Author: Onit

Five Must-Have Features of a Contract Lifecycle Management Solution

Posted on October 24, 2017 by - Business Process Management, Contract Lifecycle Management

Contracts directly impact your ability to meet sales goals and execute on corporate initiatives. But managing the lifecycle of a contract — from review to approval to execution to renewal — involves a lot of departments, and those departments often don’t have access to the same systems. Businesses that implement a transparent contract management process compress their time to revenue, mitigate risks by having fewer contractual exceptions, and increase customer satisfaction.

A contract lifecycle management (CLM) solution gives you complete control and visibility of your contracts, from review to approval to execution to renewal. The best CLM solutions simplify the submission, review, approval and management of contracts in one easy to use tool. No longer will your team members have to search their inbox or hard drive for the latest version or keep an Excel spreadsheet to manage their contracts.

Which features should you be looking for when considering various CLM solutions?

Five Must-Have Features of a Cutting-Edge Contract Lifecycle Management Solution

  1. Central Repository – A central location for all contract drafts, notes and communication is a must-have for a robust CLM system.
  2. Unified Intake Process – A simple intake form unifies the process and ensures the same process is followed each and every time. Depending on the drop down fields that are selected (i.e. contract value amount, location, etc.), workflow can be assigned to the appropriate team member or attorney for review.
  3. E-sign Capabilities – Users can electronically sign contracts and manage them in one easy-to-use tool.
  4. Usability – A tool is only good if your legal and business users “actually” use it. Having a user-friendly interface gives your team the information they need quickly and requires almost no training.
  5. Notifications – A comprehensive contract management system sends proactive alerts as the contract progresses through its lifecycle. This is critical as it can be configured to send alerts to all team members involved.

In the not-so-distant past, CLM may have been a major headache for everyone involved. On the bright side, the times have changed, and so should you. Start checking out the finest CLM solutions – the ones that will have your team thanking you for making their lives easier.

Onit to Exhibit at 29th Annual All Hands Meeting in Santa Clara

Posted on October 16, 2017 by - Company News and Events

Onit is pleased to announce we will be exhibiting at the 29th Annual All Hands Meeting in the Santa Clara Convention Center on October 17-18.

The All Hands Meeting is a unique, multifaceted and affordable annual event tailored to the special needs of in-house professionals whose companies rely upon intellectual property.  Scores of cutting-edge CLE presentations address the spectrum of legal, regulatory and ethical issues this community faces on a daily basis. Attendees can browse exhibits about the latest products and services to increase their productivity and effectiveness. And, as part of the largest gathering of its kind, attendees have abundant opportunities to meet and connect with similar professionals in a comfortable, enjoyable setting.

This special CLE conference is open to general and staff counsel in corporate legal departments and to other in-house managers, professionals and paraprofessionals such as patent agents, licensing executives, HR professionals, privacy professionals, contracts managers and paralegals.

We hope you’ll join us, and we look forward to seeing you there. Stop by our booth to learn about our legal solutions – enterprise legal management, contract management, e-billing, matter management, legal service requests, legal holds, etc.

Arguments for Legal e-Billing

Posted on October 15, 2017 by - Enterprise Legal Management

The use of technology within in-house legal departments is increasingly catching up with the IT that has been available to the lawyers in larger external law firms for some time. This is particularly true of international firms with solid bases in the US or UK, where a significant percentage of fee income goes toward leading-edge IT systems. These solutions include such business applications as Document/Records Management, Knowledge Management, Matter Management, Litigation Support/eDiscovery, Cost Tracking, Resource Planning, and Advanced Data Analytics. This extends to the latest technology trends, including using Machine Learning and AI (Artificial Intelligence) in document drafting, contract comparison, and due diligence. These systems are increasingly available to lawyers and support staff in the office and increasingly “on the move” or working remotely.

Corporate Legal Operations is now becoming a significant focus, and these applications are increasingly available to in-house lawyers with the strategic vision to deploy them efficiently and effectively. One key area to look at is that of e-billing (electronic invoicing) which is not just the provision of a legal bill as a PDF but a file of structured billing data – broken down into individual line items – enabling in-house lawyers to gain a considerable amount of added value from this cost and expenses data.

