Archives: News

HOUSTON, December 12, 2019 – Onit, Inc., a leading provider of enterprise legal management, contract management and business process automation solutions, today announced that it appointed Vignesh Ramamurthy as its General Manager and Vice President of India Operations.

In this new role, Vignesh will oversee all of India’s operations in Pune, India and have direct responsibility for the nearly 100-person team. His vision and strategy will strengthen Onit’s presence in the region as India becomes even more strategic towards building capacity for the company’s acquisitions. With more than 20 years of software development experience in the legal domain, Vignesh understands the complexity of legal departments at Fortune 500 and large global companies and has played a pivotal role in hundreds of implementations.

“It’s always a pleasure for me to announce a new executive appointment,” said Eric M. Elfman, CEO and founder of Onit. “But there is an added level of excitement for me when the person is someone like Vignesh. We brought Vignesh on board in my first startup, Datacert, and he quickly proved himself and rose to higher levels of responsibility. This new key position requires exceptional leadership skills, deep experience in the field, and an overarching vision and strategy, which I’m confident Vignesh will successfully fulfill with expertise and finesse.”

Most recently, Vignesh was at Indix Corporation Inc., a Seattle based startup, building data solutions for analytics around product information on the cloud, where he served as a vice president of engineering. Prior to that, he was the general manager and vice president of India operations for Highradius Inc., an accounts receivable SAAS startup based out of Houston. In this role, he had accountability for building operations in Hyderabad for a 300-member development center supporting all the departments in the United States and EMEA.

Vignesh joined Datacert, a leading provider of enterprise legal management solutions, in 2004 and was responsible for building the India operations in Chennai servicing worldwide customers. He ran the India operations as a vice president from Houston until 2013. Previously, he worked at i2 Technologies Inc. in Dallas, where he was a development manager building solutions for different modules in the supply chain space including demand, supply collaboration and factory planning. Before going to i2 Technologies, he worked at Motorola Inc, as a senior software engineer working on paging and cellular solutions.

Vignesh has a master’s degree in Computer Science and Engineering from University of Texas at Arlington.

About Onit     

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 onitprostg.wpengine.com or call 1-800-281-1330.

HOUSTON, TX – December 11, 2019 – Onit, Inc. a leading provider of enterprise legal management, contract management and business process automation solutions, announced its latest achievement in ranking #33 on Houston Chronicle’s Top Workplaces for 2019. This is the second consecutive year Onit has secured a ranking on this list. The Houston Chronicle recognized 150 companies and organizations in Houston as Top Workplaces for 2019. These companies have been recognized based solely on surveys about the workplace completed by their employees.

“This is a truly amazing accomplishment as our employees are essential to our customers’ and partners’ continued success,” said Eric M. Elfman, CEO and founder of Onit. “We take great pride in cultivating an environment and culture for employees to thrive in and it also motivates us to make Onit an even better place to work for current and future employees.”

Any organization with 50 or more employees is eligible to participate, including private companies, public companies, non-profits and government. Workplaces are evaluated by their employees using a short 24-question survey. Companies were surveyed during April through July 2019. Awards are based on surveys analyzed by Energage, the Chronicle’s research partner for the project. Last year, more than 80,000 local workers gave feedback about their employers as part of the Top Workplaces program. Energage, which conducts Top Workplaces surveys for 50 newspapers, surveyed 2.6 million employees at more than 7,500 organizations in 2018.

Since the Chronicle launched its annual Top Workplaces report in 2010, the Houston region has added more than 700,000 jobs, according to the Texas Workforce Commission. And today’s 4.2 percent unemployment rate — nearly half the rate of 8.3 percent in 2010 — means it’s more important than ever to keep employees happy and create an environment that attracts new workers.

“The Top Workplaces program is about more than recognition,” said Doug Claffey, CEO of Energage. “Our research shows organizations that earn the award attract better talent, experience lower turnover, and are better equipped to deliver bottom-line results. Their leaders prioritize and carefully craft a healthy workplace culture that supports employee engagement. In more than a decade, we’ve surveyed more than 19 million people nationwide, and time and time again, our results show a strong workplace culture inspires employees to do their best. By far, the most successful organizations are the ones employees believe in.”

