Archives: News

Houston, October 30, 2018 – Onit, Inc. a leading provider of enterprise legal management, contract management and business process automation solutions, is excited to announce a major office move to larger facilities in Houston. Onit will be moving from its current location at 601 Sawyer in the Heights area to the 22nd floor of 1360 Post Oak Blvd in the Houston Uptown area.

The new office space is approximately 21,000 square feet, which makes it nearly three times larger than the previous office and will house more than 120 employees. The new facility will provide Onit staff with much-needed space to accommodate its astronomical growth.

“We are excited to relocate to our new, larger office in the Galleria,” commented Eric M. Elfman, CEO and founder. “This move represents another significant milestone for our fast-growing software company. The new office space better accommodates our growing team and enables us to hire additional talent to continue to provide industry-leading support and service to our global clients. The additional space will also help drive innovation and provide the opportunity for further expansion into additional markets, product lines and services.”

The new space reflects the innovative culture of Onit and strives to make it a great place to work. The facility features technology-enabled conference rooms and stations where teams can collaborate on solutions with colleagues, customers, partners and offsite employees.

Onit made the Inc. 5000 list of fastest-growing private companies for the past several years, including 2017. In addition, Onit’s CEO Eric M. Elfman was recently a finalist for the Ernst & Young Entrepreneur of the Year and Onit’s CFO York Richards was named a finalist for CFO of the Year by the Houston Business Journal.

About Uptown Houston

With 28 million square feet of commercial office space, Uptown Houston is one of the nation’s largest business districts. Headquarters to some of the most prominent energy, financial, real estate and professional services companies in the world, Uptown Houston is an address that defines success. Companies seek out the area for its Class A office space, beautiful environment and broad range of business amenities. Uptown is an urban community of exceptional beauty, sophistication, style and international prominence in the heart of Houston. It is defined by its unique blend of prestigious business and residential addresses, with the best in shopping, hotels, dining and entertainment.

About Onit

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

AUSTIN – October 23, 2018 – Onit, Inc. a leading provider of enterprise legal management, contract management and business process automation solutions, today announced a “starter package” for companies looking to solve workflow and process problems across the enterprise (i.e. legal, sales, compliance and finance departments). Apptitude, Onit’s business process automation platform, is unique in the market. It is the only end-to-end platform upon which more than 200+ operations workflows have been built. Onit’s solutions have helped transform some of the largest global companies with streamlined internal processes, greater visibility into transactions and improved operational efficiency. A “departmental license” (i.e. one focused on legal and compliance) and enterprise license (unlimited across the full organization) are now generally available. Starting today, customers new to the Onit platform can purchase a “Ten Pack” of workflow solutions to use in the first year at a fixed low cost. This special packaging is only available until December 31, 2018.

“Onit’s unique platform encourages corporate legal departments to holistically solve their legal department’s needs,” commented Eric M. Elfman, Onit’s CEO and founder. “Our solutions can be developed and deployed by our team, a consulting or technology partner or a customer. Some customers purchase an Onit Apptitude platform license allowing them to build and configure as many solutions as needed. Because customers can add additional workflows as needed, Onit’s platform grows alongside your legal and business teams.”

Onit’s Appttitude platform empowers legal operation teams to run legal like a business so they can drive efficiency, contain costs and help manage the myriad of tasks including vendor management, systems implementation, strategic planning, technology assessments and knowledge management initiatives. The platform provides a foundation for all solutions across the business and supports an unlimited number of solutions – from department-specific (i.e. legal spend management, legal holds, legal service requests, NDAs, matter management, etc.) to shared solutions common across all industries (i.e. contract management, ticketing, NDA, etc.). The platform also scales to support thousands of users and millions of documents. Additionally, a new version of the release is announced every month allowing users to benefit from the latest technology innovations and best practices.