BACKGROUND OF E-BILLING

Like many legal technology systems, e-billing began in the US in the mid-1990s. The interest in the UK in e-billing began in 2003 when UK branches of US insurance and finance organizations started demanding such functionality from their regional law firms, which led US e-billing solution vendors to set up offices in the UK. Over the past decade, many e-billing projects have been undertaken, with several law firms successfully e-billing their largest clients to millions of pounds per year. In terms of market penetration, estimates put around 90% of repetitive litigation work is now e-billed in the US. Recently, Tim Arvidson (Director of Accounting and Billing at Hawkins Parnell) reported that many mid-sized US firms collect around 70% of annual revenue via e-bills.

While the UK is not yet at this level, e-billing currently accounts for 15-20% of the total volume of bills issued by the largest law firms in the UK market. With e-billing clients being among these firms’ largest and most important clients, this typically equates to approximately 25% of total revenue.

BENEFITS OF E-BILLING

What is the driver for legal e-billing, and what returns do corporate legal departments expect e-billing to deliver? Conventionally an e-billing implementation has been driven by a desire to control external legal spend but to realize other non-financial and unplanned benefits. The older “traditional” e-billing solutions have delivered some real benefits, such as:

  • Clarity, consistency, and transparency in the billing of legal services
  • Compliance with the corporate legal department’s billing rules, e.g., what will the client not pay for?
  • Cost and expense tracking for every matter
  • Access to data analytics and allowing comparisons across all external legal service providers
  • Knowledge of what every external law firm is working on and who instructed them
  • Assisting the decision-making process on which is the best option for undertaking legal work
  • Improving the department’s internal processes – speedier workflow and paper reduction

LIMITATIONS OF CONVENTIONAL E-BILLING

Some of the criticisms leveled at these older e-billing systems are that they are very cumbersome, if not “clunky,” and do not sit well with the current trend in IT for software to require “no installation.” Furthermore, they can only reflect the position “after the event,” i.e., the legal bill goes to the client. Other negative comments often made are that the e-billing vendors are too “corporate” and are inflexible in their approach. Also, many law firms, especially those not using the large time and billing systems already, cannot produce LEDES files, and e-billing has yet to deliver on the promises often made to clients and law firms.

MODERN LEGAL E-BILLING SOLUTIONS

Over the past few years, new solution providers have come into the market – both in the US and from within the EU. Interestingly some of these, e.g., Onit’s European legal spend management solution BusyLamp eBilling.Space, have been founded by lawyers who realized that many clients (and law firms) were resisting the more “traditional” e-billing solutions. These new solutions bring a fresh perspective to legal spend management and utilize tools and techniques that are breaking ground in the delivery of IT services. While not all products have these features, they employ many, including ease of set-up, use of AI for the bill review process, and a high degree of collaboration – allowing legal departments to review cost and expense data in the pre-billing stages of a matter. They also offer a low cost of ownership, integration with other legal department applications, and support for a wide range of business processes from RFP and budgeting through billing to a comprehensive management information and reporting suite.

MAKING THE BUSINESS CASE FOR E-BILLING

Quite rightly, in-house departments want to know the return on investment (ROI) of e-billing solutions and whether they can measure it. (BusyLamp has a whole paper dedicated to making the business case for legal e-billing) Several examples of what has been achieved in terms of in-house departments getting a positive financial return. Most of these results arise from such billing practices as eliminating duplicate time entries, removing “block” billing, ensuring utilization of the right resources, and minimizing the possibility of erroneous charge-out rates. The fact that external lawyers know that the billing data is under closer scrutiny often improves the accuracy and ensures more prompt time recording.

Further non-financial benefits can arise from an e-billing implementation. We know that e-billing helps form closer ties between law firms and in-house, adds value to the relationship, and makes client/law firm meetings more productive. When both parties have access to more accurate billing information, it reduces potential conflicts, allows the law firm to provide more than just basic billing data, and can assist in discussions about alternative charging models. Indeed e-billing is not just for charging billable hours but can support various billing models – including fixed fee, retainer, and value-based pricing.

