Author: Onit

Onit Launches Enterprise Legal Management Customer Conversion Program

Excitement is in the air as Onit preps for Legaltech New York, but we also have another great news item. We just launched a customer conversion program that allows customers to easily and predictably transfer to the Onit legal e-billing and matter management platform. Tailored towards Fortune 500 legal teams using legacy enterprise legal management products, solutions or software, the program gives customers an alternative to their existing tool that is either being sunsetted or not supported in future versions of other vendor product roadmaps. Law departments nearing the end of their enterprise legal management contracts are also eligible to participate. Conversion program deliverables include a well-defined project scope, discounted pricing, a sample project plan (complete with a timeline estimate) and fixed budgetary estimates of both implementation and license fees.

For more details about the conversion program and to start a needs assessment, email [email protected].

Read the press release.

Onit Customer Prudential Financial to Present at Legaltech New York 2019 on Process Improvement

Onit is gearing up and excited about this year’s Legaltech New York 2019 event! This year we’re especially enthusiastic since we not only have our booth and demos, but our customer Prudential Financial will be presenting an intriguing session. The session is titled, “A Process Improvement Case Study” and will be presented by Brian Burlew, VP, LCBE Ops, Digital Utility, Prudential Financial on Wednesday, January 30 from 12:00 – 1:00 p.m. EST in the Americas Hall I at the Hilton Midtown.

One of the key areas where law department operation professionals are seeking operational wins is by automating legal and business processes. Legal teams today are being asked to do more with less resources but they need tools to meet these challenges. Join Brian to learn more about Prudential Financial’s approach to process improvement. He will discuss how Prudential’s technology team is driving change with process efficiencies to manage its legal operations, and his presentation will highlight the following:

  • The rationale of their technology team’s process improvement initiatives
  • How automating workflows gives them a better view of all on-going business transactions
  • Lessons learned from the implementation process
  • Early results from gaining visibility into their legal operations

This year’s conference will be held January 28-31 in New York City and offers attendees a unique opportunity to learn about the latest legal technology trends and advancements in a peer-rich environment, while also collaborating to address shared issues and opportunities. To learn more about the conference, click here.

Doing More with Less: How Technology is Optimizing Legal Operations

Many folks in legal departments feel, and rightfully so, that the new paradigm is to do more with less money and fewer resources – otherwise known as lean legal. In the overall scheme of legal operations in achieving its objectives with “less,” technology has increasingly played a prominent role. Driving efficiencies and controlling costs in the legal department are being borne, to a significant degree, by well-chosen technology solutions, and legal operations managers who understand this and are taking action. The major school of thought currently is to run legal operations like a business – and to achieve that goal technology has been playing a key role.

Technology is optimizing legal operations in several key areas. Workflow and automation of processes deserve a spot at the top of the list. Automating routine tasks can shave hours off any busy schedule. Collaboration in 2019 via technology gives a whole new meaning to “work together,” and is forging the future of legal operations in ways we could never have imagined. Data analytics is increasingly important, as analytics can demonstrate the value of technology in the department. Looking at the CLOC Legal Operation’s 12 Core Competencies, the Mature Level is what legal departments should be striving for. Whether legal operations staff are familiar with the competencies or not, technology has been there (for those using it), quietly helping them to reach that magic level.

So if technology is so good at helping us in legal operations, what were the barriers to using it in the first place? A lean budget is often cited as one of the major reasons. Resistance to change also places on the list. But one of the other major reasons is integrating new technology with existing systems. Nowadays, resistance to change is really the only thing that should be holding up progress – the other issues of budget and integration have changed considerably in favor of organizations seeking new technology. There are technology solutions out there for practically every budget and integrations have never been easier. And for the “hard of hearing,” there is no longer a good reason not to be taking advantage of cutting-edge technology. Above all, doing more with less in the lean legal department has never been easier and affordable.

Listen to Onit’s New Podcast About K1 Investment Management’s Strategic $200 Million Investment in Onit

We’re excited to announce our latest podcast! In episode 6, Onit CEO Eric M. Elfman discusses K1 Investment Management’s strategic $200 million investment in Onit to accelerate global growth. Eric begins by explaining the reasons why the transaction is exciting for Onit, one of which is that it validates and recognizes the company for what it has accomplished in the last eight years. Another exciting part is that it provides the funding for Onit to execute to its full potential of becoming a market leader in not only enterprise legal management, but in contract management and business workflow.

Eric continues by explaining that K1 is not interested in breaking apart companies to make a profit, but rather to invest in high-growth companies like Onit by funding their continued growth. Eric emphasized that Onit’s goal remains to grow 50-100% per year over the next five years. He went on to explain that the deal will not really affect Onit’s leadership and its teams, since K1 invested in Onit for the way the organization is currently working – they don’t want to “undo” what has been working well. As far as whether Onit’s platform will change, the intent is to continue evolving its front-end and database and scalability of product has to grow. Pricing won’t increase due to the investment, but prices will continue following ordinary trends by increasing or decreasing accordingly.

