Archives: News

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.

About the Session

Join Onit as we participate in the Annual Corporate Legal Operations Institute in Las Vegas. Brad Rogers, Chief Operations Officer and Chief of Staff for Law, Compliance, Government & Regulatory Affairs, and Corporate Secretary at TIAA will discuss how he recognized the revolution underway in the legal industry and saw an opportunity to transform the legal department to drive up value while more effectively deploying both budget and talent.

Mr. Rogers will discuss how they optimized legal services delivery with millions in legal spend, and the importance of bringing together law department employees and vendor partners from across the world. He will also highlight how a comprehensive technology platform with capabilities rooted in process, workflow and collaboration is changing the way they run their legal business and support their corporate clients. He will also share lessons learned from the selection and implementation process as well as early results from their outside counsel convergence program.

About Onit
Onit is the leading provider of Enterprise Legal Management (ELM) solutions for the 21^st 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 – February 21, 2018 – Onit, Inc. a leading provider of enterprise legal management, contract management and business process automation solutions, today announced that it has achieved significant milestones in 2017. Onit’s phenomenal success in 2016 set the stage for another stellar year in 2017. Onit announced that it has surpassed its original goals for 2017, in terms of new opportunities created and customer wins, strategic management hires, and several awards and distinctions.

“We would be hard-pressed to ask for a better year for Onit,” said Eric M. Elfman, CEO and founder of Onit. “Instrumental to our success in 2017 were several factors. An annual recurring revenue increase of 80% and two key management hires influenced our accelerated growth. Likewise, the boundless efforts of the entire Onit team impacted our success, as well as demonstrating our deeply-held values of empowering client success and innovation. Industry award wins and other distinctions rounded out our year, and we hope to surpass our milestones this year as well.”

Key 2017 Milestones

• Bookings more than doubled from 2016 and annual recurring revenue increased 80%
• We landed 30 new customers, 18 of which are Fortune 500 companies or equivalent
• We increased our worldwide headcount by 96% and moved to a larger office in Pune, India
• Secured recognition as a marker leader in process automation and enterprise Apps in the Hyperion 2017 Enterprise Legal Management (ELM) Report
• Won the coveted Association of Corporation Counsel (ACC) Value Champion award with Archer Daniels Midland (ADM)
• Launched a new corporate website using design and end user experience best practices
• Unveiled a new user interface (UI) built on the ReactJS platform 

Management Team  

Two key management positions were filled in 2017, further validating Onit’s ability to gather top thought leaders from around the world. York Richards was appointed Chief Financial Officer early in 2017. York brings more than 15 years of finance and operations experience to Onit, including CFO positions at several privately held companies in the Internet and technology industries. He has built large, multi-national finance organizations, completed many strategic acquisitions and divestitures, raised capital in debt and equity markets and managed multiple shareholder exits. A seasoned executive with extensive experience managing finance organizations for high-growth companies, he most recently served as CFO at Riversand Technologies, Inc. where he was responsible for overall financial operations and reporting. As CFO at Onit, York is responsible for ensuring the finance organization can help the company drive growth while capitalizing on the accelerating demand for software solutions that drive efficiency and process automation.

Joe Kazemieh was appointed Vice President of Enterprise Legal Management (ELM) solutions. For the first time, Onit’s executive staff now includes senior leaders from three major competitors. With more than two decades of experience focused on optimizing legal and risk departments and changing the way law departments and law firms work together, Joe Kazemieh will work with corporate legal department clients to optimize service delivery and develop strategies that define the value of legal services within the corporation.

Prior to joining Onit, Joe was the Executive Vice President, Sales, for a major legal services management and technology corporation, where he spearheaded the firm’s new products and initiatives focused on changing how general counsel and corporate legal departments think about legal spend management software.

Awards and Nominations

Onit was recognized by various software, legal industry and financial publications and organizations for its innovation, thought leadership and entrepreneurship in 2017. This commitment to unsurpassed technological excellence and user experience garnered the company several distinctions in 2017:

• Ranked #949 on the 5000 Fastest-Growing company list with an astounding three-year growth of 562%
• Secured a top 20 placement on the Houston Fast 100
• Won the Buying Legal Council Best Use of Legal Technology award with our customer Archer Daniels Midland (ADM)
• Ranked #14 on the Houston Business Journal’s Top B2B Software and App Developer list
• Recognized by Owler as having a top CEO (Eric M. Elfman)
• Recognized in Gartner’s Market Guide for Enterprise Legal Management solutions

About Onit

Onit is the leading provider of Enterprise Legal Management (ELM) solutions for the 21^st 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

Join Onit as we participate in the ACC Annual Chief Legal Officer Forum this year. This session, Working Smarter, Not Harder: Compelling Technological Innovations for the GC Suite, is sponsored by DLA Piper and will be presented by Chris Driver with Onit, Robin Snasdell with Consilio, and moderated by Rob Hoffman with DLA Piper. This unique panel of Chief Legal Officers and Tech Experts will bring you up to speed on the latest innovations to use your time wisely and efficiently.

About Onit
Onit is the leading provider of Enterprise Legal Management (ELM) solutions for the 21^st 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.