E-BILLING DATA SECURITY AND DATA PROTECTION

Buyers and users of e-billing systems need to ensure that the vendor understands and complies with all Data Protection regulations and has a high-security rating for their data storage and communications functions. As legal data is especially sensitive, providers must have high data protection standards to ensure privacy and security. The GDPR and other regulations already set those high standards, but providers should look to go “above and beyond” to secure these top-notch privacy standards in the future. Read our handy checklist of legal tech security considerations.

SECURING A SUCCESSFUL E-BILLING PROJECT

The successful implementation of an e-billing solution requires a serious approach from all parties, the in-house team, the law firms, and the solution provider – with the right level of resources to bring the “buy-in” to the project. Even the best application cannot deliver the right results without the people who use it applying the appropriate effort. Finally, it is fundamentally important to choose the right provider. We know that modern e-billing vendors are gaining new business and winning customers from established providers. Indeed, clients must decide which e-billing solution offers the best mix of usability, service, IT security, project experience, and price TODAY. It is also essential to talk to existing customers and not only rely on the statements of the respective salesperson.

Request a demo of BusyLamp eBilling.space today. 

ARGUMENTE FÜR LEGAL E-BILLING 

Posted on October 15, 2017 by - Enterprise Legal Management

Der Einsatz von Software in den internen Rechtsabteilungen holt zunehmend die IT ein, die den Anwälten in den größeren externen Kanzleien seit einiger Zeit zur Verfügung steht. Dies gilt insbesondere für die internationalen Kanzleien mit großen Standorten in den USA oder im Vereinigten Königreich, wo seit vielen Jahren ein erheblicher Prozentsatz der Einnahmen in modernste IT-Systeme, wie Legal e-Billing, investiert wird. Zu diesen Lösungen gehören Geschäftsanwendungen wie Dokumenten-/Auftragsmanagement, Wissensmanagement, Matter Management, Litigation Support/eDiscovery, Kostentracking, Ressourcenplanung und Datenanalyse. Dies wird nun auf die neuesten Technologietrends ausgeweitet, einschließlich der Verwendung von Machine Learning und künstlicher Intelligenz (KI) in den Bereichen Dokumentenerstellung, Vertragsvergleich und Due Diligence. Die Systeme stehen Anwälten und Support-Mitarbeitern zunehmend zur Verfügung, sowohl im Büro als auch „unterwegs“ oder bei der Remote-Arbeit. 

Corporate Legal Operations wird zunehmend zu einem wichtigen Schwerpunkt, wobei die Anwendungen von Unternehmensjuristen auf effiziente und effektive Weise eingesetzt werden. Ein wichtiger Bereich ist die elektronische Rechnungsstellung (Legal e-Billing), bei der es sich nicht nur um die Bereitstellung einer Rechnung im PDF-Format handelt, sondern um eine Datei mit strukturierten Rechnungsdaten und gleichzeitig geringem Detaillierungsgrad. Aus diesen Kosten- und Ausgabendaten können Inhouse-Anwälte einen enormen Mehrwert ziehen. 

Wie viele andere Systeme der Legal Software wurde auch e-Billing Mitte der 1990er Jahre in den USA eingeführt. Das Interesse des Vereinigten Königreichs an Legal e-Billing begann 2003, als britische Niederlassungen von US-amerikanischen Versicherungs- und Finanzunternehmen begannen, solche Funktionen von ihren regionalen Anwaltskanzleien zu verlangen. Dies führte dazu, dass US-amerikanische Anbieter von e-Billing-Lösungen Niederlassungen in UK eröffneten. In den letzten zehn Jahren wurden zahlreiche e-Billing-Projekte durchgeführt, wobei eine Reihe von Anwaltskanzleien ihren größten Kunden erfolgreich elektronische Rechnungen im Wert von mehreren Millionen Pfund pro Jahr stellen. Was die Marktdurchdringung anbelangt, so wird geschätzt, dass in den USA inzwischen bis zu 90 % der wiederkehrenden Rechtsstreitigkeiten auf elektronischem Wege abgerechnet werden. Kürzlich berichtete Tim Arvidson (Director of Accounting and Billing bei Hawkins Parnell), dass in vielen mittelgroßen US-Kanzleien etwa 70 % der jährlichen Einnahmen über elektronische Rechnungen erzielt werden. 

