Houston, November 16, 2018 — Onit, Inc. a leading provider of enterprise legal management, contract management and business process automation solutions, today announced it ranked 264 on Deloitte’s Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America. Onit grew 327% percent during this period.
“Securing a placement on Deloitte’s Technology Fast 500 in 2018 is a real honor for Onit, as well as for me personally,” commented Onit CEO Eric M. Elfman. “This offers tangible confirmation that our challenge to the prevailing process management model has been working well. Our solution-based approach to legal operations management breaks up workflow processes into individual task-based solutions and processes and has been enthusiastically received by companies globally. I attribute Onit’s remarkable 327% revenue growth to that successful challenge and our never-ending quest for excellence in helping clients reach their goals of efficiency and productivity.”
Deloitte’s Technology Fast 500 provides a ranking of the fastest growing technology, media, telecommunications, life sciences and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2014 to 2017. These companies are innovators who have converted their disruptive ideas into products, services and experiences that can captivate new customers and drive remarkable growth.
“Software, which accounts for nearly two of every three companies on the list, continues to produce some of the most exciting technologies of the 21st century, including innovations in artificial intelligence, predictive analytics and robotics,” said Mohana Dissanayake, partner, Deloitte & Touche LLP, and industry leader for technology, media and telecommunications, within Deloitte’s audit and assurance practice. “This year’s ranking demonstrates what is likely a national phenomenon, where many companies from all parts of America are transforming the way we do business by combining breakthrough research and development, entrepreneurship and rapid growth.”
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least $50,000 USD, and current-year operating revenues of at least $5 million USD. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
Onit is a leading provider of Enterprise Legal Management (ELM) solutions for the 21st century. Brought to you by the same team that created Spend Management a generation ago, Onit is transforming the way legal departments drive operational and process improvements. By focusing on process, Onit’s solutions help customers drive tremendous gains in efficiency, accelerate transaction velocity and reduce costs. For more information, visit www.onit.com or contact 1-800-281-1330.