Category: Company News and Events

Onit Client Archer Daniels Midland a Finalist in Prestigious Transatlantic Legal Awards 2017

Posted on May 11, 2017 by - Company News and Events

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.

The Transatlantic Legal awards recognize excellence in handling transatlantic matters across the key areas of corporate, finance and disputes, as well as highlighting law firm and legal department innovation, commitment to pro bono, outstanding transatlantic strategy, and in-house leaders. The judging panel is made up of senior ALM journalists, Chris Johnson, chief global correspondent, business of law at The American Lawyer and Law.com; and Georgina Stanley and Gina Passarella, editors of Legal Week and The American Lawyer respectively.

The awards gala will take place on Thursday, June 8, 2017 at One Whitehall Place, London SW1, United Kingdom.

Onit and PayPal to Present at CLOC Corporate Legal Operations Institute

Posted on April 28, 2017 by - Company News and Events

Join us for our discussion, “Next Generation Enterprise Legal Management (ELM): People. Process. Automation” at the CLOC Annual Legal Operations Institute on May 9 from 3:15 – 4:15 p.m. in Las Vegas.

For nearly two decades, enterprise legal management (ELM) has focused on transactional solutions, like matter management and spend management. Many legal departments find themselves struggling under the weight of legacy technologies that simply do not work or are expensive to upgrade.

The 21st century, version 3.0, of ELM is about business process automation. ELM should not simply be data capture but a true system of engagement that underlies and supports all the key processes of the law department such as legal spend management, contract management, legal service requests, NDAs, legal holds and much more.

PayPal and Onit 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 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

Speakers

  • Lauren Giammona, Director of Operations, Business Affairs & Legal, PayPal 
  • Cole Morgan, VP, Enterprise Legal Management Solutions, Onit

About Lauren Giammona:

Lauren Giammona is Director of Operations, Business Affairs & Legal at PayPal, Inc.  In this role, she oversees operations for PayPal’s Business Affairs function, which includes Legal, Government Relations, Human Resources, Corporate Communications, Social Innovation, and Aviation.  Her areas of responsibility include budgeting/financial planning, outside counsel/vendor management, tools and technology, knowledge management, strategic planning and cross-functional support for the broader organization reporting into Louise Pentland, EVP, Business Affairs & Chief Legal Officer. Ms. Giammona focuses on providing critical infrastructure which enables the organization to meet its business priorities effectively and efficiently.

About Cole Morgan: 

Cole Morgan has more than 20 years of management experience in the legal technology and legal operations sectors. In his current role with Onit, he works with corporate legal department clients to optimize service delivery and develop strategies that define the value of legal services within the corporation.

We’re looking forward to hosting this engaging session and hope you’re able to attend. Click here for a complete list of planned sessions for the May 2017 Institute. Check out our Events Page for more information about upcoming tradeshows we’ll be attending near you.

Onit Appoints York Richards as New Chief Financial Officer

Posted on April 21, 2017 by - Company News and Events

York brings a wealth of software industry finance and accounting experience to Onit and his background will be instrumental in the company’s growth. York is a seasoned executive with extensive experience managing finance organizations for high-growth companies, most recently serving as CFO at Riversand Technologies, Inc. where he was responsible for overall financial operations and reporting.

He brings remarkable skills to our finance and accounting team and will be instrumental in providing the finance vision, strategy and leadership to help the company get to the next level.

As CFO, York will be responsible for ensuring the finance organization can enable the company to drive growth, capitalizing on the accelerating demand for software solutions that drive greater efficiency and process automation across a spectrum of global businesses.

York comes to us with more than 15 years of finance and operations experience and has held CFO positions at several privately held companies in the Internet and technology industries. During his career, he has built large, multi-national finance organizations, completed many strategic acquisitions and divestitures, raised capital in debt and equity markets and managed multiple shareholder exits.

His background includes serving as the CFO of Idera, Inc. where he designed and implemented back office operations including accounting, finance, tax, human resources, legal, IT and maintenance renewals. In addition, York managed the development and execution of the Sarbanes-Oxley compliance program for BMC Software. During his career, he held a number of senior financial positions and served as director of finance of NetIQ Corporation, controller at PentaSafe Security Technologies and senior auditor of Price Waterhouse Coopers.