Im Vereinigten Königreich ist dieses Niveau zwar noch nicht erreicht, doch machen elektronische Rechnungen derzeit 15-20 % des Gesamtvolumens der von den größten Anwaltskanzleien auf dem britischen Markt ausgestellten Rechnungen aus. Da die Kunden von Legal e-Billing meist zu den größten und wichtigsten Auftraggebern dieser Kanzleien gehören, entspricht dies in der Regel etwa 25 % der Gesamteinnahmen. 

Was also ist die Motivation von Legal e-Billing, und welchen Nutzen erwarten sich die Rechtsabteilungen der Unternehmen davon? In der Regel wurde die Einführung der e-Billing-Lösung von dem Wunsch angetrieben, die externen Rechtskosten zu kontrollieren, aber es wurden auch andere, nicht finanzielle und ungeplante Vorteile realisiert. Die älteren „traditionellen“ e-Billing-Lösungen haben einige echte Vorteile gebracht, wie z. B: 

  • Übersichtlichkeit, Konsistenz und Transparenz bei der Abrechnung von Rechtsdienstleistungen 
  • Einhaltung der Abrechnungsregeln der Rechtsabteilung des Unternehmens, z. B.: Wofür wird der Klient nicht zahlen? 
  • Tracking der Kosten und Ausgaben für jede Matter 
  • Möglichkeit von Data Analytics, die Vergleiche zwischen allen externen Rechtsdienstleistern ermöglichen 
  • Kenntnis darüber, woran jede externe Anwaltskanzlei arbeitet und wer sie beauftragt hat 
  • Unterstützung bei der Entscheidungsfindung, welche die beste Option für die Durchführung von Rechtsarbeit ist 
  • Verbesserung der internen Prozesse der Abteilung, im Sinne von Beschleunigung der Arbeitsabläufe und Reduzierung des Papieraufkommens 

GRENZEN DES KONVENTIONELLEN E-BILLINGS 

Einige der Kritikpunkte an diesen älteren E-Billing-Systemen sind, dass sie sehr umständlich, wenn nicht gar „klobig“ sind und nicht dem aktuellen Trend in der IT-Branche entsprechen, wonach Software „keine Installation“ erfordert. Außerdem können sie nur den Stand der Dinge „im Nachhinein“ wiedergeben, d. h. die Rechnung wurde bereits erstellt und an den Kunden geschickt. Andere Nachteile, die häufig festgestellt wurden, sind, dass die e-Billing-Anbieter zu unflexibel in ihrem Ansatz sind und viele Anwaltskanzleien, vor allem diejenigen, die nicht bereits die großen Zeit- und Abrechnungssysteme nutzen, nicht in der Lage sind, LEDES-Dateien zu erstellen. E-Billing habe die Versprechen, die sowohl den Mandanten als auch den Anwaltskanzleien oft gemacht wurden, nicht erfüllt. 

