recent acquisitions — Bodhala, AXDRAFT and ContractWorks from SecureDocs — will be demoed at the 2022 CLOC Global Institute in Las Vegas and spotlight how the company is delivering broader solutions to the market.

• Onit DaaS: Onit has added Data-as-a-Service (DaaS) to its award-winning Apptitude platform, enabling legal operations teams to co-pilot with critical business-leading communication and compliance. DaaS improves and promotes data accessibility by driving legal operations insights to Sales, Finance, Operations and other key functional departments across the enterprise. From homegrown data warehouses to reporting tools like Tableau and PowerBI, DaaS easily integrates data stored in Onit into corporate reporting systems and data lakes for holistic enterprise-wide reporting and analytics.
• ReviewAI Playbook Manager: Onit’s ReviewAI playbook manager enables corporate legal teams to easily organize and virtualize their contract expertise. With ReviewAI playbook manager, clients can create customized AI-enabled playbooks that ensure consistency across the organization when reviewing contracts, which minimizes risk, reduces frustration and saves time.
• Matter And Rate Benchmarking: Bodhala, a legal business intelligence provider acquired by Onit in August 2021, announced two proprietary solutions, brand new Matter Benchmarking and expanded Rate Benchmarking. Matter Benchmarking delivers unparalleled insights, including benchmarks for specific tasks and documents, helping legal teams streamline budgeting and matter staffing. Expanded to include named timekeeper benchmarks, Rate Benchmarking provides an accurate gauge against the market and internal panels, streamlining rate review and simplifying counsel selection.
• Collaborative Editor: AXDRAFT, a contract management and document automation software provider acquired by Onit in December 2020, announced Collaborative Editor. The tool streamlines contract negotiation and redlining processes by enabling multiple users to simultaneously edit a legal document.
• ContractWorks/AXDRAFT: AXDRAFT and ContractWorks are making it easy for growing legal teams to manage the entire contract lifecycle by automating critical processes and significantly reducing manual work. The integration of AXDRAFT’s powerful document generation and ContractWorks’ robust tracking and reporting combines drafting, approval, customized reporting, collaboration workflows and storage in one easy-to-use solution. ContractWorks is a contract management solution from SecureDocs, which was acquired by Onit in December 2021.

Onit’s dedication to more efficient, smooth and cost-effective legal workflows comes at a time when the relationship between legal departments and other enterprise functions is at a crossroads. Data from the 2022 Enterprise Legal Reputation Report reveals a fractured dynamic between legal departments and their internal clients, citing that a lack of speed and delayed responsiveness significantly impact the legal department’s ability to collaborate with others across the business. The report found eight in ten (79%) enterprise employees do not see Legal as a modern operation, stating that the reassessment of policies and technology — specifically workflow automation and artificial intelligence (AI) — is needed for legal processes to be more efficient.

“Our mission at Onit is simple: Provide corporate legal departments with technology that empowers them to automate all legal workflows and be an active business partner across the enterprise,” said Eric Elfman, Onit’s CEO. “It’s time for legal operations to build stronger alliances with its internal clients. The acquisitions of SimpleLegal, AXDRAFT, BusyLamp, Bodhala and SecureDocs make that mission possible. We are committed to bringing these technologies together to provide our customers with the most comprehensive and sophisticated solutions for ELM and CLM.”

Onit is proud to be a diamond sponsor of the 2022 CLOC Global Institute in Las Vegas on May 9–12. Paige Edwards, Director of Customer Experience, will be moderating a panel, Legal Ops and the Connected Enterprise, on May 11 at 10:30 am PDT. Visit us at Booth #209. Book a demo or arrange to meet the team at CLOC.

Additional Resources

Read and subscribe to the Onit blog for the latest company and industry news. Join us on LinkedIn, follow us on Twitter or listen to our podcasts to hear the latest news on legal operations, artificial intelligence and best practices from innovators in corporate legal.

About Onit

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

78% of enterprise employees view the legal department as protectors of the business, yet 65% knowingly bypass legal and their policies due to inefficiency and poor responsiveness

HOUSTON, May 09, 2022 — Onit, the leading provider of enterprise workflow solutions including enterprise legal management and contract lifecycle management, today released its Enterprise Legal Reputation (ELR) Report, a multinational study spotlighting the image enterprise employees have of their legal departments and the material effects their relationship has on their businesses — from revenue generation and operational efficiency to innovation and corporate culture.

In January, Onit commissioned Provoke Insights, a New York City-based market research firm, to conduct a study of 4,000 enterprise employees and 500 corporate legal professionals across the United States, United Kingdom, France and Germany. The study helps corporate legal teams understand their brand image through the eyes of their internal clients so they can improve working relationships, accelerate legal workflows and more effectively impact topline revenue and operational efficiency.

The ELR Report’s findings shed light on the urgency for improving today’s corporate legal environment, revealing a somewhat fractured dynamic between legal and its internal clients — particularly in public-facing, revenue-impacting functions like sales, marketing and procurement.