Eric closes by explaining that K1 wasn’t the only investor that knocked on our door, and that Onit wasn’t actively seeking money at the time. But since he has known K1’s founding team for more than 20 years and really likes them and their investment concept, Eric decided the time was right to close a deal and selected K1 over another close competitor.

Listen to this podcast.

The Long Road to Business Process Automation and Apptitude Part II: More Early Predecessors

“Daedalus…had the power to construct statues endowed with motion and to compel gold to feel human sensations.”
– Callistratus, Descriptions, 4th century A.D.

In part one of this series we discussed some early attempts at automation, some more successful than others. Surprisingly, we can push the history of automation back even further to about 762 B.C. in ancient Greece. In Homer’s Illiad, he discusses the workshop of Hephaestus and the automatons that worked for him. These automatons were basically mechanical robots that served different purposes. For example, his tripodes khryseoi (golden tripods) were wheeled tripods that would wheel themselves in and out of the halls of the gods during the great feasts as they were needed. There were at least seven other named automatons used to carry out various tasks and missions. Although these automatons lived only in the realm of myth (as far as we know), the fact that automation was already being pondered in the 8th century BC is amazing in itself.

Pushing forward many centuries we find more solid evidence of real automation which laid the groundwork for modern business process automation and our process automation platform, Apptitude. In the 12th century AD, Ismail Al-Jazari created his famous Castle Clock. This clock was renowned in its day for its magnificence and accuracy in telling time, but its foreshadowing of automation is undeniable. Replicas of this clock can be found throughout the world today, including the United States. Through trial and error, Al-Jazari used gears, chains, wood, metal, a float chamber, flow regulator, and water to make the huge clock work. Every hour, doors would open automatically to reveal a figurine, and two gold falcon automata would drop balls into vases waiting below. Automata were a highlight of this wonder. Three times a day, five robotic, mechanical musicians would automatically perform musical pieces when activated by a water-driven camshaft. They would be activated by a system of pulleys, water trough and a water-powered “scoop” wheel. The clock also featured several displays, including the lunar and solar orbits and the zodiac. A crescent moon-shaped disc would move across the frieze indicating minutes.

Al-Jazari’s Castle Clock
Al-Jazari’s Castle Clock

In 1804 an inventor in France had developed several types of looms; including one with a treadle for power and another for weaving fishing nets. But Joseph Jacquard’s most famous invention was an automatic mechanical loom that used pasteboard cards with punched holes to control the process of weaving complex patterns. Prior to this invention, weaving intricate, figured designs was a slow and very laborious process. It required two operators: the skilled weaver and the draw boy to operate the loom. Jacquard felt there had to be a way to simplify the process for weaving complex patterns, and that a mechanism could be developed to make this happen. After much experimentation and trial and error, Jacquard succeeded in making the first programmable loom. Many hundreds or even thousands of these cards would be strung together, each card representing one row of the woven design. Jacquard’s invention was a landmark in computing history and not a fly-by-night fad by any means, since punched cards for computing were in use until the 1980s.


Jacquard’s Loom, showing coded punched cards

Onit would like to pay homage to these and all inventors whose ideas were guiding lights and blazed the path to the modern process automation. Every business process automation platform, including Apptitude, truly has a deep heritage going back many centuries.

Onit Secures $200 Million Strategic Investment from K1 Investment Management to Accelerate Global Growth

Onit is thrilled to announce that K1 Investment Management has made a $200 million strategic investment in our company. With the investment, Onit will scale operations to meet the increasing demand for innovative, market-leading process automation technology and enhance its back-end infrastructure to increase its scalable platform to meet continued growing client demand. Additionally, the investment will help fund go-to-market strategies, accelerate new product development and increase functionality of existing product offerings.

Onit’s CEO Eric M. Elfman is especially thrilled about this investment – “We are very excited to partner with K1 and their significant investment in our company further demonstrates the continued growth trajectory for Onit. We believe that we are clearly proving that our approach to streamlining business process – creating better workflows and not better databases – fundamentally sets us apart in the industry and is driving growth. We have the only end-to-end platform that solves workflow and process challenges across the enterprise. In fact, we have configured and deployed more than 200+ solutions and are instrumental in driving the transformation with some of the most innovative global companies in the world. As we scale to meet increasing demand, we are excited to also accelerate our investment in product development, resources and operations.”

Likewise, K1’s Managing Partner Neil Malik shares enthusiasm about this deal – “Onit’s platform has raised the bar on what users expect from software that extends beyond legal across the enterprise. We’ve seen the company more than triple its customer base and revenue in two years and we have tremendous confidence in the management team’s long–term vision. It’s exciting to partner with a team that pioneered the legal software space nearly 20 years ago and to now see how their innovative solutions are transforming the way Fortune 500 companies and legal departments operate.”

Onit’s client Anna-Lisa Corrales of Jaguar Land Rover North America offered her excitement on hearing the news – “We are on a legal transformation journey at Jaguar Land Rover toward greater efficiency and effectiveness, and the partnership between our law department and Onit has been instrumental in accelerating this process. We had to rethink the use of our internal and external resources and knew that we wanted to build partnerships with technology experts to help drive this revolution. We found that commitment from Onit and its management team. Rooted in an innovative system architecture that supports our needs for process automation, workflow and collaboration, Onit’s platform can enable best-in-class solutions for our growth today and in the future.”