In den letzten Jahren sind neue Softwareanbieter auf den Markt gekommen – sowohl in den USA als auch in der EU. Interessanterweise wurden einige von ihnen, wie z.B. BusyLamp, von Anwälten gegründet, die erkannten, dass sich viele Kunden (und Kanzleien) gegen die „traditionelleren“ e-Billing-Lösungen sträubten. Diese neuen Lösungen bieten eine neue Perspektive für die Verwaltung von Rechtskosten und nutzen Werkzeuge und Techniken, die bei der Bereitstellung von IT-Dienstleistungen bahnbrechend sind. Auch wenn nicht alle Produkte über diese Funktionen verfügen, so nutzen sie doch eine Reihe von ihnen, darunter die einfache Einrichtung, den Einsatz von KI für die Rechnungsprüfung und ein hohes Maß an Zusammenarbeit, das es den Rechtsabteilungen ermöglicht, Kosten- und Ausgabendaten in der Vorabrechnungsphase einer Matter zu überprüfen. Sie bieten außerdem niedrige Betriebskosten, Integration mit anderen Anwendungen der Rechtsabteilung und Unterstützung für eine breite Palette von Geschäftsprozessen, von der Ausschreibung (Requests for Proposal oder RFP) und Budgetplanung über die Rechnungsstellung bis hin zu einer umfassenden Informationsmanagement und Reporting Möglichkeit. 

Die internen Abteilungen wollen zu Recht wissen, wie hoch der Return on Invest (ROI) von E-Billing-Lösungen ist und ob sie diesen messen können. (Wir haben ein ganzes Paper darüber verfasst, wie man den Business Case von Legal Spend Management erstellt.) Es gibt eine Reihe von Beispielen dafür, wie interne Abteilungen eine positive finanzielle Rendite erzielt haben. Die meisten dieser Ergebnisse ergeben sich aus verbesserten Abrechnungspraktiken wie der Vermeidung doppelter Zeiteinträge, der Beseitigung von „Blockabrechnungen“, der Sicherstellung der richtigen Ressourcennutzung und der Minimierung fehlerhafter Abrechnungssätze. Die Tatsache, dass externe Anwälte wissen, dass die Abrechnungsdaten einer genaueren Prüfung unterzogen werden, verbessert oft die Genauigkeit und sorgt für eine schnellere Zeiterfassung. 

Vieles deutet darauf hin, dass nach der Einführung einer Legal e-Billing-Lösung im Durchschnitt etwa 5-10% der Kosten des externen Anwalts eingespart werden können. Das genaue Einsparpotenzial hängt auch davon ab, wie gut der Mandant vor der Einführung eines e-Billing-Tools im Bereich Legal Spend Management aufgestellt war. Wichtig ist, dass sich aus wirtschaftlicher Sicht die Einführung eines solchen Tools immer lohnt, da die Einsparungen höher sind als die Kosten der Lösung. 

Wie bereits erwähnt, gibt es weitere nicht-finanzielle Vorteile, die sich aus der Einführung von Legal e-Billing ergeben können. Wir wissen, dass die elektronische Rechnungsstellung dazu beiträgt, engere Beziehungen zwischen Anwaltskanzleien und internen Stellen aufzubauen und diese aufzuwerten und es ermöglicht, die Treffen zwischen Mandanten und Anwaltskanzlei produktiver zu gestalten. Es ist allgemein anerkannt, dass der Zugang beider Parteien zu genaueren Abrechnungsinformationen potenzielle Konflikte verringert, der Kanzlei die Möglichkeit gibt, mehr als nur die grundlegenden Abrechnungsdaten zu liefern, und bei Diskussionen über alternative Abrechnungsmodelle hilfreich sein kann. Letztere, wie beispielsweise Modelle nach Festhonorar, Retainer oder Value Based Pricing unterstützt Legal E-Billing genauso wie die Abrechnung nach Stunden. 

E-BILLING DATENSICHERHEIT UND DATENSCHUTZ 

Käufer und Nutzer von E-Billing-Systemen müssen sicherstellen, dass der Anbieter alle Datenschutzbestimmungen versteht und einhält und eine hohe Sicherheitseinstufung für seine Datenspeicherungs- und Kommunikationsfunktionen hat. Dies ist derzeit ein heißes Thema – sowohl wegen der zunehmenden Besorgnis über Datensicherheit und Datendiebstahl als auch wegen der Datenschutz-Grundverordnung vom Mai 2018. Die DSGVO verschärft die bestehenden Verpflichtungen zur Einhaltung des Datenschutzes, einschließlich der Übermittlung personenbezogener Daten außerhalb der EU. Außerdem werden die Strafen für Verstöße gegen die Vorschriften massiv verschärft. Dieses Thema ist zu detailliert, um es hier näher zu behandeln, aber potenzielle Nutzer müssen die bevorzugten Anbieter entsprechend recherchieren. Lesen Sie hierzu unsere praktische Inhouse Legal Tech-Checkliste für Datensicherheit. 