Learn more about the Houston Chronicle’s Top Workplaces.

Why Onit

At Onit, everything is driven by our core values – passion, persistence, purpose and people. We strive to incorporate them into all aspects of our business and create a culture that innovates side by side with our customers, law firms and strategic partners. As one of the fastest growing technology companies in North America, Onit offers competitive compensation packages, ongoing career development, a 401K plan, health insurance (medical, vision and dental), a fully-stocked kitchen, weekly lunches, new hire happy hours and monthly game nights.

About Onit

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 onitprostg.wpengine.com or call 1-800-281-1330.

HOUSTON – November 13, 2019 – Onit, Inc., a leading provider of enterprise workflow solutions, including enterprise legal management, contract lifecycle management and business process automation, today announced it has partnered with PERSUIT, a process automation platform for engaging outside legal counsel, following the launch of Onit’s Strategic Alliances Program. Designed to provide a robust ecosystem of partners to meet clients’ evolving needs, the Onit Strategic Alliance Program supports external alliances that promote growth and success with principles grounded in strategy, transparency, accountability and rigor. The Strategic Alliance Program provides end-to-end support for Onit’s partners through the entire cycle of onboarding, enabling, selling, delivering and managing.

“This joining of like-minded forces – Onit and PERSUIT – is highly energizing and exciting on so many levels,” commented Eric M. Elfman, Onit’s CEO and founder. “PERSUIT is our newest partner and that makes them a vital component of our Strategic Alliances Program. Onit’s customer base has grown exponentially in just the past year, and with that growth comes a diversity of client needs. I’m confident that the capabilities that PERSUIT brings to law firm selection will be welcomed by our client base and will provide an integrated, end-to-end solution for outside counsel selection and matter management.”

PERSUIT is an RFP and bidding platform that has the ability to integrate with an organization’s e-billing and matter management solutions, to drive efficiency and savings through “true market pricing,” while providing key data insights for decision-making. PERSUIT’s clients have realized 20-40% savings on outside counsel spend when using their technology. PERSUIT complements e-billing and matter management systems, which focus on monitoring spend during and at the end of a matter. PERSUIT’s design and technology significantly streamlines the process of seeking and reviewing proposals for legal services. The process of making increased competition easier also reduces the cost of services purchased.

“Through our sharing of expertise, Onit and PERSUIT are not only enhancing each other’s business and driving transformational efforts to a significant degree, but also expanding our markets,” said Jim Delkousis, CEO and founder, PERSUIT. “We know the power of a strong strategic partnership in creating success. Process and operational improvements require the meeting of great minds, and that’s what our partnership exemplifies.”

About PERSUIT

PERSUIT™ is a Software as a Service (“SaaS”) company specializing in legal services sourcing technology. Founded in early 2016 by Jim Delkousis (a former BigLaw partner), PERSUIT was designed to be easy enough for in-house attorneys and law firms to use with little to no training. The tool is self-service enabled and is an out-of-the box, cloud-based software application, providing corporate law department attorneys the ability to launch Requests for Proposals (RFPs), Requests for Information (RFIs), Hourly Rate Information Requests, Panel Counsel Inquiries, and Alternative Fee Arrangements (AFAs). Each request type can be set up to drive price competition amongst participating law firms via a real time bidding event such that true market price is achieved. PERSUIT is reinventing the way companies engage with outside counsel with a mission to Kill the Bill(able) hour in favor of outcome and value-based fixed and certain pricing models. For more information, visit www.persuit.com or call 1-661-333-5738.

About the Onit Strategic Alliances Program

Onit’s Strategic Alliances program is comprised of an experienced and trusted team that offers tangible results through a robust ecosystem of partners to meet our clients’ needs. Whether using custom Onit solutions, matter management, e-billing, contract lifecycle management, or any of Onit’s other product offerings, the strategic alliances team has established relationships with industry-leading providers to help Onit’s clients realize the greatest value from their Onit implementation. For more information about the types of organizations that Onit partners with, visit https://www.onit.com/about/strategic-alliances/.

