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HOUSTON, August 23, 2021 – Onit, Inc., a leading provider of enterprise workflow and artificial intelligence platforms and solutions, including contract lifecycle management, enterprise legal management and business process automation, today announced it has won another listing on the 2021 Inc. 5000 list of America’s fastest-growing private companies. This year, Inc. placed Onit in the top 25% with a three-year revenue growth of 408%.

This honor follows Onit’s inclusion in the 2021 Inc. 5000 Regionals, where it ranked number 44 (up from number 70 in 2020) on the list for the Top 250 Fastest-Growing Private Companies in Texas. Onit landed on this prestigious list for the second year in a row, recording revenue growth of 273% over two years.

The award reflects the company’s continued aggressive growth. The Deloitte Fast 500, an annual ranking of the fastest-growing North American companies, ranked Onit at #190 on the list, with a three-year growth of 641% in 2020. The company also secured a top five spot on the 2021 Houston Business Journal’s Middle Market 50, with two-year revenue growth of 162.78%. This marks the second consecutive year that Onit has ranked in the top five on the list.

Companies on the 2021 Inc. 5000 are ranked according to percentage revenue growth from 2017 to 2020. The list represents a unique look at the most successful companies within the U.S. economy’s most dynamic segment, which added more than 610,000 jobs over the last three years. Not only have the companies on the 2021 Inc. 5000 been very competitive within their markets, but this year’s list also proved exceptionally resilient and flexible given 2020’s unprecedented challenges.

Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region and other criteria, can be found at www.inc.com/inc5000. The top 500 companies are featured in the September issue of Inc., which is available now on newsstands.

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.

HOUSTON, August 19, 2021 – Onit, Inc., a leading provider of enterprise workflow and artificial intelligence platforms and solutions, including contract lifecycle management, enterprise legal management and business process automation, today announced that it has launched a new solution called Automate NDA. Automate NDA is an easy-to-implement, best practice solution that uses AI to streamline and automate the entire non-disclosure agreement (NDA) process.

The solution combines Onit’s workflow and AI platforms, Apptitude and Precedent, to automate the drafting, review, negotiation, execution and management of NDAs at a competitive price point. All of this happens in an accessible, simplified legal portal that enables self-service where that is the approved workflow path.

“Corporate legal departments deal with anywhere between 500 and 10,000 nondisclosure agreements a year – putting a significant strain on contract professionals who are struggling with increasing amounts of work. With Automate NDA, we’re taking these high-volume, relatively low-risk contracts and reducing the time spent on them by 70%,” said Nick Whitehouse, General Manager of the Onit AI Center of Excellence.

The Challenges of NDAs

NDAs are the highest-volume contracts handled by businesses today. The average cost to draft, review, negotiate and file a single NDA is between $114 and $456¹ – an expensive and time-consuming endeavor without automation.

NDAs are often the most frequent touchpoints between the legal department and the broader organization but are regularly considered low-value work. This unfortunate dynamic serves as a great source of frustration and friction in organizations, with the legal department often finding itself in a lose-lose situation.

Automate NDA from Onit

Having been formed of best practices out of the box, Automate NDA requires minimal effort to implement and significantly speeds up the end-to-end NDA process. The powerful solution creates a single process for requesting NDAs and shows all pending and signed NDAs in a simple dashboard, allowing for much-needed visibility.

Additional features of Automate NDA include:

• Self-Service– Automate NDA can automatically generate an NDA and review third-party NDAs using your standard terms.
• Dynamic Workflows– Activities such as drafting, reviewing, approving, signing and managing obligations follow automated workflows, actioning, notifying and filing information on your behalf.
• Intake Portal – The out-of-the-box, self-service portal lets you capture additional requests and gives you powerful insights into other areas for automation.
• Record Management – All your NDAs and requests are logged and stored in an easy-to-search system.
• Dashboards and Reporting – Quickly see a snapshot of the status of all NDA requests. Reporting and metrics gathering are accessible within the Dashboard View.

Learn More about Automating NDAs

Hear more about Automate NDA from an expert and team member of the Onit AI Center of Excellence. In this podcast, Whitehouse, a former law firm chief digital officer, talks about what it does and how it works. You can also visit http://onit.com/products/automate-NDA for more information and to schedule a demonstration.