ABSCHLIESSENDE ÜBERLEGUNGEN ZU E-BILLING PROJEKTEN 

Die erfolgreiche Einführung einer e-Billing-Lösung erfordert ein ernsthaftes Vorgehen aller Beteiligten, des internen Teams, der Anwaltskanzleien und des Lösungsanbieters – mit dem richtigen Maß an Ressourcen, die das „Buy-in“ für das Projekt ermöglichen. Es heißt, dass selbst die beste Anwendung nicht die richtigen Ergebnisse liefern kann, wenn die Mitarbeiter, die sie nutzen, nicht den entsprechenden Aufwand betreiben. (Lesen Sie die dreiteilige Serie über die erfolgreiche Implementierung eines Legal Tech-Projekts). 

Schlussendlich ist es von grundlegender Bedeutung, den richtigen Anbieter zu wählen. Wir wissen, dass die modernen E-Billing-Anbieter neue Geschäftsfelder erschließen und den etablierten Anbietern Kunden abwerben – am Ende müssen die Kunden entscheiden, welche E-Billing-Lösung die beste Mischung aus Benutzerfreundlichkeit, Service, IT-Sicherheit, Projekterfahrung und Preis bis HEUTE bietet. Dabei ist es auch wichtig, mit bestehenden Kunden zu sprechen und sich nicht nur auf die Aussagen des jeweiligen Verkäufers zu verlassen.  

Überzeugen Sie sich selbst und fragen Sie noch heute eine Demo an. 

Aus dem englischen Original-Blog übersetzt. 

Onit to Unveil Contract Lifecycle Management Solution at ACC Annual Meeting

Posted on October 13, 2017 by - Company News and Events

Onit is eagerly anticipating the unveiling of its Contract Lifecycle Management (CLM) solution at the 2017 ACC Annual Meeting in Washington, DC. On October 16-18. Here’s a preview of some cutting-edge features of our new offering:

  • A clause library with various clause-level controls to help drive workflow with the legal department
  • Version control and negotiations management to allow multiple parties to manage versions during the redlining process
  • Contract authoring functionality that gives users the ability to build custom contracts with clauses from a clause library

Schedule a 30-minute demo with us to see how this new solution can manage the entire lifecycle of your contracts – from origination to execution, storage, administration and renewal.

We will have a demo room on the exhibit floor. We will also be scheduling demos of our other solutions (e.g. legal e-billing, matter management, legal holds, legal service request, NDA, etc).

The ACC Annual Meeting is the world’s largest educational event for in-house legal counsel. It includes two-and-a-half days of unsurpassed networking opportunities and advanced education seminars focused on leading topics of interest to the in-house counsel professional. This meeting is a rare opportunity to present your products and service to a large, exclusively in-house counsel audience, build relationships and establish your organization as a key supporter of the corporate counsel community.

Onit is Honored to be a Top Houston B2B Software and App Developer

Posted on October 3, 2017 by - Company News and Events

Onit is excited to announce that we are one of only 22 Houston-area companies to be named a 2016 Largest Houston-area B2B Business Software and App Developer. This honor is bestowed once each year by the Houston Business Journal, and is based on annual revenue, percentage of business coming from SaaS, and other factors.

The Houston Business Journal Book of Lists provides listings of the hottest area companies in their fields, and its uses include business research, fundraising and sales prospecting.

Onit secured the #14 spot on the list and is eager to get a top 10 listing next year.

Onit Client David Cambria Recognized as a Global Leader and Influencer in Legal Business

Posted on September 25, 2017 by - Company News and Events

Onit is pleased to announce that David Cambria, Global Director of Operations – Law, Compliance and Government Relations, Archer Daniels Midland, has been recognized as a Global Leader and Influencer in Legal Business by the Association of International Law Firm Networks (AILFN). This prestigious directory published by AILFN covers corporate counsel and legal operations, bar associations, legal networks, consultants, technology companies, LPO, academics, publishers and others. Congratulations, David, for this well-deserved recognition!

