Category: Company News and Events

We are thrilled to announce that we surpassed our goals in 2017, in terms of new opportunities created and customer wins, strategic management hires, and several awards and distinctions. Our phenomenal success in 2016 set the stage for another stellar year in 2017.

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
• Two key management positions were filled

Awards and Other Distinctions

Our company was also 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 Onit 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 Counsel 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

Click here to see the full milestone release.

Now that Legaltech New York is finished, we’re excited to announce that it was an exceedingly fruitful event for Onit. One important part of our experience there was Onit CEO Eric M. Elfman’s interview with the Interviews with Innovators team. In this interview, Eric reveals how Onit is more than just a successful “niche” brand, but how we’ve transformed into a smaller SaaS company with a huge impact.

Eric continues the interview by underscoring how Onit’s software offers smarter workflows and operational efficiencies in a world where these qualities aren’t as common as one would think. He sums it up by explaining just how Onit’s more user-friendly and “natural” environment is appreciated by everyone who is familiar with social media – which includes almost everyone!

To view the video, click here.

Onit had another successful exhibit at Legaltech New York this year. In advance of the show, we managed to secure a number of prospect, investor and partner meetings; all of which kept us busy as bees at our booth in the Cyber Café on the 3^rd floor of the Hilton. We also had a sleek Ducati motorcycle at the booth to validate our “theme” this year – Take control of your destination. By the way, the bike itself was a big draw at the show and received a lot of attention.

Among all the excitement there, we co-presented an emerging technology session with Jaguar Land Rover (JLR). The session was Innovation in the Legal Department: A Case Study in People, Process and Technology at Jaguar Land Rover, and was presented by Onit’s Cole Morgan and JLR’s U.S. General Counsel Anna-Lisa Corrales. They discussed JLR’s partnership with Onit, and how we drove change in the legal department with process efficiencies and technology to better manage legal operations and legal spend. Attendance at the session was beyond our expectations – more than 200 people!

Eric M. Elfman, CEO and founder of Onit, also was featured in an interview with Interviews with Innovators. Eric revealed how Onit is more than just a successful “niche” brand, but a smaller SaaS company with a huge impact. For example, he underscores the fact that Onit’s more user-friendly and “natural” environment is appreciated by everyone who’s familiar with social media – which includes almost everyone!

To view his session on Interviews with Innovators, click here.

With Legaltech New York 2018 currently underway in New York City, now is the perfect time to announce Onit’s newest legal hold solution. Designed with specifications from an industry-leading audit, consulting, tax, and advisory services firm, our enhanced legal hold solution is now more user-friendly, highly repeatable and defensible than ever before.

Our new wizard-based solution takes the user through the entire legal hold process – from hold creation, adding custodians, selection of the preservation notice, reminder schedules, and questionnaires through the highly intuitive and user-friendly Onit interface. The solution also contains a complete log of every activity taking place in the solution at every level of the process. This added level of transparency provides a complete audit trail throughout the legal hold process and allows users to track historical data for every legal hold. Every action in the system is logged on the front end of the system and independently stored; making the process even more defensible. The increased control at the front-end of the system (such as reviewing reminders, building templates, and setting notification schedules) provides an enhanced user experience.

Our enhanced legal hold solution also offers four unique ways to add custodians, again setting Onit apart from other competitors. Now, users can add custodians through bulk import, a multi-select drop down, by department or business unit and lastly by writing in custodians.

Additional new features of the Onit legal hold solution include:

• Custom fields and pick lists that can be added to a legal hold memo
• Custom questionnaires that can be created based on the type of legal hold
• Helper text guiding the user through the legal hold creation process
• A progress status bar indicating where the legal hold is in the creation process (i.e. 1% complete, 50% complete, 75% complete, etc.)
• Preservation notices can ingest values from any number of configured data fields (ex. claimant, claim description, source locations, etc.)
• Existing legal holds can be used as templates for the expeditious creation of future holds
• A legal hold(s) summary report is available within the matter through a printer-friendly single click
• Seamless integrations with existing matter management solutions, human resource information systems, single sign on and Active Directory

To see our press release, click here.

Onit is pumped and ready to go to this year’s Legaltech New York tradeshow! We’re especially excited to attend this pivotal event this year, as we will be co-presenting an emerging technology session with Jaguar Land Rover (JLR) on Wednesday, January 31 from 10:15 a.m. – 11:15 a.m. ET. The session is titled, “Innovation in the Legal Department: A Case Study in People, Process and Technology at Jaguar Land Rover.”

Anna-Lisa Corrales, U.S. General Counsel for JLR and Cole Morgan, VP of of Professional Services for Onit will be discussing the implementation of enterprise legal management (ELM) and the subsequent transformation of JLR’s legal department. Many legal departments spend endless hours on day-to-day tasks that could be handled in seconds with the right enterprise legal management solution. JLR’s story reflects this common dilemma that haunts many legal departments, and how they ultimately solved it.

