HOUSTON, June 23, 2022 (GLOBE NEWSWIRE) — Onit, the leading provider of enterprise workflow solutions including enterprise legal management (ELM) and contract lifecycle management (CLM), today announced that Scott Wallingford has joined the company as President of Enterprise Business. In this role, Wallingford will lead all aspects of Onit’s enterprise business, including establishing and executing the strategy for growing an expanding product portfolio dedicated to the company’s Fortune 500 client base.
The addition of Wallingford, a seasoned growth-oriented global technology executive with a proven track record of transforming software businesses through strong operational and inspirational leadership, punctuates a time of exponential growth for the company. In just three years, Onit acquired six companies in the AI, ELM, and CLM spaces — SecureDocs in December 2021, BusyLamp in September 2021, Bodhala in August 2021, AXDRAFT in December 2020, McCarthyFinch in November 2020 and SimpleLegal in May 2019. Onit plans on growing its employee base by 31% in 2022 to support the relentless innovation dedicated to broadening its product portfolio.
Onit’s acquisition strategy reflects the company’s dedication to helping its customers modernize workflows that directly impact the operational efficiency of legal departments and, ultimately, the speed of revenue generation. Rather than selling point solutions that only address a subset of challenges or massive quantities of features that typically go unused, Onit is focused on delivering right-sized solutions based on a company’s actual business needs.
“Legal operations is still rather nascent as a function, and Onit has a tremendous opportunity to elevate Legal’s relationship with its internal clients by equipping the legal department with technology purpose-built to make legal workflows more efficient across the enterprise,” said Eric Elfman, CEO and co-founder of Onit. “With his deep-seated knowledge of the legal tech industry and successful track record growing global legal software solutions, Scott will undoubtedly accelerate the growth of ELM and expansion of CLM in the enterprise market.”
“Onit has long established itself as the leader of the ELM enterprise market and now has a golden opportunity to expand CLM beyond the legal department,” Wallingford said. “Onit is an incredible team of passionate innovators genuinely focused on helping customers grow and improve their legal operations, regardless of how far along they currently are in the process. I am excited to join a company so deeply dedicated to their customers that it built its business model to ensure customer satisfaction and success.”
Wallingford has a deep history of delivering superior revenue growth, margin expansion and high customer satisfaction through product investments, acquisitions and strategic divestitures. He comes to Onit from Honeywell, where he established and led a global software and solutions organization that included sales, marketing, product management, engineering and operations. Previously, Scott led LexisNexis’ Legal Software Solutions business, which includes a global portfolio of five businesses — InterAction, CounselLink, Juris, Time Matters, and PC Law — targeting law firms and enterprise customer segments. He also held leadership positions at AT&T, Sabre Corporation, and Booz & Company. Scott holds an MBA in Finance from Duke University’s Fuqua School of Business and a Bachelor of Science in Electrical Engineering from Northwestern University.
Onit is a global leader in artificial intelligence platforms and enterprise workflow solutions for legal, compliance, sales, IT, HR and finance departments. With Onit, companies can transform best practices into smarter workflows, better processes and operational efficiencies. With a focus on enterprise legal management, matter management, spend management, contract lifecycle management and legal holds, the company operates globally and helps transform the way Fortune 500 companies and billion-dollar corporate legal departments bridge the gap between systems of record and systems of engagement. Onit helps customers find gains in efficiency, reduce costs and automate transactions faster. For more information, visit www.onit.com or call 1-800-281-1330.