To learn more about the 2018 List of Leaders and Influencers, visit the website.

Onit Customer Archer Daniels Midland Company to Speak at Corporate Counsel Forum Europe on September 21

Posted on September 14, 2017 by - Company News and Events

Archer Daniels Midland Company (ADM) will participate in the Corporate Counsel Forum Europe, taking place in Surrey, England September 21-22. David Cambria, General Director of Operations – Law Compliance and Government Relations at ADM will discuss how legal departments can provide “continuous” value to the company, drive operational improvements and allow employees to work in the systems they prefer. The session, “Extracting and Demonstrating Value: People, Process and Automation,” will highlight:

  • The importance of process, workflow and collaboration
  • How a business automation tool solves needs beyond e-billing and matter management
  • Key benchmarks and metrics that drive innovation and transformation in legal operations

A winner of the Transatlantic Legal Department of the Year 2017, Cambria will also discuss how they designed and implemented sustainable processes and systems to “make the complex simple.” He will conclude by discussing their global rollout and how real-time access to legal spend provided predictive metrics and reporting dashboards.

Onit and Archer Daniels Midland Company Honored as Recipients of the 2017 Best Use of Legal Technology Award

Posted on September 13, 2017 by - Company News and Events

The Buying Legal Council, the international trade organization for legal procurement, announced the winners of the first ever Legal Procurement Awards at the 2017 Buying Legal Council North America Legal Procurement conference.

Onit is honored to be the recipient, jointly with Archer Daniels Midland Company of the 2017 Best Use of Legal Technology Award!

Our citation reads as follows:

“In only 6 months, Onit and Archer Daniels Midland were able to significantly improve the company’s legal spend management through efficient and effective use of technology. Together, they developed an enterprise spend management platform that encompassed ADM’s legal spend in 160 countries. Onit and ADM leveraged change management techniques and built alliances with ADM’s shared services organizations. The intention was to ensure and streamline operations and the adoption of the technology. Training and regionalized floor support for the technology helped speed deployment and compliance. The combination of innovation, automated tools, process re-engineering and technology helped ADM save millions of dollars of legal spend. This year’s BEST USE OF TECHNOLOGY AWARD goes to Onit and ADM Congratulations!”

“We wanted to identify and acknowledge best-in class leaders in legal procurement,” says Dr. Silvia Hodges Silverstein, executive director of the Buying Legal Council. “Each award winner and honorable mention not only succeeded in their areas, but surpassed the current status quo of the discipline. These leaders in legal procurement are at the forefront of new developments. We all do well learning from them and getting inspired by them.”

Submissions for the awards were entered in a blind peer-review. All decisions were made unanimous among the judges, all of them legal procurement professionals.

Onit Makes the Houston Fast 100 List for Second Consecutive Year

Posted on September 12, 2017 by - Company News and Events

We are excited to announce that Onit has again made the prestigious Houston Fast 100 list. On Friday, November 10, excitement will fill the air at the Houston Fast 100 Awards Ceremony as the fastest growing companies eagerly anticipate their ranking.

The Houston Fast 100 is ranked by two-year growth and companies must fulfill these qualifications:

  • All of the companies on the list are headquartered within the ten-county Houston metropolitan area and have been doing business for a minimum of five years.
  • A company must have been in business for a minimum of 5 years — as of the close of its most recent completed fiscal year — and cannot be a franchise or a public company.
  • A company that has earned at least $1 million in revenue for its most recent, completed fiscal year.
  • The corporate headquarters of the firm must be located within the Houston metropolitan area, which includes the following counties: Austin, Brazoria, Chambers, Fort Bend, Galveston, Harris, Liberty, Montgomery, San Jancinto and Waller.

Click here learn more about the Houston Fast 100 nomination process.