“Onit’s Apptitude platform is uniquely different because it is not a ‘point’ solution that solves part of the problem for legal department operation professionals such as storing and capturing documents, tracking matters, managing legal bills, docketing IP, etc.,” commented, Matt DenOuden, VP of Global Sales, Onit. “Onit has products in all these areas, offering matter management, e-billing, contract and document management and legal holds solutions. What separates Onit are the 200 plus other legal and compliance use cases it has helped clients solve. We listen to the voice of the customer who has long been saying, ‘it is not just capturing my matters that I need to serve my internal stakeholders; I need to capture risk on incidents that have not yet become matters; I need a way for my colleagues outside the law department to reach out to the law department for help and guidance; I need a way to capture and timely respond to customer complaints; I need a way to manage the approval process of new outside law firms; I need to capture all the work of the law department, not just matters assigned to outside counsel. And most of all, I would like to get this all out of email and spreadsheets, so I can show the fact that we do have rigor around these processes, and so I can report on all of it.’”

In the last five years, Onit has not only grown to become one of the leading enterprise legal management providers but has also helped its customers solve hundreds of other collateral use cases, some of which include: law firm onboarding, travel approval, whistleblower, SOX compliance, budgeting, FINRA customer complaints, security incident management, etc.

Apptitude is easily configurable, scalable, agile and offers low-code configuration to enable fast development. Among its many capabilities, Apptitude features state-of-the-art collaboration, integrations, security, process, collaboration and workflow. To learn more, visit https://onitprostg.wpengine.com/apptitude-platform/.

About Onit

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

About the Session
Law departments are going through a transformation. With the emergence of legal ops teams handling more of the day-to-day and operational aspects of the role, GCs and counsel are taking on more strategic and managerial roles within their departments. This session will look at how law departments continue to evolve and best practices for moving yours forward – from developing KPIs for your team to separating the legal operations function, to expanding the team and thinking in global terms.

About the General Counsel Conference
The 30th Annual General Counsel Conference addresses the issues of the modern legal business and provides in-house counsel and legal executives with real-world examples and usable takeaways from best-in-class speakers and general counsel peers. The General Counsel Conference gathers an elite audience of in-house, general counsel, chief legal officers and senior legal management to tackle the top issues facing general counsel today. Participants hear from experts with a variety of perspectives, and take away actionable strategies to tackle key challenges and deliver on departmental and company-wide goals. To learn more about the conference, click here.

About Onit
Onit is the 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 onitprostg.wpengine.com or contact 1-800-281-1330.

HOUSTON, July 20, 2018 – Onit, Inc., a leading provider of enterprise legal management solutions, today announced that it appointed Scott Kurtz as Vice President of Professional Services.

Scott most recently served as executive vice president of professional services at Openlink, a leading software company in energy trading and risk management, where he was responsible for client software implementations globally. He was also responsible for driving innovation, automation and implementation best practices and managing more than $100 million of professional services globally.

Scott comes to Onit with an arsenal of executive and professional services experience including technology management, business and consulting operations, business process consulting, professional services sales enablement and contract management.

“This is without a doubt one of the best strategic decisions we’ve made,” said Eric M. Elfman, Onit’s CEO and founder. “Scott’s remarkably powerful business judgment and track record of aggressively driving productivity and profitability were two deciding factors in our decision to bring him on board. Scott, with his extraordinary talent and leadership, will be instrumental in pushing our company to the next level of growth in both the near and long terms.”

As Vice President of Professional Services at Onit, Scott will be responsible for client implementations and will help build capability for serving customers as Onit continues to grow its customer base.

Prior to Scott’s role at Openlink, he was vice president of professional services at Amphora, where he maintained executive relationships for product implementations and managed Energy Trading software engagements. During his broad career, Scott also held several key management and executive financial positions at various high-growth companies.

Scott holds a bachelor’s degree in Finance from the University of Texas at Austin.

About Onit

Onit is the 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 solutions help customers drive tremendous gains in efficiency, accelerate transaction velocity and reduce costs. For more information, visit onitprostg.wpengine.com or contact 1-800-281-1330.

HOUSTON – June 26, 2018 – Onit, Inc. a leading provider of enterprise legal management, contract management and business process automation solutions, today announced it has entered into a $10 million credit facility to support growth initiatives with Silicon Valley Bank (SVB), the bank of the world’s most innovative companies and their investors.