York holds a master’s degree in science and a bachelor’s degree in business administration from Texas A&M University.

We’re thrilled to have York join the executive management team. Click here to view the full press release.

Onit’s CEO to Judge the 2017 Rice University Business Plan Competition

Posted on March 31, 2017 by - Company News and Events

Onit’s CEO and President Eric M. Elfman will serve as a judge for the 2017 Rice University Business Plan Competition. Scheduled for April 6-8, the program is known as the world’s richest and largest graduate-level business plan competition.

This will be the 16th year that Elfman has judged the competition, which is hosted by the Rice Alliance for Technology and Entrepreneurship and the Jesse H. Jones Graduate School of Business. The competition has grown from nine teams competing for $10,000 in prize money in 2001 to 42 teams from around the world competing for more than $1.5 million in cash and prizes. More than 130 past competitors have gone on to successfully launch their businesses, raising in excess of $600 million in funding.

During the competition, the entrepreneurial teams “pitch” both their business plans and visions to the judges. Each presentation is graded by the judges as if they were venture capital investors themselves. The winner of the competition is the business that the judges would most likely invest in based on the quality of the idea, the strength of the management team and the clarity and persuasiveness of the written plan and oral presentation.

To learn more about the competition, visit http://www.rbpc.rice.edu/

2017 Hyperion Research Enterprise Legal Management Benchmarking Survey

Posted on March 10, 2017 by - Company News and Events

10 Minutes of Your Time Can Benefit a Charity for Life

Hyperion’s Survey Program helps contribute broad and on-going empirical data and analysis to legal operations managers and decision makers about the current trends, activities and best practices you and your peers are most concerned with.

As part their work on the Enterprise Legal Management (ELM) research agenda, Hyperion is currently circulating a benchmarking survey to law department operations managers, analysts and attorneys to gain perspective on their use of ELM technology and their attitudes about a number of legal operations and related functional competencies.

Corporate law departments are in the midst of an active period of transformation. Driven in large part by the new demands on the general counsel, today’s law departments are expected to serve a business function as much as they are traditional legal roles. Since 2010, when Hyperion first endorsed the term Enterprise Legal Management, ELM has become a recognized management discipline and a strategic objective for corporate law departments. Today, ELM and the operational capabilities that comprise it present an acute set of both challenges and opportunities for legal practices worldwide.

This survey is focused on understanding the prevailing trends in legal operations, including values, priorities and investment in Enterprise Legal Management (ELM) capabilities. Hyperion is looking at how legal operations professionals and attorneys are implementing, using and getting the most out of ELM, and what capabilities they value and prioritize most.

But there’s an added incentive in completing their survey. Hyperion Research honors your investment of time with a deeper investment in our communities with their Donations for Data program. For every survey completion they receive, Hyperion will donate $10 to accredited charities benefiting youth and education.

Please click this link to begin the 10 minute survey:  http://www.hgpresearch.com/ELMSurvey

E-Billing, Matter Management and Beyond: 2017 is The Year of Change

Posted on February 6, 2017 by - Business Process Management, Company News and Events

From our many awards and accolades to meeting so many great people at tradeshows and events, Onit had a fantastic 2016. We want to thank all of our valued customers. We appreciate you trusting us to help you with your business process automation needs.

We started last year strong with recognition in Gartner’s February 4, 2016 Market Guide for Enterprise Legal Management Solutions1 report. As stated by Gartner, “purpose-built enterprise legal management solutions can improve legal department efficiency and lower overall enterprise risk.”

Mid-year was also when Onit was recognized by multiple publications for our innovative technologies. Onit was featured in TechnoLawyer NewsWire (TL NewsWire), outlining our Contract Management Suite in an exclusive report.

One of our proudest achievements of 2016 was making the Inc. 500 list. Every year Inc. 500 puts out their ranking and it’s a list we are proud to be a part of for the first time. Onit ranked 387 with three-year growth of 990%.

It was also an incredible honor to be recognized by the Houston Business Journal on both the Fast 100 and Fast Tech list.

We added two major players in the Enterprise Legal Management space to the Onit team. It’s been a pleasure to have both Cole Morgan and Matt DenOuden join the Onit executive team.

All of this hard work helped us raise $8.25 million to expand in 2017. Read more about our big funding news here.