While the majority (78%) of enterprise employees view the legal department as protectors of the business, two in three (65%) admittedly avoid engaging Legal, bypassing its policies because of perceived bureaucracy, inefficiency, poor responsiveness and a belief that Legal doesn’t understand their specific business needs. However, those same enterprise employees acknowledge the legal department’s critical role in driving growth for the company — three of four (77%) believe Legal is great at negotiating on behalf of their companies and nearly half (48%) say Legal accelerates their sales cycles.

The ELR Report also revealed that only 19% of enterprise employees believe Legal considers client service a priority while eight in ten (79%) do not see Legal as a modern operation. These findings spotlight an enormous opportunity for legal departments to foster internal relationships by improving their responsiveness and operational efficiency, with respondents noting that the reassessment of policies and technology — specifically workflow automation and artificial intelligence (AI) — is needed for legal processes to be more efficient.

“The ELR Report reveals a glaring reality check on the full spectrum of how Legal is perceived by their enterprise organizations,” Onit CEO Eric Elfman said. “The findings beg obvious questions — how aware are corporate legal departments of their brand image, what is the material effect and how strong is their impetus to change? While the ELR Report sheds light on these concerns, it ultimately pinpoints opportunities for Legal to evolve their working relationships, accelerate critical workflows and become more active partners in business growth and efficiency. There is a desire right now for Legal to evolve in impactful ways — their businesses are counting on them.”

Other key findings further magnify the differing views of Legal across the enterprise:

The Legal team’s relationship varies by department — 62% of employees from HR and Finance report positive relations versus only 43% from Sales and 37% from both Marketing and Procurement.
In companies where teams are remote, two in five (38%) say Legal was more responsive prior to the Covid-19 pandemic.
60% believe Legal positively impacts their companies’ brands, but one in five (22%) say Legal is the “No Police.”

Read ELR Report Chapter 1 or check out the Chapter 1 summary.

Additional Resources
​​Read and subscribe to the Onit blog for the latest company and industry news. Join us on LinkedIn, follow us on Twitter or listen to our podcasts to hear the latest news on legal operations, artificial intelligence and best practices from corporate legal innovators.

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

HOUSTON, March 29, 2022 – Onit, Inc., a leading provider of enterprise workflow solutions – including enterprise legal management (ELM) and contract lifecycle management (CLM) – and Randstad Sourceright, a leading procurement managed services provider, today announced they are partnering to help clients create, negotiate and manage the services they procure via Statement of Work (SOW) based contracts.

“Our primary goal is to help clients draft better contracts upfront,” said Scott Brewer, Head of Delivery Excellence within Randstad Sourceright’s Global Services Procurement Practice. “Buying services differs from direct materials since there is an inherent ambiguity in how companies perceive and articulate the value they are paying for. How you structure a contract is therefore an essential ingredient in whether an SOW-based engagement will be judged as successful or not. With Onit’s CLM and AI platform Precedent, we’re introducing a sophisticated tool that will evaluate contract quality and spotlight items of risk.”

“Contracts represent a vital component of any business. Randstad Sourceright’s experts deeply understand what makes a good contract and how our technologies can add value to their clients’ processes,” Matt DenOuden, senior vice president of global sales for Onit, said. “We’re proud to partner with Randstad Sourceright and to help their clients along the pathway to best procurement practice.”

A Thorough Evaluation

Based on a deep scorecard for the ideal CLM solution, Randstad Sourceright undertook a rigorous evaluation of CLM solutions over 11 months.

“Onit ticked all the boxes due to its innovative technology, position and its quality of support,” Brewer said. “Their pre-trained, multi-faceted AI surpasses the traditional ‘find and retrieve’ capabilities of other solutions. It finds an item, analyzes where it is and how it’s phrased and provides an interpretation. As it reviews more contracts and learns more, it only becomes smarter and more efficient.”

Onit’s CLM software empowers teams across the enterprise with end-to-end automation of the entire contract management process. It modernizes the whole contract lifecycle management process through time-saving capabilities, such as contract generation, automated risk mitigation, self-service and a Microsoft Word integration that lets customers work in their typical applications.

Onit’s Precedent is an artificial intelligence platform that reads, writes and reasons like a lawyer. Its mission is to help business professionals get more work done faster during the pre-signature and post-signature phases, increasing the speed to finalize contracts and ensuring the management of obligations after the deal is closed.

Onit and CLM Momentum

This new partnership adds to Onit’s continued CLM momentum. In the short time since Onit launched CLM in 2019, IDC named it a major player, Fortune 500 companies have implemented it for worldwide contract management and awards programs have recognized its role in modernizing contract lifecycle management.