Anna-Lisa will discuss her partnership with Onit, and how they drove change in the legal department with process efficiencies and technology to better manage legal operations and legal spend. Topics of discussion will include:

• Reasons why JLR needed a premier ELM solution, and why Onit was their partner of choice
• Their successful partnership with Onit in building, testing and deploying e-billing and matter management technology
• How they effectively leveraged IT business partners “early” in the process to realize their implementation goals
• Early results from gaining visibility into their legal spend (i.e. operational and financial results)
• Lessons learned from the selection and implementation process
• Success: The transformation to finally being able to do more legal work than billing and matter management

We hope you can join us in Americas Hall II at 10:15 a.m. ET for our session.

In our first blog of the New Year, we offered a roundup of our favorite solution-related blogs of 2017. We’d like to follow that one up with part two, a compilation of blogs on Onit’s awards and other recognition from 2017. We’ve also included some awards received by Onit clients, in those cases where our technology was a key player in their recognition.

Here they are, starting with most recent:

Onit Ranks #15 on the HBJ Fast 100 List
Onit is honored to be among the top 100 fastest growing companies in Houston. We are excited to announce that Onit ranked #15 on the Houston Business Journal’s Fast 100 list. We attained this high ranking by achieving an incredible 120% growth over the past two years.

Onit a Finalist for the AMA Marketer of the Year Award
Onit is excited to announce that we are an AMA Marketer of the Year finalist! The Marketer of the Year (MOTY) Awards recognize a company’s overall marketing effectiveness compared to peers in the same sector. Entries are open to AMA Houston members and non-members. Companies may enter their own work. Agencies may enter their client’s work on behalf of that Company.

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

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

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

Onit Makes the Houston Fast 100 List for Second Consecutive Year
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.

Onit is Honored to be an Inc. 5000 Fastest-Growing Company
Onit is excited to announce that we made the Inc. 5000 list of fastest-growing companies in America for 2017 for the second consecutive year. Always a thrilling achievement for us, we ranked 949 this year with an astounding three-year growth of 462%. The list recognizes success big and small, and is the most prestigious honor a growing private company can receive. Onit joins the likes of Chobani, Microsoft, Under Armour, GoPro, Lifelock, Method, Zappos and more—each of whom benefitted greatly from the exposure and experience of being listed on the Inc. 5000. To qualify for the Inc. 5000 list, a company must:

Onit Client Archer Daniels Midland Selected as 2017 ACC Value Champion
It is with great pleasure that we announce one of our major clients, Archer Daniels Midland (ADM) was selected as a 2017 American Corporate Counsel (ACC) Value Champion. They are being honored for making a difference, not only in their organization through creativity and value-based legal management skills, but also for affecting change within the legal industry.

Legaltech News Article Features Onit as Key Player in PayPal’s Enterprise Legal Management Implementation
Onit was honored to be a key player in a recent Legaltech News article titled, “Management that Pays: A Look Inside PayPal’s ELM System Implementation.” The genesis of the article was at the 2017 CLOC Annual Legal Operations Institute in Las Vegas, where Onit and PayPal presented a session titled. “Next Generation Enterprise Legal Management (ELM): People. Process. Automation.” The speakers were Lauren Giammona, Director of Operations, Business Affairs & Legal at PayPal, and Eric M. Elfman, founder and CEO of Onit. It was Onit that ultimately provided the legal spend management solution for PayPal.

Onit Client Archer Daniels Midland a Finalist in Prestigious Transatlantic Legal Awards 2017
Onit is pleased to announce that one of our major clients, Archer Daniels Midland, is a finalist in the prestigious Transatlantic Legal Awards 2017. With assistance from Onit, ADM designed and implemented sustainable processes and systems to “make the complex simple.” ADM’s global rollout allowed real-time access to legal spend and offered predictive metrics and reporting dashboards. Overall, the company reduced its outside legal spend by more than one-third and reduced volatility by using fixed fees and other alternative fee arrangements.

Onit just got even better, and is very excited about its new user interface (UI). Built on ReactJS and leveraging the speed of JavaScript, this UI uses a new way of rendering web pages, making them highly dynamic and responsive to user input. It promises not only a better user experience, but also an incredible timesaver for developers allowing them to work faster and save significant time by reusing code components.

Some of the key features of ReactJS library include:

• A more responsive, modern and intuitive design
• An improved user experience of transaction creation and editing workflows
• A more efficient site navigation and grid filtering
• The capability to load pages faster
• The ability to more quickly fix bugs, make upgrades, and spin up new features to support our customer’s business process needs

This newest addition to Onit’s software arsenal will also accelerate user adoption, improve usability and increase productivity. By focusing on the user experience for all team members, the interface is more intuitive and delivers faster access to content when necessary. An additional feature of the open-source library is ongoing development among its users allowing open contributions.