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.

¹ Based on 1-4 hours of work per each NDA and the average rate per hour for an in-house attorney of $114 according to the 2019 Association of Corporate Counsel Global Legal Benchmarking Report.

HOUSTON, July 28, 2021 – Onit, Inc., a leading provider of enterprise workflow and artificial intelligence platforms and solutions, including enterprise legal management, contract lifecycle management and business process automation, today announced that it has added new executive leadership for product management and human resources.

Mary Fuzat joins Onit as the Vice President of Product Management. With more than two decades of software leadership experience, her focus has been on customer-impacting leadership roles that include product management and integration, cross-functional team leadership and business process optimization. Before joining Onit, she held critical product roles for Insite360 (formerly FuelQuest, LLC) and Trelligence and drove the integration of disparate solutions across multiple companies and technology platforms. Additionally, she has successfully stood up and scaled 24/7 operations for new offerings and implemented Lean Startup methodologies for mature software product lines to double revenue growth.

In her short time with Onit, she has led the development and customer debut of the company’s AI-enabled invoice review for legal spend management – InvoiceAI. InvoiceAI has already identified an average of 6-11% of unactioned errors for customer invoices submitted in 2020.

David Gray brings more than 20 years of management and executive experience in human resources, with a solid background of progressive HR responsibility across Fortune 50, technology and financial services companies. As Onit’s Vice President of Global Human Resources, he turns a strategic vision to worldwide HR operations in areas such as staff development, performance management and employee morale. His background includes multiple leadership roles in human resources, including executive vice president of human resources at Envoy Mortgage and senior vice president of global human resources at Openlink Financial.

His addition to the executive team comes at a time of extreme growth for Onit. The company has more than 400 employees worldwide, with plans to hire an additional 100 in 2021.

“Mary and David possess the talent and proven track record to accelerate Onit’s achievements in two of our most crucial areas. Their extensive experience in their respective fields, coupled with their fine-tuned business acumen and leadership, will be key drivers in taking Onit’s growth to new, unprecedented levels,” said Eric M. Elfman, CEO and co-founder of Onit.

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.

HOUSTON, July 22, 2021 – Onit, Inc., a leading provider of enterprise workflow and artificial intelligence platforms and solutions, including enterprise legal management, contract lifecycle management and business process automation, today announced that the Houston Business Journal has included Onit co-founder and CEO Eric M. Elfman as an honoree for its Most Admired CEO Awards.

The awards recognize CEOs based on contributions to company success, civic involvement, career achievement and more. Hundreds of CEOs were nominated, yet the Houston Business Journal only selected 50 for this award.

Elfman, an entrepreneur who has founded four companies in the last 25 years, has led Onit for more than a decade. During that time, the company has grown from a startup with two employees and $25,000 in revenue to a global organization with 450+ employees and 10,550 Fortune 500 and law firm customers. Customers have created 5,500+ Apps on its Apptitude business process automation platform. The company’s rapid, award-winning revenue growth has been recognized in the Deloitte Technology Fast 500, the Inc. 5000, the Inc. Private Titans and the Growjo 10K.

The Most Admired CEO honor is significant after the challenges of 2020. Under Elfman’s leadership, the company protected employees’ jobs, continued to hire aggressively and closed acquisitions on legal AI provider McCarthyFinch and document generation and automation platform company AXDRAFT. The company has continued to launch innovative technology for its customers, introducing four AI-based offerings since November: its AI-based platform Precedent, ReviewAI and ExtractAI for contract management and InvoiceAI for legal billing review.

Elfman is a pioneer in the creation of the Legal Electronic Data Exchange Standard (LEDES), an authority on the Uniform Task Based Management System (UTBMS) and an Ernst & Young Entrepreneur of the Year winner.

“It is an incredible honor to be recognized by the Houston Business Journal, especially in the company of other esteemed CEOs that have led Houston companies to success,” said Elfman. “A leader cannot succeed without a talented and dedicated team, so I share credit for this award with Onit’s leadership and employees who have consistently propelled Onit forward to its goals no matter what the circumstances.”

