What Onit Does
Onit serves as an end-to-end solution for enterprise legal management, focusing on areas such as matter management, legal spend management, contract lifecycle management, legal holds, and business process automation. The platform is built to improve efficiency, accuracy, and compliance across all legal operations.
Key Features and Functionality
Enterprise Legal Management
Onit provides a configurable system of engagement for controlling legal operations, encompassing matter management, vendor management, e-billing, and more. This allows legal teams to manage the entire matter lifecycle with powerful collaboration and workflow capabilities.
Contract Lifecycle Management (CLM)
Onit’s CLM leverages generative AI technology, specifically through its Catalyst AI, to automate data extraction from contracts using natural language chat features. This enables the easy addition of custom data fields, ensuring compliance, monitoring performance, and facilitating informed decision-making based on contract data analysis.
Legal Spend Management
The platform offers comprehensive visibility across all legal expenditures, empowering legal departments to be better financial stewards. It includes smart invoice review to automate and enhance invoice review processes, reducing errors and improving financial outcomes.
Legal Holds Management
Onit automates tasks related to legal holds, including custodian notifications, categorization, and approval matrices. The recent integration with Microsoft Purview compliance portal allows for preserving records across Microsoft applications like OneDrive and SharePoint, ensuring robust preservation of digital records.
Workflow Automation
OnitX, the core platform, automates workflows and reporting, supported by a business process management engine. It allows for the creation of customized apps to address specific legal-related requests and integrates seamlessly with core business applications such as Office 365, Salesforce, and SAP.
Integration Capabilities
The platform integrates with a wide range of tools and systems, including Outlook, Word, SAP, Salesforce, NetDocs, iManage, SharePoint, and more. This integration ensures that users can work with the tools they use daily, minimizing disruption to their operations.
Real-Time Reporting and Analytics
Onit provides real-time reporting and analytics, giving users valuable insights into their business processes. This data-driven approach enables informed decision-making and continuous improvement. Advanced reporting capabilities help optimize processes, allocate resources effectively, and achieve strategic business objectives.
Collaboration Tools
The platform includes robust collaboration tools that facilitate communication and teamwork among employees. Features such as task assignments, notifications, and document sharing promote efficiency and transparency within the organization.
AI-Enabled Solutions
Onit leverages AI technology, particularly through its Catalyst AI, to drive various functionalities like AI-driven drafting, review, and playbook creation for contracts. The AI-powered Microsoft Outlook plug-in and smart intake solutions further enhance the efficiency of legal service requests and management.
Security
Onit ensures high levels of security with bank-grade 256-bit Secure Sockets Layer (SSL) encryption, enterprise-class secured hosting environments, and daily backups. The platform maintains strict physical, application, system, and operational security measures to protect user data.
Conclusion
In summary, Onit is a powerful legal operations platform that automates and streamlines legal processes, enhances collaboration, and provides deep insights through advanced reporting and analytics, all while ensuring robust security and compliance.