Enterprise legal management

Onit's Commercial Portfolio Debuts 2023 Customer Stewardship Report Highlighting Increased Product and Services Investment, Strong Customer Impact

Retrieved on: 
Thursday, February 1, 2024
Intelligence, Guideline, Senior, Contract lifecycle management, Enterprise legal management, Machine learning, CLM, Investment, Artificial intelligence, ELM, CSAT

HOUSTON, Feb. 1, 2024 /PRNewswire/ -- Onit, the leading provider of legal workflow solutions, today announced its 2023 Customer Stewardship Report, detailing significant milestones that its commercial portfolio, which includes SimpleLegal for Enterprise Legal Management (ELM) and ContractWorks for Contract Lifecycle Management (CLM), has achieved over the past year. Highlights from 2023 include 103 product releases, a deeper investment in customer experience initiatives by delivering additional service options, and improved results and time savings for customers through artificial intelligence and machine learning.

Key Points: 
  • "We're excited about the progress we've made over the past year," said Melanie Shafer, Senior Vice President, Customer Experience.
  • Onit's commercial business, focused on servicing the mid-market segment, continuously invests in growing its product capabilities and services.
  • The commercial portfolio is well known for its ease of use, scalability, and success in delivering value quickly - just 95 days to value for customers after purchase.
  • "In 2024, Onit's commercial customers can look forward to additional investments," stated Mark Weidick, President, Onit Commercial Business.

Onit Names Michael Farlekas as Chief Executive Officer

Retrieved on: 
Tuesday, January 16, 2024
Enterprise legal management, Contract lifecycle management, Blue Yonder, E2open, Marketing, Automation, Growth, Management

HOUSTON, Jan. 16, 2024 /PRNewswire/ -- Onit, Inc. announced that longtime software executive Michael Farlekas will join the company as Chief Executive Officer, effective March 1, 2024. Onit is the leading provider of legal workflow solutions for enterprise legal management, contract lifecycle management, and business process automation. Current CEO and co-founder Eric Elfman will move to the role of Vice Chairman of the Board of Directors.

Key Points: 
  • HOUSTON, Jan. 16, 2024 /PRNewswire/ -- Onit, Inc. announced that longtime software executive Michael Farlekas will join the company as Chief Executive Officer, effective March 1, 2024.
  • Onit is the leading provider of legal workflow solutions for enterprise legal management, contract lifecycle management, and business process automation.
  • "I am honored to join Onit and to have the opportunity to work with our customers and talented team," said Mr. Farlekas.
  • "We are delighted to welcome Michael to the Onit team," said Mike Velcich, Partner at K1 Investment Management.

Onit Names Michael Farlekas as Chief Executive Officer

Retrieved on: 
Tuesday, January 16, 2024
Enterprise legal management, Contract lifecycle management, Blue Yonder, E2open, Marketing, Automation, Growth, Management

HOUSTON, Jan. 16, 2024 /PRNewswire/ -- Onit, Inc. announced that longtime software executive Michael Farlekas will join the company as Chief Executive Officer, effective March 1, 2024. Onit is the leading provider of legal workflow solutions for enterprise legal management, contract lifecycle management, and business process automation. Current CEO and co-founder Eric Elfman will move to the role of Vice Chairman of the Board of Directors.

Key Points: 
  • HOUSTON, Jan. 16, 2024 /PRNewswire/ -- Onit, Inc. announced that longtime software executive Michael Farlekas will join the company as Chief Executive Officer, effective March 1, 2024.
  • Onit is the leading provider of legal workflow solutions for enterprise legal management, contract lifecycle management, and business process automation.
  • "I am honored to join Onit and to have the opportunity to work with our customers and talented team," said Mr. Farlekas.
  • "We are delighted to welcome Michael to the Onit team," said Mike Velcich, Partner at K1 Investment Management.

Onit Introduces Generative AI-Powered Contract Management Software that Empowers Users to Maximize Their Impact

Retrieved on: 
Thursday, November 9, 2023
Spend, LLM, Microsoft, Synthetic media, Generative, Whitehouse, Enterprise legal management, Origanum onites, ELM, AI, Executive Suite, Excellence, Risk management, Online shopping, Catalysis

HOUSTON, Nov. 9, 2023 /PRNewswire/ -- Onit, the leading provider of legal workflow solutions, today announced Onit Catalyst for Contracts, a ground-breaking software application that intelligently transforms the contract lifecycle using Generative AI and Large Language Models (LLMs) to enhance pre-signature and post-signature contract activities. Businesses can now more rapidly review and extract contract information, confirm compliance with the most nuanced issues, and find and automatically action more issues.