Learn More About the Partnership with This Podcast and at SIG’s 2022 Procurement Technology Summit

Brewer and DenOuden discuss contract management, Randstad Sourceright’s plans for CLM and AI and the impact of these technologies in the latest episode of the Onit podcast. You can also listen to the discussion on Apple, Google Podcasts and Spotify.

On April 5, 2022, Onit’s CLM director Charmel Rhyne and Brewer will discuss How Best-In-Class Organizations Use Integrated AI in Contract Lifecycle Management during SIG’s 2022 Technology Procurement Summit that will take place April 4-6 on Amelia Island, FL. For more information and to register to attend, visit https://events.sig.org/en/2022-procurement-technology-summit-4a3N4zjs92/overview.

Additional Resources

Read and subscribe to the Onit blog for the latest company and industry news. Join us on LinkedIn, follow us on Twitter or listen to our podcasts to hear the latest news on legal operations, artificial intelligence and best practices from innovators in corporate legal.

About Randstad Sourceright

Randstad Sourceright is a global talent solutions leader, driving the talent acquisition and human capital management strategies for the world’s most successful employers. We empower companies by leveraging a Human Forward strategy that balances the use of innovative technologies with expert insights, supporting both organizations and people in realizing their true potential.  As an operating company of Randstad N.V. — the world’s leading global provider of HR services with revenue of € 24.6 billion — Randstad Sourceright’s subject matter experts and thought leaders around the world continuously build and evolve our solutions across recruitment process outsourcing (RPO), managed services programs (MSP) and total talent solutions. For more information, visit www.randstadsourceright.com.

About Onit

Onit is a global leader of workflow and artificial intelligence platforms and solutions for legal, compliance, sales, IT, HR and finance departments. With Onit, companies can transform best practices into smarter workflows, better processes and operational efficiencies. With a focus on enterprise legal management, matter management, spend management, contract lifecycle management and legal holds, the company operates globally and helps transform the way Fortune 500 companies and billion-dollar corporate legal departments bridge the gap between systems of record and systems of engagement. Onit helps 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

Legal departments don’t operate in a silo, and the technology you use shouldn’t either. Most legal tech systems – whether ELM, CLM, AI or others – manage processes that involve business units outside of legal. It should be simple to include those stakeholders in critical workflows without complex integrations and to incorporate advanced technology like AI to enhance the way legal serves the business. When that openness and innovation happens, legal is more connected to the enterprise, risk is better managed, and costs are better understood. Hear from legal operations leaders about their vision for this connection and how they are implementing it in their organizations.

How to Attend

If you have an all-access badge to Legalweek, you do not need to register for this event.

Visit here to register for Legalweek.

HOUSTON, March 1, 2022 – Onit, Inc., a leading provider of enterprise workflow solutions including enterprise legal management and contract lifecycle management, today announced that its CEO and co-founder Eric M. Elfman has won the Lifetime Achievement Award in the 2022 Legalweek Leaders in Tech Law Awards program. The awards ceremony, scheduled for March 10 during Legalweek, acknowledges career achievement in the development and adoption of legal technologies and legal technology companies.

Eric M. Elfman, CEO and co-founder, Onit

Elfman started Onit more than 10 years ago with co-founders Smith, John Gilman, Onit’s vice president of products, and Jill Black, vice president of marketing for Onit. The company began with two employees and $25,000 in revenue. Under Elfman’s leadership as CEO, Onit secured a $200 million investment, acquired six companies and grew into a global business with more than 2,800 corporate legal customers and 600 employees. The company’s fast-paced, award-winning revenue growth has been acknowledged in the Deloitte Technology Fast 500, the Inc. 5000 and the Growjo 10K. Its product innovation has earned accolades from the BIG Innovation Awards and the Gold Globees.

Elfman, who has also won the EY Entrepreneur of the Year award for emerging technology and been named a Most Admired CEO by the Houston Business Journal, began his entrepreneurial career as a teenager selling skateboard parts. After serving in the Navy, he earned his MBA at Rice University and established three companies in the legal space – PeerPoint, Datacert and Onit. He helped envision and create industry standards in e-billing, including the Legal Electronic Data Exchange Standard (LEDES) and the Uniform Task Based Management System (UTBMS).

In addition to acknowledging Elfman, the awards ceremony will also celebrate Onit’s legal operations management subsidiary, SimpleLegal. The company’s AI-enabled invoice review technology, SimpleReview, is a finalist for the Legalweek Leaders in Tech Law Awards in the category of Legal Ops.

Connect with Onit at Legalweek

In addition to the awards ceremony, Legalweek attendees will have several opportunities to connect with Onit and its family of companies during the conference running March 8-11 in New York City’s Hilton Midtown.

Onit, SimpleLegal, ContractWorks, Bodhala, AXDRAFT and BusyLamp will exhibit on the third floor of the Hilton by the conference’s registration desks and provide demonstrations of their solutions. Visit here if you would like to reserve a demonstration time or join Onit for drinks or dinner.

Additional Resources

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About Onit     

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