Accomplished software executive to spearhead the next phase of growth and customer success.
Houston, TX – January 16, 2024 – 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.
“When Onit was founded thirteen years ago, we had an ambitious goal to make legal a strategic partner to the business. Since then, we have become a recognized market leader, serving over 3,000 customers globally, providing hundreds of workflow automation applications and end-to-end solutions for Enterprise Legal Management and Contract Lifecycle Management. I’m excited to welcome an individual with Michael’s deep experience in scaling growth businesses to lead this next chapter of Onit’s journey and look forward to supporting him and the team as a member of our Board.” said Mr. Elfman.
Mr. Farlekas will lead all aspects of the company, focusing on driving customer value and accelerating the adoption of modern, legal-related business processes through automated, intelligent, and comprehensive software solutions. He brings to Onit an extensive track record of successful executive leadership, boasting over two decades of experience in sales, marketing, and leadership within the realm of enterprise software and operations.
Most recently, Mr. Farlekas led E2open to unprecedented growth over the past eight years. As CEO, he completed fourteen acquisitions to grow the customer base to more than 420,000 manufacturing, logistics, channel, and distribution partners through a network tracking over fourteen billion transactions annually. Previous executive roles include successful stints at Roadnet Technologies and RedPrairie.
“I am honored to join Onit and to have the opportunity to work with our customers and talented team,” said Mr. Farlekas. “Onit today has a market-leading global footprint and a strong passion for customer satisfaction and innovation. I am committed to building on this great foundation and leading the company towards scalable and profitable long-term growth in the industry.”
“We are delighted to welcome Michael to the Onit team,” said Mike Velcich, Partner at K1 Investment Management. “He is a proven business leader with an excellent track record of scaling businesses for the long term. We look forward to working with Michael to accelerate Onit’s momentum, fostering continued expansion and value creation for customers and stakeholders.”
About Onit
Onit, Inc. is a global leader in AI-enabled workflow automation solutions for legal, compliance, sales, IT, HR, and finance departments. Companies can transform best practices into smarter workflows, better processes, and operational efficiencies through Onit’s enterprise legal management, matter management, spend management, contract lifecycle management, and legal hold solutions. It helps transform how corporate legal departments with mid-market to Fortune 500 companies bridge the gap between systems of record and systems of engagement.
For more information, visit onit.com.
About K1
K1 is a global investment firm that builds category-leading enterprise software companies. K1 partners with strong management teams of high-growth technology businesses to help them achieve successful outcomes. With over 125 professionals, K1 and its operating affiliate, K1 Operations LLC, change industry landscapes with operationally focused growth strategies designed to rapidly scale portfolio companies. Since the inception of the firm, K1 has partnered with over 200 enterprise software companies including industry leaders such as accessiBe, Atera, Checkmarx, Complysci, ControlUp, Emburse, Employ, Granicus, HR Acuity, IronScales, Onit, RethinkFirst, Reveal-Brainspace, RFPIO, simPRO, Smarsh, Technomile, XTM International and Zapproved.
For more information, visit k1.com and follow K1 Investment Management on LinkedIn.
Anaheim, CA (Jan. 29, 2024) – Winnow Solutions, LLC announces the development of Winnow AI, a groundbreaking AI-powered legal search assistant designed to streamline compliance for banks, lenders, and financial institutions. The company unveiled the new product during Legalweek in New York on Monday.
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The landscape of legal content management is transforming thanks to advancements in artificial intelligence (AI). Burdened by the immense volumes of sensitive data they handle daily, legal entities find respite in AI-driven solutions for managing Personally Identifiable Information (PII). Learn how Accusoft enhances Legal software technologies with AI-powered API integrations from its flagship product, PrizmDoc.
Legal101 — to connect, communicate, and collaborate
Legal101 is on the go mobile-ready intranet platform, which empowers law firms to accelerate employee productivity, enhance communication and workplace efficiency. The platform enables attorneys and practitioners to stay connected and informed with law firms’ updates.
Legal101 Highlights
Lawyer Dashboard
Actionable Alerts
My Favorite Links / My Tools
Firm News and Newsletter System
Firm / Department / Office Calendar system
Firm Directory
Guided Search Experience
Search Results
Watch more> https://www.youtube.com/watch?v=IEDHT6xNHks
The team at Rosen Law was no stranger to getting legal contracts signed using eSignatures at their law firm. But, they were looking for a better solution to replace their current DocuSign agreement. They wanted something that would be cost-effective, play well with their other systems, and could operate without pesky third-party tools. And it needed to work for all of the document and contract processes that powered their firm. That’s when they found Docubee.
Priori, the leading legal technology platform for outside counsel decision-making, is honored to be named in the second annual Inc. Power Partner Awards. The awards highlight companies that have a proven track record working as invaluable B2B partners to startups and small businesses, providing support for key business functions and enabling growth.
“We’re thrilled that Inc. recognized the value Priori provides to companies by making it easier to find the right lawyers and other legal professionals at the right price,” commented Basha Rubin, CEO and Co-Founder of Priori. “We help companies of all sizes and allow startups and businesses with small legal teams to be responsive to the business’s needs and quickly scale legal support up and down as needed.”
The proprietary search and matching technology behind Priori Marketplace enables companies to find the perfect resource for their legal projects. It provides:
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40–75% cost savings over traditional outside counsel options
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A network that is 51% more diverse than the overall law firm market
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8,000+ profiles of legal services providers across all 50 states and 70+ countries
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Experienced attorneys from former AmLaw lawyers (49% of the network) to Fortune 500 in-house lawyers (34%) to lawyers with 8 years of experience or more (85% of the network)
This announcement comes on the heels of a year of growth for Priori. In July 2022, the company secured a $15 million A-1 financing round, and in the ensuing year doubled its headcount and added three members to its senior leadership team. In 2023, Priori was named New Law Company of the Year in the Legalweek Leaders in Tech Law Award, joined the 2023 Inc. 5000 list of fastest-growing private companies for the first time and launched its customer advisory board, including members from Fortune 500 companies.
The second annual Inc. Power Partner Awards honors 389 companies that support entrepreneurship and provide guidance and expertise for businesses throughout their organizational journey. The awards recognize B2B companies that serve as reliable partners and received top marks in client surveys. To view the complete list, visit Inc.com.
Well-crafted prompts (essentially, the question or statement the LLM is asked to respond to or build upon) are key to accurate, useful AI outputs. Vague prompts lead to confusion, but clear, detailed prompts elicit outstanding results. Framing prompts using the AI’s language gets the desired responses.
In our new “Mastering the Art of Legal Prompting” infographic, learn the simple “3Ps” approach to guide AI systems through effective prompting and dive into the anatomy of what makes an effective, robust prompt.