Award honorees represent several of Houston’s prominent industries, with CEOs from technology, health care systems, law firms, real estate firms and arts organizations among other fields. The Houston Business Journal will celebrate the honorees in a special section of its August 20 weekly edition and at a virtual event on August 19.

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.

HOUSTON, July 20, 2021 – Onit, Inc., a leading provider of enterprise workflow and artificial intelligence platforms and solutions for corporate legal departments, today announced that Radiology Partners, the leader in radiology services and technology, is now using Onit’s enterprise legal management (ELM) and legal service request software. By leveraging Onit’s technology and working with Consilio, Radiology Partners went live in just three months.

Radiology Partners is the largest radiology practice in the U.S., serving more than 3,400 hospitals and other health care facilities across the nation. The collaboration was the vision of Radiology Partners’ Chief Legal Officer Joseph Schohl, who identified an opportunity to increase efficiency and insight for the corporate legal department.

“Onit and Consilio had our enterprise legal management and legal service request software live in 90 days, allowing us to quickly consolidate our legal information onto one system and create valuable operational efficiencies. This is the first step in our company’s vision for legal operations transformation as we explore opportunities to generate the same efficiencies through automation and AI for contract management,” said Schohl.

“The flexibility of Onit’s platform allowed for a quick deployment of the solutions Radiology Partners needed to better analyze legal spend, minimize company risk and drive process efficiency,” said Eric M. Elfman, CEO and co-founder of Onit. “We’re happy to have a new customer in Radiology Partners and to strengthen our partnership with Consilio.”

“As Radiology Partners was seeking to rapidly implement new technology and solutions to work more efficiently and collaboratively, we are pleased to have utilized our law department consulting services to successfully deploy Onit’s ELM solution and legal service request functionality,” stated Robin Snasdell, Consilio Managing Director. “It is a privilege to work with Joe Schohl and Radiology Partners to execute their vision; Onit and Consilio are aligned in our drive to seamlessly provide world-class service and solutions to streamline work and enhance our clients’ productivity.”

Consilio is an Elite-level partner in the Onit Strategic Alliances program.

The quick deployment resulted from a true partnership between Radiology Partners, Onit and Consilio. The Radiology Partners team had a deep knowledge of their business and the inner workings of their legacy systems, plus the support from the legal department’s leadership team. Onit provided flexible, future-proof technology, and Consilio applied its vast expertise in Onit’s platforms and solutions and understanding of best practices and requirements, thereby translating them into a comprehensive technical solution.

The implementation is the first phase of Radiology Partners’ digital transformation. The company is exploring the next step of transformation, including AI and contract management for nondisclosure agreements.

About Radiology Partners

Radiology Partners is the largest radiology practice in the U.S., serving more than 3,400 hospitals and other health care facilities across the nation. As a physician-led and physician-owned practice, our mission is to transform radiology by innovating across clinical value, technology, service and economics, while elevating the role of radiology and radiologists in health care. Using a proven health care services model, Radiology Partners provides consistent, high-quality care to patients, while delivering enhanced value to the hospitals, clinics, imaging centers and referring physicians we serve. Learn more at https://www.radpartners.com/ and connect with us at @Rad_Partners.

About Consilio

Consilio is a global leader in eDiscovery, document review, risk management and legal consulting services. Through its Consilio Complete suite of capabilities, the company supports multinational law firms and corporations using innovative software, cost-effective managed services and deep legal and regulatory industry expertise. Consilio has extensive experience in litigation, HSR second requests, internal and regulatory investigations, eDiscovery, document review, information governance, compliance risk assessments, cybersecurity, law department management, contracts management, legal analytics, paper discovery and digital printing, as well as legal recruiting and placement. Consilio employs leading professionals in the industry, applying defensible workflows with patented and industry-proven technology across all phases of the eDiscovery and risk management lifecycle. ISO 27001:2013 certified, the company operates offices, document review and data centers across Europe, Asia and North America. For more information, please visit us at www.consilio.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.

