HOUSTON – June 2, 2020 – Onit, Inc., a leading provider of enterprise workflow solutions including enterprise legal management, contract lifecycle management and business process automation, today announced it launched a new contract lifecycle management (CLM) Quick Start implementation package that allows companies of all sizes to streamline the entire contract process, reduce processing time and achieve higher contract compliance rates in less than 30 days. The new CLM Quick Start implementation package offers standard out-of-the-box functionality, quick time to value and a clear return on investment. This simplified implementation package gives business and legal teams immediate access to our award-winning contract lifecycle management technology, exposure to a robust workflow and automation platform and an upgrade path that can grow as they expand.
With the CLM Quick Start implementation package, companies receive all of the advanced functionality of Onit’s Contract Lifecycle Management product, but at a more cost-effective price point and faster implementation time frame. The CLM Quick Start implementation package includes one non-disclosure agreement (NDA) and one master services agreement (MSA) record type, limited custom fields, DocuSign or Adobe eSignature capabilities and an external contract request link.
“Launching our contract lifecycle management product last year allowed us to advance our software portfolio to meet the growing needs of the legal industry and beyond,” commented Eric M. Elfman, Onit CEO and co-founder. “As we continue to push through this global pandemic, we are committed to not only serving our Fortune 500 and enterprise-level customers but also addressing needs within the small to medium size businesses. We are passionate about finding ways to help businesses of all sizes the best way we can. First, we developed Business Continuity Apps released earlier this year and now we are making our enterprise-level software products more attainable for smaller businesses as well. This will allow companies of all sizes to receive the same business benefits as the major corporations in terms of maximizing efficiencies, reducing costs, and mitigating risks as it pertains to their contracting processes.”
As the world continues to adapt to the COVID-19 pandemic, we are seeing more organizations make the immediate push for digital transformation. The focus has become centered around maximizing efficiencies while keeping costs at a minimum with even smaller to medium size companies turning to technology to accomplish this goal. According to Market and Markets, Contract Management Software Market Global Forecast to 2024, small and medium-size businesses with less than 1,000 employees are going to have the highest annual growth rate for contract lifecycle management software implementations over the next four years.
The Onit Advantage: Onit Contract Lifecycle Management
Onit saw a need for businesses of all sizes and decided to take a proactive approach and make its Onit Contract Lifecycle Management product even more attainable. Onit CLM is now offered with a standard starter package that can be deployed in 30 days or less at an even more cost-effective price point. Companies are still receiving the industry’s leading cloud-based contracts repository with automated functionality that supports all phases of the contract lifecycle from capture and creation, through negotiations and approvals, to execution and post-execution management. With this new Onit CLM Quick Start implementation package, companies of all sizes can take advantage of the enterprise-grade contract lifecycle management software now with the industry’s fastest time to value.
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 www.onit.com or call 1-800-281-1330.