About Onit     

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 onitprostg.wpengine.com or call 1-800-281-1330.

HOUSTON, November 12, 2019 — Onit, Inc., a leading provider of enterprise workflow solutions, including enterprise legal management, contract lifecycle management and business process automation, today announced it ranked number 249 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 recorded growth of 441% percent during this period.

“The Deloitte Technology Fast 500 is a list that every company like Onit strives to be on,” said Eric M. Elfman, CEO and founder of Onit. “This achievement is a major source of pride for me and is indicative of all the hard work of our team over the past several years. This is a significant milestone for Onit and validates our strategy to be highly focused on our customers, partners and products.”

“This year marks the 25th anniversary of Deloitte’s Technology Fast 500, so we are especially pleased to announce and congratulate the 2019 winners,” said Sandra Shirai, vice chairman, Deloitte LLP, and US technology, media, and telecommunications leader. “Once again, we saw innovation across the board, with software companies continuing their dominance of the top 10. It’s always inspiring to see how the Fast 500 companies are transforming business and the world we live and work in.”

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 2015 to 2018. These companies are innovators who have converted their disruptive ideas into products, services and experiences that can captivate new customers and drive remarkable growth.

Winners are selected based on percentage fiscal-year revenue growth over a three-year period. 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.

About Onit

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 onitprostg.wpengine.com or call 1-800-281-1330.

About the Session
In just a few short years, the impact of legal operations has had profound effects on legal departments across the industry. Driving efficiencies and containing costs are two key reasons that legal operations is important and is growing so quickly. Legal operations is all about optimizing the legal department’s ability to grow the company, and is expected to bring about some of the biggest changes in the legal ecosystem in years to come.

About Consero Group
Consero Group is an international leader in creating high-level, invitation-only events for senior executives. Since its inception in 2010, the company has hosted over 175 events in the U.S. and Europe across a variety of industries.

At the Corporate Legal Operations Forum, top-of-mind issues are addressed in a conversational exchange among industry thought leaders, enabling participants to share lessons, expertise, leadership skills, and practical tools. Engage in advanced dialogue in an informal boardroom-style setting on specific topics that are particularly suited to smaller group discussions, and participate in all meals and networking functions hosted on site by Consero. These intimate gatherings provide countless opportunities to develop lasting business relationships, and to meet with the most innovative service providers in the industry, one-on-one, based on your individual and departmental priorities.

About Onit
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 onitprostg.wpengine.com or call 1-800-281-1330.

HOUSTON AND MOUNTAIN VIEW, CA – November 6, 2019 – Onit, Inc., a leading provider of enterprise workflow solutions, including enterprise legal management, contract lifecycle management and business process automation, and SimpleLegal, a modern legal operations platform offering e-billing, spend management and matter management, today announced that they will be hosting a webinar with a guest speaker from the premier analyst firm, IDC. The webinar entitled, The Future of Legal Operations: Market Trends, Change Management and Predictions, will be held November 20 at 12:00 p.m. CST.

As a part of this webinar, legal industry leaders Eric M. Elfman, CEO of Onit, and Nathan Wenzel, CEO of SimpleLegal, as well as leading Legal, Risk and Compliance Analyst, Ryan O’Leary of IDC will present on the evolution and future of the legal operations and discuss how chief legal officers and legal operations professionals are digitally transforming the industry with process efficiencies, technology and change management. The webinar will highlight:

• The rise of the legal operations industry and how legal operations professionals can be agents of change;
• Market trends and the evolving legal technology landscape – and why it is critical for legal operations to be successful;
• The essential tool kit for companies looking to invest in legal operations; and
• Predictions for the future of legal operations.