HOUSTON, July 15, 2021 – Onit, Inc., a leading provider of enterprise workflow and artificial intelligence platforms and solutions, including enterprise legal management, contract lifecycle management and business process automation, today announced that it has won two Globees in the 16th Annual 2021 IT World Awards for technology and its response during COVID-19.

The awards honor achievements and recognition in the information technology and cybersecurity industries worldwide. Onit won two awards, including:

• The Gold Globee Award for Company Response of the Year in the category of “Creative Ways Companies are Giving Back During COVID-19.”
• The Bronze Globee Award for Best Technology in the category of “To Combat and Reduce the Impact of COVID-19.”

In April 2020, Onit released a suite of free business continuity Apps to help companies better manage the impact of the pandemic. The suite, built on its business process automation platform Apptitude, included Apps to help manage remote workforces, oversee business challenges like work delegation, mitigate company risks and track financial impacts.

The company also developed a unique online learning initiative titled Lean Into LegalOps to help in-house legal professionals share insights into navigating pandemic-related challenges. Its free virtual programming from Onit customers, industry thought leaders and innovators in legal discussed topics like technology strategies, quantifying value and process efficiency with a globally disparate workforce.

The goal of both of these award-winning initiatives was to build an even deeper online connection with the legal community and serve as an excellent corporate citizen during times of extreme uncertainty.

To learn more about Onit and its business continuity Apps and sign up for Lean Into LegalOps, visit onitprostg.wpengine.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.

HOUSTON, July 13, 2021 – Onit, Inc., a leading provider of enterprise workflow and artificial intelligence platforms and solutions, including enterprise legal management, contract lifecycle management and business process automation, today announced that it has released its online catalog of Apps built on its no-code, workflow automation platform Apptitude. Any of these solutions and Apps can be made available to corporate legal departments looking to transform legal operations.

Over the past decade, Onit’s Fortune 500 customers, partners and employees (the Onit Nation) have created more than 5,500 Apps and 130 solutions for legal departments as well as other departments across an enterprise, including HR, sales, accounting and marketing. This online catalog represents the innovation of the Onit Nation, listing modern Apps and solutions that accomplish everything from tracking data privacy breach incidents to trademark renewals to gift and business entertainment approvals.

“Our App catalog illustrates how Apptitude and our business intelligence platform Precedent provide a blank slate of process and automation opportunities. In less than an hour, you can build an App that automates a crucial process for corporate legal and across the enterprise. With no-code platforms, no fee for additional users and a consistent user experience that encourages adoption, Apptitude and Precedent have limitless potential,” said Eric M. Elfman, CEO and co-founder of Onit.

Process Is Everything

Onit’s co-founders started the company 10 years ago with the belief that process is everything. Automating and streamlining processes within corporate legal and across departments give in-house counsel the ability to jettison manual tasks and focus on practicing law.

The App catalog serves as inspiration for corporate legal leaders looking to transform operations one App at a time. It details Apps and solutions that reach into accounting, procurement, finance, enterprise operations, administrative, HR, IT, legal operations, marketing, IP, risk and compliance.

Some examples of creations listed in the App catalog include:

• The vendor and law firm diversity tracking App helps internal teams gather diversity statistics from law firms and vendors to track and manage compliance with corporate policies and diversity goals.
• The whistleblower App provides an anonymous intake of any alleged activities brought in by employees. It organizes, assesses and manages whistleblower allegations in a secure, centralized and workflow-driven solution.
• The trade secrets access management App maintains accurate records of who has access to which trade secrets or components of trade secrets within an organization. It streamlines the process of securing them upon an employee’s departure.
• The mentorship and career development App creates a more formal method of linking mentors to mentees and tracks opportunities for career development, both inside and outside of an employee’s current role within an organization.

Innovation Without the Need for Highly Technical Skills

Onit Apptitude, a workflow and business process automation platform, and Precedent, the company’s artificial intelligence platform, accommodate solutions as complex as contract lifecycle management or as simple as automating a routine task for a handful of stakeholders. Apptitude powers digital transformation with its Process Builder, a visual interface that allows users to build and manage business logic and workflows using a drag-and-drop interface. Builders configure business logic by dragging and dropping actions and groups of actions exactly where they need to go. Building new workflows is intuitive and only takes minutes for experienced builders to learn.