Read the press release.

Corporate Counsel Best of 2019 Survey: A Great Opportunity for Onit Customers

It’s that time of year for the 4th annual Best of Corporate Counsel reader choice survey! Today is your chance to let your voice be heard: Who are the top law firms and legal service providers serving the nation’s legal industry? As a valued Onit customer, we wanted to pass along an opportunity to participate in Corporate Counsel’s Best of Corporate Counsel 2019 survey. We at Onit are hoping that you’ve been happy with our services, and if so, we encourage you to vote.

It’s time to recognize and celebrate your trusted business partners’ products, services and expertise in the 2019 Best of Corporate Counsel – a survey of the top solution providers servicing the legal industry. Whether it’s the best service, best product, best value – now is your opportunity to shower them with praise. Vote today!

Voting is open through 11:59 pm ET January 4, 2019. While voters do not need to cast their opinion in every category, we do encourage you to answer as many as possible! Finalists in each category will be determined by the popular vote, so we encourage you to forward this survey across your network — best of luck, and congratulations to all of our 2019 nominees!

There are a lot of categories in the survey, so here’s a shortcut to finding Onit. We’re in category #30, “Who offers the nation’s best matter management software?”

Click here to take the survey.

Onit’s Blog Post Highlights July – December 2018 (Oh What An Amazing Year)

A lot has happened in the world of Onit since July. We’ve selected some blogs spanning the past six months that may pique your interest and bring you up to date:

Product-related posts:

Award blog posts:

Company-related posts:

 

Enterprise Legal Management and Process Problems: Take Ultimate Ownership of Your Process Management

“Most people have a very strong sense of organizational ownership, but I think what people have to own is an innovation agenda.”

-Satya Nadella, CEO Microsoft

Have you been looking at your department’s process management in terms of data problems? Join the crowd – we’ve all be guilty of that. But 2019 is right around the corner and we should be ringing in the New Year by thinking in terms of process problems and a workflow-based approach. Traditional data-centric enterprise legal management (ELM) is a thing of the past and we need to move on. A solution-based approach to legal operations management by breaking up ELM into individual task-based solutions and processes is not some passing high-tech fad, but the way of the future – and challenges the older data-focused matter management model.

A system that allows its users to create and incorporate the discrete capabilities and components of a broader enterprise system “as they need them” is the way to go. Core matter management and e-billing functionality that can be augmented through a collection of solutions designed to address discrete operational activities allows users to scale the system in an appropriate manner consistent with operational goals.

Again, we should be looking at the elements of ELM as process problems instead of data problems. When we do this, we’re clearly taking more ownership in business process management, even though we may not immediately realize it. And in order for corporate legal to be a true corporate citizen, it needs to have a deeper stake in business processes.

Learn more about Onit’s enterprise legal management solution.

The Long Road to Business Process Automation and Apptitude Part I: Seeds are Planted

“Technology feeds on itself. Technology makes more technology possible.”

– Alvin Toffler, Future Shock, 1970

When we think of how business process automation (BPA) got its start, Ford’s assembly line comes to mind for many people. For others, the invention of the steam engine was a pivotal moment in BPA history. Though the assembly line of a century ago only loosely fits our modern, narrow definition of BPA, it was an impetus to push forward with the idea of automation. Needless to say, Onit’s Apptitude platform rests squarely on the shoulders of many centuries of advancements in automation.

There is evidence that by 250 BC the Egyptians were using a water clock called a clepsydra. Clepsydras had already been around for centuries before, but this one was different than older ones. This special water clock featured a simple but effective feedback control device, which is a critical component of automation. In earlier clepsydras, the outflow of water from the clay vessel wasn’t constant. The water flowed out faster when the vessel was full, and gradually slower when the water level was lower. Ctesibius came up with the idea of using a simple float regulator to control a constant rate of water flow, and at the same time ushered in a new era in automation history.

In later centuries, various other automatic controls were invented. In 50 BC we find that the Chinese were using water-powered trip hammers as a simple automated process. Around 20 AD Heron of Alexandria wrote about various types of automation that used feedback mechanisms. In the 17th century, automatic devices for controlling temperature were invented. Similar in principle to the more ancient clepsydra water-float clock, these devices controlled the temperature of incubators. Other thermostatic devices followed up through the 19th century, each with varying improvements over previous devices.

The steam engine not only helped propel the assembly line, but also deserves a prominent place in automation history. In the 18th century, a mechanical governor was invented to automatically control the speed of the steam engine. Perhaps the most important automatic control device of the period, the idea for the steam engine governor came from a most unlikely source. A century before, the centrifugal governor was being used to control the gap between the upper and lower millstones. When grinding grains it was necessary to carefully monitor the gap in order to achieve consistency in the final ground product.

In part II of this blog series we’ll discuss some later efforts in the drive toward modern business process automation.