HOUSTON – August 5, 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 named a leader in two IDC MarketScape Reports: IDC MarketScape: Worldwide Enterprise Legal Spend Management 2020 Vendor Assessment (Doc #US45943920, July 2020) and IDC MarketScape: Worldwide Enterprise Matter Management 2020 Vendor Assessment (Doc #US45943820, July 2020).
“We are honored to be named a leader in enterprise legal management and matter management solutions,” commented Eric M. Elfman, CEO and co-founder of Onit. “At Onit, we believe in better workflows. We create workflow-focused systems of engagement that empower collaboration, efficiency and meaningful business results for our customers worldwide. Combined with our flexibly and easily configurable Apptitude platform, corporate legal departments have an unlimited potential for legal operations transformation.”
Onit’s Enterprise Legal Management Solution allows in-house counsel and legal professionals to manage the entirety of legal department operations, from alternative fee arrangements to legal process outsourcing to legal service requests.
Onit’s Matter Management combines powerful collaboration and workflow capabilities to deliver a highly configurable product that can solve the unique needs of the most innovative legal departments.
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The naming as a leader in the IDC MarketScape reports follows a busy period for the company. In 2019, Onit received a $200 million investment from K1 Investment Management to accelerate global growth, announced the acquisition of SimpleLegal and had three-year annual recurring revenue growth of 640%. To date in 2020, the company has launched its new Contract Lifecycle Management Quick Start Implementation package and offered free COVID-19-related workflow solutions. It also kicked off its remote series of master classes for the U.S. and Europe titled Lean into Legal Ops. The program connects corporate counsel, legal operations professionals and industry innovators to share knowledge.
About IDC MarketScape
IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.
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.