2017 The Year of Change

2017 is already zooming by and we want to make sure your company is running at maximum efficiency. Many corporate legal departments are still using outdated processes and we want to help bring them up-to-date. Whether it’s contract management or legal service requests – we can configure our solutions just for you.

We also want to hear from YOU more this year. Your feedback is vital in making our solutions the best they can possibly be.

Connect with us on social media (Facebook, Twitter, Linkedin) and let us know business process pain points. If you are a current customer that is finding success utilizing Onit’s solutions please share your thoughts with others via a Capterra review. Your engagement means the world to us. We truly love to hear from you!

Onit is the industry leader when it comes to Enterprise Legal Management (ELM). We work hard to consistently innovate our solutions and tailor them to the needs of busy law departments.

Our solutions are flexible, lightweight, and easy-to-use. We’d love to have a one-on-one conversation about how we can help your legal department save time and resources.

Click here to learn more or feel free to reach out and schedule a demo with us.

Onit Achieves Momentous 2016 Milestones in its Pursuit of Revenue Acceleration, Strategic Growth and New Client Wins

Posted on January 31, 2017 by - Company News and Events

Onit announced today that it has achieved significant milestones in 2016, validating the company’s strategic growth plans and corporate vision and further setting the stage for continued success in 2017. These milestones include new capital funding, notable client wins, strategic management hires and prestigious awards and nominations.

“2016 was an impressive year for Onit; our milestone achievements far exceeded our original expectations,” said Eric M. Elfman, CEO and founder of Onit. “Our team’s innovation, drive and dedication to our clients were critical to our growth and success in 2016. Last year’s funding and appointment of key management hires validates our commitment to client-driven innovation and client success,” added Elfman.

Key 2016 Milestones

  • Raised $8.25 million, led by a New York growth equity firm, to fuel its expansion
  • Bookings grew 78% and revenues 75% compared to 2015, significantly exceeding planned growth
  • Pipeline growth of 177%, nearly tripling compared to 2015
  • Client base grew to more than 80 in 2016, an increase of 46% compared to 2015, 32 of which are Fortune 500 companies

Management Team

Onit’s commitment to thought leadership and legal domain expertise was a contributing factor to its aggressive growth with the hiring of two key management positions in 2016. Matt DenOuden joined Onit as the vice president of global sales with nearly 30 years of industry experience and was a seasoned leader at TyMetrix (now part of Wolters Kluwer) for nearly 13 years. He has been on the front lines of the Enterprise Legal Management (ELM) revolution for decades.

Cole Morgan was appointed Vice President of Enterprise Legal Management (ELM) in 2016. With more than 20 years of management experience in the legal technology and legal operations sectors, Cole works with corporate legal department clients to help develop strategies that define the value of legal services within the corporation.

Awards and Nominations

Onit was recognized by various software, legal industry and financial publications and organizations for its innovation, thought leadership and entrepreneurship in 2016. This commitment to its unsurpassed technological excellence and user experience has garnered the company several distinctions in 2016:

  • Ranked #387 on Inc. 500’s Fastest-Growing Private Companies List with three-year revenue growth of 990%
  • Recognized in Gartner’s Market Guide for Enterprise Legal Management Solutions
  • Ranked fifth on the Inc. 5000’s Houston’s Top 10 Fastest Growing Businesses of 2016
  • Ranked #2 on theHouston Business Journal Houston Fast Tech list of 2016
  • Won the Enterprise Champion Award and ranked #8 on the Houston Business Journal Fast 100
  • Nominated by Corporate Counsel Magazine as one of the Best Matter Management Vendors of 2016
  • Recognized by Capterra as a Top 20 Contract Management vendor for four consecutive years

Join us for the In-House Innovates SuperConference and the 28th Annual All Hands Meeting

Posted on November 2, 2016 by - Company News and Events

It’s been a very busy and exciting fall for Onit so far. We’ve had some big funding news and recently attended the ACC Annual Meeting in San Francisco. We’ve met a lot of great people whose corporate legal departments are seeking to automate processes such as e-billing, matter management, legal service requests, legal holds and contract management (to name a few).

Onit is the industry leader in Enterprise Legal Management (ELM) solutions and we’ve spent years developing tools that are easy to implement. Onit will be at two different conferences this month, giving you the chance to ask us about e-billing and matter management offering in person.