Key Points: 
  • Businesses can now more rapidly review and extract contract information, confirm compliance with the most nuanced issues, and find and automatically action more issues.
  • "Onit Catalyst for Contracts further accelerates the digital transformation of legal-related business processes," Onit AI Center of Excellence Managing Director Nick Whitehouse says.
  • "Our new contract chat feature empowers users to quickly summarize, explain, review, rewrite, and advise on contracts confidently," Whitehouse says.
  • To learn more about Onit Catalyst for Contracts and the new ELM reporting templates, please contact us HERE.

Increasing Usage of Cloud Based Solutions to Steer Digital Transaction Management Market Past US$ 83.25 Billion by 2032

Retrieved on: 
Tuesday, September 20, 2022
Software, Workflow, Adoption, Digital, Enterprise legal management, NEW, Organization, Contract, Acquisition, Health, Trusona, Growth, Government, Technology, BFSI, Solution, Cloud computing, Research, ELM, CLM, DTM, CAGR, Retail, Video game, Online shopping, Cryptocurrency, Sales, Mobile phone

NEW YORK, Sept. 20, 2022 /PRNewswire/ -- The global digital transaction management market is estimated to reach a valuation of US$ 10.01 Billion in 2022, exhibiting growth at a CAGR of 25% during the forecast period (2022-2032). Sales in the market are expected to total around US$ 93.25 billion by 2032.

Key Points: 
  • Rising usage of digital transaction management solutions across various industries including BFSI, retail, IT & telecom, government, and healthcare is a key factor driving growth in the global market.
  • Digital transaction management is a cloud computing service that allows businesses to digitally manage document-based transactions.
  • Based on solutions, the electronic signatures segment dominated the digital transaction management market with more than 38.4% of market revenue in 2021.
  • Increasing demand for digital transaction management (DTM) solutions for better customer experience and a reduction in transaction times will propel the sales.

Increasing Usage of Cloud Based Solutions to Steer Digital Transaction Management Market Past US$ 83.25 Billion by 2032

Retrieved on: 
Tuesday, September 20, 2022
Software, Workflow, Adoption, Digital, Enterprise legal management, NEW, Organization, Contract, Acquisition, Health, Trusona, Growth, Government, Technology, BFSI, Solution, Cloud computing, Research, ELM, CLM, DTM, CAGR, Retail, Video game, Online shopping, Cryptocurrency, Sales, Mobile phone

NEW YORK, Sept. 20, 2022 /PRNewswire/ -- The global digital transaction management market is estimated to reach a valuation of US$ 10.01 Billion in 2022, exhibiting growth at a CAGR of 25% during the forecast period (2022-2032). Sales in the market are expected to total around US$ 93.25 billion by 2032.

Key Points: 
  • Rising usage of digital transaction management solutions across various industries including BFSI, retail, IT & telecom, government, and healthcare is a key factor driving growth in the global market.
  • Digital transaction management is a cloud computing service that allows businesses to digitally manage document-based transactions.
  • Based on solutions, the electronic signatures segment dominated the digital transaction management market with more than 38.4% of market revenue in 2021.
  • Increasing demand for digital transaction management (DTM) solutions for better customer experience and a reduction in transaction times will propel the sales.

LexisNexis Announces Acquisition of Contract Lifecycle Management Solution Parley Pro

Retrieved on: 
Monday, May 9, 2022
Spend, Cloud, ELM, Ecosystem, RELX, Contract lifecycle management, NEW, REN, Contract, Enterprise legal management, New York Stock Exchange, Organization, Workflow, Group, Solution, CEO, CLM, REL, Lexis, Risk, Acquisition, Parley, Sales, Risk management, LexisNexis

NEW YORK, May 9, 2022 /PRNewswire-PRWeb/ -- LexisNexis Legal & Professional, a leading global provider of information and analytics, today announced the acquisition of Parley Pro, a top Contract Lifecycle Management (CLM) solution, to complement LexisNexis' industry-leading Enterprise Legal Management (ELM) platform, CounselLink.