“We appreciate Silicon Valley Bank’s vote of confidence in our business plan, product offerings, and seasoned management team,” commented Eric M. Elfman, CEO and founder of Onit. “The new credit facility supports our continued growth initiatives and strengthens our financially flexibility to expand both domestically and overseas. The continued access to working capital will help us achieve our corporate objectives and support potential future acquisitions. Additionally, we will have the opportunity to invest more heavily in R&D efforts to improve the scalability and efficiency of our business process automation platform. We are looking forward to a long term relationship with Silicon Valley Bank.”

“The continued growth of Onit is a testament not only to its industry-leading software platform, but in the team Eric has assembled around it,” said Weston Rice, Vice President at Silicon Valley Bank. “SVB is pleased to provide this capital to augment both the short- and long-term growth initiatives of the business.”

The $10 million of capital will be used for growth and general corporate purposes.

About Silicon Valley Bank 

For 35 years, Silicon Valley Bank (SVB) has helped innovative companies and their investors move bold ideas forward, fast. SVB provides targeted financial services and expertise through its offices in innovation centers around the world. With commercial, international and private banking services, SVB helps address the unique needs of innovators. Learn more at svb.com.

About Onit

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

About the Session
Contracts are the cornerstone of all business transactions, but the process is often fragmented. In most cases, a contract review and approval process requires involvement from multiple departments and is typically handled by email. There is far too little visibility as to where a contract is, how long it’s been there or when it’s expected to be completed. And once a contract has been executed, it is often unclear where that contract is being maintained. This session will highlight case studies that implemented a process automation platform to address these challenges and the lesson learned during the process.

About the ACC Legal Operations Conference
The 4th annual ACC Legal Operations conference offers its members a unique opportunity to learn about the latest trends and advancements in a peer-rich environment, while also collaborating to address shared issues and opportunities.

About Onit
Onit is the 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 onitprostg.wpengine.com or contact 1-800-281-1330.

HOUSTON, May 23, 2018 – EY today announced that Eric M. Elfman of Onit is a finalist for the Entrepreneur of The Year^® 2018 Award in the Gulf Coast Area. The awards program recognizes entrepreneurs who are excelling in areas such as innovation, financial performance and personal commitment to their businesses and communities. Eric was selected as a finalist by a panel of independent judges. Award winners will be announced at a special gala event on June 14, 2018, at the Marriott Marquis Houston.

“Being an Entrepreneur of the Year regional finalist is a distinct honor for me and a tribute to our dedication and hard work at Onit,” said Eric M. Elfman. “It’s highly energizing for all of our team members here and abroad, and the recognition couldn’t come at a better time in our company’s growth trajectory.”

A previous winner in 2002, Eric was named the Ernst & Young Entrepreneur of the Year award in the emerging technology category when he was the CEO of Datacert (now Wolters Kluwer ELM Solutions).

Now in its 32nd year, the program has expanded to recognize business leaders in more than 145 cities and more than 60 countries throughout the world. Regional award winners are eligible for consideration for the Entrepreneur of The Year National competition. Award winners in several national categories, as well as the Entrepreneur of The Year National Overall Award winner, will be announced at the Entrepreneur Of The Year National Awards gala in Palm Springs, California, on November 17, 2018. The awards are the culminating event of the Strategic Growth Forum^®, the nation’s most prestigious gathering of high-growth, market-leading companies.

About Entrepreneur of The Year^®
Entrepreneur Of The Year^®, founded by EY, is the world’s most prestigious business awards program for entrepreneurs, chosen from an independent panel of judges including entrepreneurs and prominent leaders from business, finance, and the local community. The program makes a difference through the way it encourages entrepreneurial activity among those with potential and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global awards program of its kind, Entrepreneur Of The Year celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 145 cities and more than 60 countries. ey.com/eoy

About Onit
Onit is the 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 onitprostg.wpengine.com or contact 1-800-281-1330.