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Onit Incorporates Recent Acquisitions Into Comprehensive Portfolio of Solutions That Optimize Legal Operations by Enabling Smarter, Faster Business Decisions

Posted on March 8, 2023 by -

Onit bolsters ELM offering with new product integrations that increase rate accuracy and drive efficiency across legal business operations

HOUSTON (March 8, 2022) — Onit, the leading provider of legal workflow solutions, including enterprise legal management (ELM) and contract lifecycle management (CLM), today announced a set of integrations to its ELM solutions that further incorporate two of its recent acquisitions into its comprehensive portfolio for managing advanced legal workflows. The integrations, which stem from Onit’s acquisitions of Bodhala and BusyLamp in September 2021, optimize legal operations in two key areas — financial benchmarking and localized support for Europe.

The new integrations with Onit Spend Management and Onit Matter Management address three common industry challenges: lack of supporting industry insights at the point of decision, data silos and tool proliferation. Onit Spend Management leverages Bodhala’s comprehensive benchmarks from data that includes more than $47B in legal billings. This provides a breadth of comparison for proposed changes to current timekeeper rates and evaluation of new rates. For European legal departments, the integration of Onit Matter Management and BusyLamp eBilling.Space offers a proven ELM solution with a configurable matter management workflow that eliminates the double entry of matter information. Collectively, these integrations enable sophisticated legal departments at large multinational corporations to make smarter, cost-efficient choices at the point of decision.

Benchmarking for Smarter Spend Management

Onit Spend Management’s integration with Bodhala’s AI-enabled technology pulls data from 200,000+ timekeepers and nearly 9,000 law firms, improving the accuracy of benchmarks and providing germane data points so legal teams always understand the going rate for timekeepers against the context of an individual law firm, the company’s entire panel of law firms and the market at large. By providing insights at the point of decision, legal departments eliminate the need for time-consuming and often costly ad-hoc rate analysis as they now have the unique ability to quickly approve new timekeeper rates resulting from outside counsel promotions, raises or additions to a firm.

A Complete European ELM Solution

Onit Matter Management’s integration with BusyLamp’s legal spend management solution provides a single system of record with specific capabilities for European corporate legal departments. Matters can be created in Onit Matter Management and then synced with BusyLamp with the click of a button for matters where outside counsel is engaged. This offers a flexible and configurable matter approval workflow capability while also leveraging specific currency, regulatory and tax capabilities that Busylamp provides for the European market today, without having to manage legal matters in two different systems.

The integrations with Onit Spend Management and Onit Matter Management will be widely available to customers in July.

“The transformation of legal operations begins with smart, integrated solutions that evolve with your business’ unique needs,” said Scott Wallingford, President of Onit’s Enterprise Business. “These integrations are the first of many we have planned to ensure improved collaboration across Legal and greater access to actionable insights that help make smarter and faster business decisions. At Onit, we are tying together our corporate acquisition strategy and product portfolio’s evolution to help customers optimize their legal operations.”

Learn more about the new Onit Spend Management integration here and Onit Matter Management integration here. Onit is also offering live demonstrations of all its ELM and CLM solutions at Legalweek New York 2023 on March 20 – 23.

Additional Resources

​For the latest company and industry news, legal operations trends and best practices from corporate legal innovators, read the Onit blog and follow us on LinkedIn.

About Onit

Onit is the leading provider of legal workflow solutions for enterprise legal management (ELM) and contract lifecycle management (CLM). Onit’s comprehensive product portfolio customizes AI-driven workflows for managing matters, spend, vendors and contracts. With Onit, companies can evolve the legal department’s role as a business protector and transform it into a business driver that materially influences the enterprise by improving operational and cost efficiency while simultaneously contributing to faster revenue generation and business growth.

The Onit portfolio of products includes SimpleLegal, AXDRAFT, Bodhala, BusyLamp and SecureDocs. Learn more at onitprostg.wpengine.com.

Onit Bolsters CLM Solution With AI-Enabled Risk Analysis Dashboard and Key CRM, ERP Integration to Drive Efficiency Across Enterprise Business Operations

Posted on December 8, 2022 by -

New integration with Salesforce and SAP Ariba increase productivity and connect legal workflows more closely to key business departments

HOUSTON, Dec. 8, 2022 — Onit, the leading provider of enterprise workflow solutions, including enterprise legal management (ELM) and contract lifecycle management (CLM), today announced a set of feature upgrades to its CLM solution that enrich data analytics and more closely tie contract processes with key stakeholders across the enterprise — from procurement to sales.

Onit CLM’s release addresses two challenging areas of the contract management process: reporting and analytics and system integration. The reporting dashboards leverage AI and data insights to help business leaders minimize risk associated with clause violations, such as force majeure, payment terms and intellectual property from customer-defined contract rules. New system integration with major CRM and ERP systems like Salesforce and SAP Ariba increases efficiencies in critical legal and claims workflows, meeting customers where they work and making work flow seamlessly. In short, the integration with Salesforce and SAP Ariba bring Legal workflows closer to the business.

Onit CLM’s set of newly released features includes:

  • Risk Analysis Dashboard: Assess low, medium and high-risk contracts based on customer-defined rules using proprietary AI from Onit.
  • Clause Usage Dashboard: Approach clause library management with intelligent visibility into how often clauses are used; allows customers to modify clause libraries based on data and historical actual world actions.
  • Salesforce Integration: Give sales teams the transparency to always know the location and status of their contracts within Salesforce, including agreements coming up for renewal.
  • SAP Ariba Integration: Enable users to initiate contract workspace creation within SAP Ariba and streamline the flow of supplier data into Onit CLM, reducing data re-entry and improving efficiency.

Applying Onit CLM’s new dashboards and integration to current contract management processes allow users to make real-time decisions about clause violations and new or obsolete contract language while simultaneously achieving seamless data transfer between core business systems to avoid migrating data outside of workflows.

Onit CLM’s risk analysis dashboard is available to customers using Onit’s ReviewAI for contract review and drafting, and clause usage dashboards are available to customers with a Tableau license. The system integration is  available to customers using SAP Ariba or Salesforce, with the Salesforce integration soon available via the AppExchange.

“An end-to-end CLM solution connects legal teams more closely to key business departments such as Sales, IT, HR, Business Operations and more while elevating collaboration, efficiency and productivity across the enterprise,” said Mary Fuzat, VP of Product at Onit.  “By leveraging more AI-powered insights and further integrating with common front- and back-office systems, Legal has the opportunity to empower the business to focus more strategically and efficiently — while still protecting the company.”

Learn more about the new Onit CLM features here.

About Onit
Onit is the leading provider of workflow solutions for enterprise legal management (ELM) and contract lifecycle management (CLM). Onit’s comprehensive product portfolio customizes AI-driven workflows for managing matters, spend, vendors, and contracts. With Onit, companies can evolve the legal department’s role as business protector and transform it into a business driver that materially influences the enterprise by improving operational and cost efficiency while simultaneously contributing to faster revenue generation and business growth.

The Onit family of companies includes SimpleLegal, AXDRAFT, Bodhala, BusyLamp and SecureDocs. Learn more at onitprostg.wpengine.com.