Join us November 15-16 for the In-House Innovates SuperConference. We’d love to have you stop by our table and learn more about our legal solutions. This year’s conference will be held in Chicago at the W Chicago City Center. There’s still time to get registered.

Why attend the In-House Innovates SuperConference?

“Now in it’s 16th year, the Annual SuperConference is a legal conference that addresses the current legal issues facing today’s businesses and provides in-house counsel with real-world examples and usable take-aways from speakers and peers to help them do their jobs more efficiently and effectively. SuperConference has continuously offered the highest educational investment within a constructive learning and networking environment. CLE credits will be offered in multiple jurisdictions and IL attorneys receive the benefit of receiving credits. Network with hundreds of peers and legal service providers and hear strategies to tackle corporate legal issues that are top-of-mind concerns and return to your office with practical and useful advice…“

Read more on the official In-House Innovates website for details.

For those of you on the West Coast, Onit will also be attending the 28th Annual All Hands Meeting. This event will be held at the Santa Clara Convention Center on November 16-17. There’s still time to register for Silicon Valley’s signature conference for in-house counsel and other professionals at technology and life science companies.

Why attend the All Hands Meeting?

“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 also 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.”

Check out the official website for more information about the All Hands Meeting.

We hope you are able to join us for either of these two awesome events! If you can’t attend this year but you’d still like to learn more, please schedule a demo with us. We would love to talk to you one-on-one about your legal operation needs and how we can help – click here to schedule a demo.

To learn more about Onit’s ELM solutions, check out our new eBook, “Matter and Spend are Just the Beginning” below.

Join Us in the City by the Bay for the ACC Annual Meeting Next Week

Posted on October 10, 2016 by - Company News and Events

The Onit team is gearing up for the world’s largest gathering of in-house counsel. We hope to see you October 16th -19th at the 2016 ACC Annual Meeting in San Francisco. We are looking forward to meeting everyone and spreading the word about Enterprise Legal Management (ELM).

Onit is the leader in ELM technology and throughout the conference we’ll be located at Booth #402 giving demos. Stop by and say hello! 

We help corporate legal departments keep their businesses running more efficiently. ELM solutions from Onit are lightweight, flexible, and easy to use. Built with more than two decades of experience from industry thought leaders, process efficiency, workflow and collaboration is core to our technology. Our ELM solution lets your legal department:

  • Drive operational improvement easily
  • Create workflows that are unique to your legal and business processes
  • Configure ELM solutions quickly with minimal IT involvement

We’d love an opportunity to talk with you more in-depth about your current automation needs. It’s not too late to attend the conference, get registered here. For details about the specific speaking sessions and potential CLE or ethics credits, click here.

If you’re unable to attend you can view some of the sessions via webcast. We’re also available for one-on-one conversations, click here to schedule a demo. To learn more about Onit’s ELM solutions, check out our new eBook, “Matter and Spend are Just the Beginning” below.

Onit Ranks #2 on Houston Business Journal Fast Tech List

Posted on October 3, 2016 by - Company News and Events

We’ve got another win under our belts! What a great way to head into this busy fall season. Onit is proud to rank #2 on the Houston Business Journal (HBJ) Houston Fast Tech list. Like the Houston Fast 100 List, companies must meet the following criteria to qualify:

  • be headquartered in the Houston area
  • be at least five years old at the close of FY 2015
  • be privately owned and have earned at least $1 million in revenue for the most recent fiscal year

Additionally, companies on the Fast Tech List must be primarily engaged in producing and/or delivering technology products and services.

Click here to subscribe to the Houston Business Journal and see the full list. 

Onit is thrilled to add this accomplishment to the growing list of awards we’ve won in 2016 so far. In addition to the ranking #2 on the Houston Fast Tech list, Onit has received the following awards and acknowledgements in 2016:

Check out our Awards and Recognitions page to read about each award in more detail.

Onit creates tools to help corporate legal departments to maximize efficiency. From Enterprise Legal Management (ELM) to contract management, Onit’s solutions are flexible, lightweight, and easy-to-use. No other ELM vendor approaches legal department operations with “process” as its foundation.

Learn more about how Onit’s can customize solutions just for your corporate legal department. Schedule a demo with us today or download our latest eBook below.