“These are exciting times, as we are seeing much higher levels of operational excellence in the legal operations profession than in the past,” said Eric M. Elfman, CEO and founder of Onit. “Not only are these professionals embracing innovation more and more, but there is a higher demand for automation and a workflow-centric approach. This bodes well for everyone involved, and I foresee that advancements in technology, process-driven service delivery and evolving and segmented roles in operations will be leading the future of legal operations for many years to come.”

Nathan Wenzel, CEO of SimpleLegal added, “With the continued market trend for businesses to embrace new automation in order to be systematically more efficient, all the while being fiscally responsible, the entire legal operations within a company has also evolved and needs to adhere to the same guidelines as any other business department. Hence, the profession and inter-workings of the legal operations professional is expanding and will continue to have steady growth in the next several years; thus making this segment of a business a hot topic to discuss.”

About SimpleLegal

SimpleLegal provides a modern legal operations management platform that streamlines the way corporate legal departments manage their matters, track and interpret spend, and collaborate with vendors and law firms. SimpleLegal combines e-Billing and spend management, matter management, vendor management, and reporting and analytics into one comprehensive application to optimize legal operations and the management of the entire legal department. The company, founded in 2013, is privately held and located in Mountain View, California. For more information, visit www.simplelegal.com.

About Onit 

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 onitprostg.wpengine.com or call 1-800-281-1330.

HOUSTON, October 28, 2019 – Onit, Inc., a leading provider of enterprise workflow solutions, including enterprise legal management, contract lifecycle management and business process automation, today announced that Duff & Phelps has become Onit’s first Strategic Alliances partner with level 4 certified resources. A global advisor that protects, restores and maximizes value for clients, Duff & Phelps has 22 Onit-experienced resources, 16 of which are Onit certified.

“I was thrilled to learn that Duff & Phelps was the first partner to reach our highest certification level,” commented Eric M. Elfman, Onit’s CEO and founder. “Their Legal Management Consulting team’s incredible breadth of knowledge, experience in project management and extensive subject matter expertise has benefited numerous Onit clients. Their core management team has more than 20 years’ experience in this market and have completed several hundred enterprise legal management implementations. I have no doubt that Onit’s partnership with Duff & Phelps will continue to be a mutually beneficial experience and I anticipate more great things happening as a result.”

Duff & Phelps has been one of Onit’s trusted partners since 2017, having worked on 27 projects together across various industries from financial services to health care and high-tech. The Onit and Duff & Phelps relationship extends beyond the United States into EMEA, where they are one of Onit’s leading implementation partners.

“Our relationship with Onit allows for flexible collaboration on product enhancement roadmaps and project delivery to help ensure client satisfaction and project success,” commented Tim Strong, Managing Director and Head of Legal Operations at Duff & Phelps. “Our team can quickly and efficiently deliver Onit solutions as a result of the comprehensive training and certification program and the flexibility of the platform. Onit has filled a gap in the market to automate key legal and compliance processes, reducing manual, inefficient tasks. We look forward to working with Onit and our clients to continue improving operational effectiveness in North America and in EMEA, where we’re seeing a significant increase in demand.”

“With the influx of legal operations improvement projects in EMEA, the reaction to Onit’s technology has been extremely positive. Having certified resources to design and implement Onit solutions, combined with legal operations expertise on our team, is a driving force behind our success in EMEA,” stated Nadine Stuttle, Managing Director EMEA at Duff & Phelps.

About Duff & Phelps

Duff & Phelps is a global advisor that protects, restores and maximizes value for clients in the areas of valuation, corporate finance, investigations, disputes, cyber security, compliance and regulatory matters, and other governance-related issues. They work with clients across diverse sectors, mitigating risk to assets, operations and people. With Kroll, a division of Duff & Phelps since 2018, the firm has nearly 3,500 professionals in 28 countries around the world. For more information, visit www.duffandphelps.com.