Key Points: 
  • Parley Pro strengthens CounselLink's ELM platform by providing real-time contract collaboration, management, and negotiation; actionable analytics; and integrated, end-to-end automation, reducing contracting time by up to 40%
    NEW YORK, May 9, 2022 /PRNewswire-PRWeb/ -- LexisNexis Legal & Professional , a leading global provider of information and analytics, today announced the acquisition of Parley Pro , a top Contract Lifecycle Management (CLM) solution, to complement LexisNexis' industry-leading Enterprise Legal Management (ELM) platform, CounselLink .
  • Founded in 2015, Parley Pro enables efficient and effective contract request, drafting, negotiation, signature, and post-signature management via a secure, cloud-based platform.
  • Parley Pro is consistently voted as the best contract management software and has a rich ecosystem of third-party partners.
  • Parley Pro is a secure, cloud-based, enterprise-grade, end-to-end contract lifecycle management platform that pioneered digital negotiation technology.

Scanmarket A/S expands enterprise contract lifecycle and third-party risk management with the acquisition of leading software vendor Symfact AG

Retrieved on: 
Thursday, October 28, 2021
Spend, Enterprise legal management, OCR, COVID-19, Case management, Compliance, Contract lifecycle management, Automation, Technology, Contract, Risk assessment, Machine learning, CLM, Risk, CEO, Optics, Artificial intelligence, Solution, Acquisition, Ownership, GRC, Risk management, AI, Medical device, Retail

AARHUS, Denmark, Oct. 28, 2021 /PRNewswire-PRWeb/ -- Scanmarket A/S is pleased to announce the acquisition of Symfact AG of Switzerland, an enterprise Contract Lifecycle Management (CLM) and Third-Party Risk Management software company specializing in artificial intelligence (AI) and machine learning applied to the legal market.

Key Points: 
  • AARHUS, Denmark, Oct. 28, 2021 /PRNewswire-PRWeb/ -- Scanmarket A/S is pleased to announce the acquisition of Symfact AG of Switzerland, an enterprise Contract Lifecycle Management (CLM) and Third-Party Risk Management software company specializing in artificial intelligence (AI) and machine learning applied to the legal market.
  • "Symfact is uniquely positioned in the Enterprise Legal Management market with solid expertise within CLM, strengthened by its additional capabilities within Legal Entity and Risk Management," she adds.
  • Scanmarket is an expert in Source-to-Contract (S2C) solutions, while Symfact brings all the capabilities surrounding Contract Lifecycle Management including Third-Party Risk Management.
  • Our single and unique software, across multiple contract and compliance domains, allows businesses to deal with several contract areas as well as related governance, risk, and compliance.

doeLEGAL's Ascent eDiscovery Services Now Include Ipro's Active Learning Solution

Retrieved on: 
Thursday, August 19, 2021
Analysis, Discovery, CEO, Authorized Program Analysis Report, Efficiency, File, Early case assessment, Review, ADD, Tally, Partnership, Active learning, Zathura (document viewer), Active, Enterprise legal management, Technology, Risk management, Office supplies

WILMINGTON, Del., Aug. 19, 2021 /PRNewswire/ --doeLEGAL includes Ipro's Active Learning into its latest Ascent eDiscovery services to add increased value for clients.

Key Points: 
  • WILMINGTON, Del., Aug. 19, 2021 /PRNewswire/ --doeLEGAL includes Ipro's Active Learning into its latest Ascent eDiscovery services to add increased value for clients.
  • Law firms and corporate legal departments rely onAscent eDiscovery services to manage their litigation lifecycle through theeDiscovery phases.
  • Ipro's ADD Review solution is a comprehensive eDiscovery suite with rich functionality capable of easily handling eDiscoverytasks.
  • The Active Learning component in Ascent eDiscoveryallowsaccess to the robust advanced enhancements.

Radiology Partners Goes Live with Onit Enterprise Legal Management and Legal Service Requests in 90 Days

Retrieved on: 
Tuesday, July 20, 2021
Medical imaging, Radiology, Enterprise legal management

By leveraging Onits technology and working with Consilio, Radiology Partners went live in just three months.

Key Points: 
  • By leveraging Onits technology and working with Consilio, Radiology Partners went live in just three months.
  • Radiology Partners is the largest radiology practice in the U.S., serving more than 3,400 hospitals and other health care facilities across the nation.
  • The collaboration was the vision of Radiology Partners Chief Legal Officer Joseph Schohl, who identified an opportunity to increase efficiency and insight for the corporate legal department.
  • Onit and Consilio had our enterprise legal management and legal service request software live in 90 days, allowing us to quickly consolidate our legal information onto one system and create valuable operational efficiencies.