Join the Onit App Catalog Webinar

Onit will host a webinar on July 28 at 12 p.m. ET titled “Drive Legal Innovation One App at a Time.” The webinar will provide an overview of the new App Catalog and demonstrate examples of customer Apps for workflow, process and automation across the enterprise. Registration is available here.

Learn More about Onit Platforms and Solutions

Demonstrations are available for select Apps in the catalog, as well as Onit’s platforms, Process Builder and solutions such as contract lifecycle management and enterprise legal management. Reserve your demo by completing this short form.

Onit Certifications

Onit’s formal certification program provides an easy-to-navigate framework for both securing and quantifying App and solution-building expertise on its platforms. The program is comprised of tracks that include Apptitude, enterprise legal management and contract lifecycle management. To discover more about Onit certifications and training, visit here.

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.

HOUSTON, July 8, 2021 – Onit, Inc., a leading provider of enterprise workflow and artificial intelligence platforms and solutions, including enterprise legal management, contract lifecycle management and business process automation, today announced that it has entered into a strategic alliance with Sterling Analytics, the premier bill review service in the United States, to offer third-party legal invoice review for corporate legal departments of all sizes.

With this partnership, Onit’s Fortune 500 customers and prospects can strengthen and augment their invoice review with an attorney-based consultancy that evaluates more than $2 billion in legal spend annually.

Technology, including billing rules and artificial intelligence, has made tremendous strides in identifying potentially noncompliant charges. However, there will always be gray areas that need additional review. Corporate legal departments, often tasked to do more with fewer resources, can now outsource that review to experts in the field.

“We’re offering the one-two punch with this alliance,” said Matt DenOuden, Senior Vice President of Global Sales for Onit. “Interest in third-party bill review has surged as organizations have seen their savings double. Sterling’s third-party bill review complements Onit’s technology, creating a partnership that allows us to continue to honor corporate legal departments’ relationships with their law firms.”

“In-house teams should focus on legal issues, not legal invoices,” commented Marci Waterman, President of Sterling Analytics. “We’re excited to join Onit in this alliance and help their customers realize greater insight into spend and increased productivity and efficiency.”

Cutting Through the Noise of Legal Invoice Review

Current legal invoice review solutions overwhelm users with notifications and force them to spend too much effort chasing corrections while at the same time failing to give them insight into overall spend trends and vendor performance. Sterling’s legal spend expertise and analytics complement the AI and billing rules from Onit’s Enterprise Legal Management solution to remove the common problems associated with legal invoice review.

Onit’s strategic alliance with Sterling Analytics balances the technological and human aspects of invoice review. Onit’s invoice review technologies catch many of the most common invoicing errors, while Sterling excels at invoice questions that are much more complicated. Together, they answer not only fact-based questions, such as catching calculation errors and compliance with billing guidelines, but also gray areas that call for human review and judgment, such as whether certain charges were performed by the right level of legal professional or are reasonable.

The on-demand webinar “The Power of AI + Human Expertise in Managing Legal Spend” explores the benefits of combining technology and human review of legal invoices. Waterman, DenOuden and Jonathan S. Weber, Vice President, Claim Optimization Legal and Operations Lead for Chubb, discuss how this creates consistent enforcement of outside counsel guidelines, a better understanding of the work your law firms are doing, more time to focus on important work in-house and incredible savings.

How to Get Started

Onit customers can reach out to their account managers to learn how to benefit from third-party invoice review from Onit and Sterling Analytics. Other interested in-house professionals can email [email protected] to learn more.

About Sterling Analytics

Sterling Analytics is an attorney-based consulting and advisory firm that reviews over $2.5 billion in legal spend annually to help companies maximize productivity and reduce costs. As experts qualified in the field of legal bill review in state and federal court, they give extraordinary attention to monitoring law firm compliance, as well as building and strengthening Billing Guidelines to reflect industry best practices, professional responsibility standards and legal precedent. With attorneys experienced in all areas of law, nine language fluencies and internationally based teams to ensure global data privacy law compliance, Sterling is able to provide best-in-class bill review services to companies around the globe.

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.