About the Onit Strategic Alliances Program

Onit’s Strategic Alliances program is comprised of an experienced and trusted team that offers tangible results through a robust ecosystem of partners to meet our clients’ needs. Whether using custom Onit solutions, matter management, e-billing, contract lifecycle management, or any of Onit’s other product offerings, the strategic alliances team has established relationships with industry-leading providers to help Onit’s clients realize the greatest value from their Onit implementation. For more information about the types of organizations that Onit partners with, visit https://www.onit.com/about/strategic-alliances. For more information about Onit’s training and certification program, visit https://www.onit.com/training.

About Onit 

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 onitprostg.wpengine.com or call 1-800-281-1330.

HOUSTON, October 8, 2019 – Onit, Inc., a leading provider of enterprise workflow solutions, including enterprise legal management, contract lifecycle management and business process automation, today unveiled its new Strategic Alliances Program. This program is Onit’s premier initiative to establish and support external alliances that promote growth and success for their clients and partners; the principles of which are strategy, transparency, accountability and rigor. This remarkable new program addresses the needs of not only Onit’s trusted partners, but of their clients as well.

“This is one of Onit’s most significant strategic initiatives to date,” commented Eric M. Elfman, Onit’s CEO and founder. “The Strategic Alliances Program provides us with almost unlimited opportunities to harness the exponential power of partner teamwork; both internally and externally. In our highly competitive line of business, strategic partners can form a cornerstone of your business and serve as impetus for further extraordinary growth. As our customer base continues its course of unprecedented growth, we expect the numbers of our valuable strategic partners to rise as well.”

The program will build on Onit’s success working with external partners. Since 2017, Onit has worked with partners on 59 clients, with 50 implementations live to date. Onit’s current roster of strategic alliances includes companies offering a variety of services and technology products, and the company is currently evaluating its partner queue for the next wave of strategic alliances.

The group falls under the leadership of Cole Morgan, Vice President of Strategic Alliances, and Amy Good, Director of Strategic Alliances. Amy noted, “We strive to identify partnerships that address our clients’ needs, from consultants who help clients drive value through their Onit implementations, to technologies and services that enable our clients to extend their capacity to manage their operations.”

“Onit’s Strategic Alliance Program enables Consilio’s consultants to deliver valuable, efficiency-creating solutions to our F500 & global clients,” commented Robin Snasdell, Managing Director, Consilio, LLC, Global Lead, Law Department Management. “Their rapid development workflow automation platform has disrupted the legal technology ecosystem. Consilio has benefited from Onit’s technology and their strategy to enable partners to help clients innovate.”

“HBR Consulting is one of Onit’s key strategic alliance partners, having worked together on more than 15 technology projects in the last 18 months. Through our sharing of expertise, Onit and HBR Consulting are not only enhancing each other’s business and driving transformational efforts to a significant degree, but also expanding our markets,” said Wafik Guirgis, HBR Consulting’s Legal Technology practice leader. “We know the power of a strong strategic partnership in achieving success. Process and operational improvements require both knowledge of industry best practices and an innovative use of technology. HBR’s knowledge of the legal operations industry pairs well with Onit’s product offerings, allowing for a truly complementary partnership.”

“Morae Global is a long-time Onit strategic partner with consulting and implementation expertise across the full spectrum of Onit’s platform capabilities, including SimpleLegal. Our passion and focus is on helping law departments and law firms design and implement the right processes, resources, and technology to ensure the successful delivery of legal services,” said Joy Saphla, President, Morae Legal. “By building and leveraging strategic technology partnerships, like we have with Onit, our experienced team is able to collaboratively work with clients on tailored solutions to address the greatest challenges clients face.”

About the Onit Strategic Alliances Program

Onit’s Strategic Alliances program is comprised of an experienced and trusted team that offers tangible results through a robust ecosystem of partners to meet our clients’ needs. Whether using custom Onit solutions, matter management, e-billing, contract lifecycle management, or any of Onit’s other product offerings, the strategic alliances team has established relationships with industry-leading providers to help Onit’s clients realize the greatest value from their Onit implementation. For more information about the types of organizations that Onit partners with, visit https://www.onit.com/about/strategic-alliances/.

