Onit Listed as a Representative Vendor in Two Gartner Market Guide Reports
Onit, Inc., a leading provider of enterprise workflow solutions including enterprise legal management, contract lifecycle management and business process automation, today announced that it was mentioned as a Representative Vendor in Gartner’s 2020 Market Guide for Corporate Legal Spend Management and E–Billing and the Market Guide for Corporate Legal Matter Management (Garter subscription required).
According to Gartner, “The legal matter management market consists of vendors offering technologies to in-house legal departments to facilitate, coordinate and track the delivery of legal tasks and services to the business.”1 Gartner also mentions, “The corporate legal spend management and e-billing market consists of vendors offering technologies to in-house legal departments that accept and process electronic invoice data from third parties. These vendors help to streamline the handling of corporate legal expenses, automating adherence to agreed fee protocols and internal budgets and providing insights on spending trends and legal service provider costs and performance.”2
“We believe this recognition in the Gartner Market Guides is an excellent validation that corporate legal departments appreciate our innovation and commitment to their success. Every day, legal operations professionals rely on Onit to streamline and automate enterprise wide processes, cultivate efficiency and control costs,” said Eric M. Elfman, co-founder and CEO of Onit.
Onit has grown assertively as corporate legal departments continue to purchase and implement its business workflow and business process automation platform and software. This year to date, the company has:
- Released the latest version of its workflow and business process automation platform Onit Apptitude
- Published an Onit Solutions Catalog representing more than 5,500 Apps and 130 solutions built on Onit Apptitude and used by hundreds of thousands of worldwide users
- Launched a successful Contract Lifecycle Management Quick Start Implementation package
- Kicked off its fall series of master classes for legal operations professionals in the U.S. and Europe titled Lean into Legal Ops
- Announced a three-year revenue growth of 640%
In 2019, Onit received a $200 million investment from K1 Investment Management to accelerate global growth and announced the acquisition of SimpleLegal, a modern legal operations management platform that streamlines how corporate legal departments manage their matters, track and interpret spend and collaborate with vendors and law firms.