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Seasoned global technology executive punctuates fast-growing company’s dedication to delivering solutions across all stages of legal transformation

HOUSTON, June 23, 2022 – Onit, the leading provider of enterprise workflow solutions including enterprise legal management (ELM) and contract lifecycle management (CLM), today announced that Scott Wallingford has joined the company as President of Enterprise Business. In this role, Wallingford will lead all aspects of Onit’s enterprise business, including establishing and executing the strategy for growing an expanding product portfolio dedicated to the company’s Fortune 500 client base.

The addition of Wallingford, a seasoned growth-oriented global technology executive with a proven track record of transforming software businesses through strong operational and inspirational leadership, punctuates a time of exponential growth for the company. In just three years, Onit acquired six companies in the AI, ELM, and CLM spaces — SecureDocs in December 2021, BusyLamp in September 2021, Bodhala in August 2021, AXDRAFT in December 2020, McCarthyFinch in November 2020 and SimpleLegal in May 2019. Onit plans on growing its employee base by 31% in 2022 to support the relentless innovation dedicated to broadening its product portfolio.

Onit’s acquisition strategy reflects the company’s dedication to helping its customers modernize workflows that directly impact the operational efficiency of legal departments and, ultimately, the speed of revenue generation. Rather than selling point solutions that only address a subset of challenges or massive quantities of features that typically go unused, Onit is focused on delivering right-sized solutions based on a company’s actual business needs.

“Legal operations is still rather nascent as a function, and Onit has a tremendous opportunity to elevate Legal’s relationship with its internal clients by equipping the legal department with technology purpose-built to make legal workflows more efficient across the enterprise,” said Eric Elfman, CEO and co-founder of Onit. “With his deep-seated knowledge of the legal tech industry and successful track record growing global legal software solutions, Scott will undoubtedly accelerate the growth of ELM and expansion of CLM in the enterprise market.”

“Onit has long established itself as the leader of the ELM enterprise market and now has a golden opportunity to expand CLM beyond the legal department,” Wallingford said. “Onit is an incredible team of passionate innovators genuinely focused on helping customers grow and improve their legal operations, regardless of how far along they currently are in the process. I am excited to join a company so deeply dedicated to their customers that it built its business model to ensure customer satisfaction and success.”

Wallingford has a deep history of delivering superior revenue growth, margin expansion and high customer satisfaction through product investments, acquisitions and strategic divestitures. He comes to Onit from Honeywell, where he established and led a global software and solutions organization that included sales, marketing, product management, engineering and operations. Previously, Scott led LexisNexis’ Legal Software Solutions business, which includes a global portfolio of five businesses — InterAction, CounselLink, Juris, Time Matters, and PC Law — targeting law firms and enterprise customer segments. He also held leadership positions at AT&T, Sabre Corporation, and Booz & Company. Scott holds an MBA in Finance from Duke University’s Fuqua School of Business and a Bachelor of Science in Electrical Engineering from Northwestern University.

Additional Resources

Read and subscribe to the Onit blog for the latest company and industry news. Join us on LinkedIn, follow us on Twitter or listen to our podcasts to hear the latest news on legal operations, artificial intelligence and best practices from innovators in corporate legal.

About Onit

Onit is a global leader in artificial intelligence platforms and enterprise workflow 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.

The Enterprise Legal Reputation (ELR) Report also finds Legal can directly contribute to the growth of its businesses by increasing revenue and improving sales negotiations with greater automation — powered by the combination of AI and Contract Lifecycle Management (CLM)

HOUSTON, June 21, 2022 (GLOBE NEWSWIRE) — Onit, the leading provider of enterprise workflow solutions including enterprise legal management and contract lifecycle management, today released chapter two of its Enterprise Legal Reputation (ELR) Report, a multinational study spotlighting the image enterprise employees have of their legal departments, the way legal professionals see their interactions with internal clients, and the material impact Legal can have on its businesses — from revenue generation and operational efficiency to innovation and corporate culture.

In January, Onit commissioned Provoke Insights, a New York City-based market research firm, to conduct a study of 4,000 enterprise employees and 500 corporate legal professionals across the United States, United Kingdom, France and Germany. The study helps corporate legal departments understand their brand image through the eyes of their internal clients so they can improve working relationships, accelerate legal workflows and more effectively impact topline revenue and operational efficiency.

While chapter one of the ELR Report revealed that 65% of enterprise employees have knowingly bypassed legal policies on occasion, the findings in chapter two uncover the massive potential Legal has to shed its lingering perception as a back-office function and establish greater rapport throughout its businesses. The biggest opportunity to impact revenue generation relies on a strong link to Sales, as nearly seven in 10 (68%) legal respondents believe they help Sales effectively close deals and generate revenue.

Given the amount of time Legal spends on contracts — globally, 40% of legal professionals acknowledge spending four to five hours a day reviewing and managing contracts — nearly half (44%) believe improving the execution and efficiency of contracting will positively affect the speed of deal cycles and deal closure.

The legal department, for the most part, feels an urgent need for modernization with 47% of respondents saying their technology is insufficient and 46% admitting it’s outdated. Automated, AI-driven contract lifecycle management (CLM) is a major opportunity for legal departments to support the speed and growth of their business.

Despite the broad desire to streamline inefficiencies, the study finds various roadblocks preventing improvement. Nearly half (44%) of legal professionals admit their department is averse to change, 39% blame a lack of budget and 25% say they simply do not have time to learn new technology. Perhaps most surprising, and simultaneously concerning, two-thirds (67%) feel executives are unsupportive of Legal’s modernization, even if it means providing better client service and customer experience.

“As the ELR Report reveals, Legal has the golden opportunity to improve operational and cost efficiency while also influencing faster revenue generation and business growth,” said Brad Rogers, Onit’s senior vice president of strategy & growth and a previous leader of transformation in a large global law department and at other enterprise companies. “Legal can connect more deeply and materially across an enterprise organization, making its role as a protector of the business even more meaningful. Simply put, Legal can be a transformational agent in creating both productive and impactful corporate cultures while simultaneously driving business results.”

Other key findings that magnify Legal’s opportunity to positively influence functions across the enterprise include:

• More than three in five (61%) corporate legal professionals believe they positively impact their businesses’ abilities to innovate and differentiate competitively by supporting and protecting company patents and intellectual property (IP).
• Legal is taking a more active role in influencing corporate culture with 38% in the United Kingdom, 35% in Germany, 26% in France and 22% in the United States prioritizing diversity, equity and inclusion (DEI) for their departments.
• Half of legal respondents (52%) report their department and companies are prioritizing vendor diversity, a greater emphasis than the attention on diverse hiring initiatives (38%).

Read the ELR Report to learn more about how legal professionals view their relationships with internal clients in comparison to the image enterprise employees have of their legal departments.

Additional Resources

Read and subscribe to the Onit blog for the latest company and industry news. Join us on LinkedIn, follow us on Twitter or listen to our podcasts to hear the latest news on legal operations, artificial intelligence and best practices from innovators in corporate legal.

About Onit

Onit is a global leader in artificial intelligence platforms and enterprise workflow 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.