About Onit

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 lifecycle 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 onitprostg.wpengine.com or call 1-800-281-1330.

NEW YORK and HOUSTON – September 26, 2019 – Onit, Inc., a leading provider of enterprise workflow solutions including enterprise legal management and business process automation, today announced the official launch of its contract lifecycle management (CLM) software. Onit CLM empowers legal and business teams to streamline the entire contract process, drastically reduce processing time, thereby achieving higher contract compliance rates, and compressed revenue cycles.

Onit CLM is available immediately and can be offered as a standalone product or as part of a broader offering that includes enterprise legal management (ELM), legal service requests (LSR), legal holds, and more than 200+ other operations, risk and compliance workflow solutions.

“The unveiling of our new contract lifecycle management software is a natural extension of our existing portfolio of products and services,” commented Eric M. Elfman, Onit CEO and co-founder. “We built our best-in-class CLM technology based on nearly a decade of building contract workflow solutions for our customers and learning from their needs. We’ve also adapted our best practices for implementing these solutions into the new Onit CLM software. Our commitment to serving Fortune 500 companies and the largest global companies is foundational to our company and we are passionate about building a workflow automation platform that helps drive operational and process improvements across the enterprise – not just in legal. By expanding our footprint in contract lifecycle management, we can offer a comprehensive solution that addresses the growing needs of legal operation departments of all sizes and geographies.”

Market Assessment

As corporate legal operations departments gain more responsibility and oversight of the contract process, they need a technology partner that can grow with them. According to the 2019 Association of Corporate Counsel (ACC) Benchmarking Survey, contract management tools can dramatically shorten cycle times. In billion-dollar companies, legal departments that employ contract management technology reduce their average contract cycle time 33% (from 30 days to 20 days). The profound impact of technology on CLM is gaining momentum globally as more companies are realizing its extensive benefits as a business value driver.

The Onit Advantage: Onit CLM

Onit CLM is a 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. Onit CLM streamlines the entire contract lifecycle and provides ease of use for all parties involved while reducing risk in the process. Supplier and vendor relationships are dramatically improved as well as overall customer satisfaction.

With CLM, companies receive a fully-featured contract lifecycle management product with advanced functionality for authoring, redlining, approvals, and signatures. Built with a powerful reporting engine and robust business analytics, knowledge workers can search, analyze, and report on real-time metrics as well as configure alert notifications to maximize visibility and control. Additional features of Onit CLM include:

• Enterprise Contract Management: Manage buy-side, sell-side, and corporate contracts.
• Clause/Template Library: Manage and maintain contract clauses and templates in a centralized and secure cloud-based repository.
• Contract Generation: Use Microsoft Word or Adobe PDF to automatically generate well-formed custom contracts or submit other party contracts for review.
• Conditional Generation: During contract generation, automatically include/exclude clauses (or other text) based on a robust rules engine and contract metadata.
• Microsoft Word Integration: Empower users to work on contracts within their preferred word processing tool, while maintaining a seamless and secure link to Onit CLM.
• Routing and Approval Workflow: Use Onit’s robust Apptitude business automation platform to design and build simple to complex workflows to generate and route your contracts.
• Document Management: Empower users with automatic version control as well as simple and easy to use check-in, check out functionality.
• Secure Collaboration: Allow secure collaboration between not only your knowledge workers but also third parties to reduce risk and ensure compliance.
• eSignature Integrations: Seamlessly integrate DocuSign and Adobe Sign signatures as part of your Onit contract management workflow.
• Partner and Client Self-Service: Make work easier for not only you but your key stakeholders through our easy to use portals.

Maximize Productivity with Cloud-based CLM

Onit CLM is deployed in the world’s most advanced cloud platform, Amazon AWS, providing companies with maximum performance, reliability, and scalability. Accessible on all major web browsers and mobile devices, companies can access their business-critical contract information anytime, anywhere. Many Onit CLM customers collaborate on a global scale and even use Onit to offshore and onshore contracts work.

About Onit

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 onitprostg.wpengine.com or call 1-800-281-1330.