We are hard at work trying to spec out our electronic billing and legal spend management module but we need a few brave individuals to assist us. Although we have a decent amount of legal domain experience to guide us, we lack more voices from our target market. Who exactly makes up our target market? Simply put, it’s the companies between $1 billion and $4.5 billion in revenue. Generally, these are companies just below the Fortune 500.
That’s why today I am announcing the formation of the Onit Advisory Group (OAG). This team of legal professionals will participate in the strategic development of our legal spend management module. Membership in the advisory group is by invitation-only but I strongly encourage you to email me at jill.black@onit.com if you or a colleague is interested in participating. Just think, how often do you get to influence the strategic development of a new product in the legal industry? Don’t miss out on this opportunity.
As we near the end of the Onit beta, I have been thinking about the success of the last three months. Since launching at LegalTech New York on February 1, 2010, we have had almost 1,000 business and legal professionals register for our beta. In addition to wildly exceeding our expectations, we are encouraged to learn that there is a need for a legal project management tool like Onit.
We also got a fair amount of action on our community site and encourage users to continue to submit questions, share ideas and report bugs. Our main goal with the beta program was to gain an active group of users and we were pleased to find just that. Thank you to everyone who made this beta a success. We will continue to engage with our active users and solicit feedback for new legal project management features.
Our users broke down in ways that we didn’t completely anticipate: 35% were law firms, 20% corporate/government/education, 10% competitors/vendors, and 35% were other types of users that had nothing to do with legal. While we were hopeful that law firms and people not associated with the legal industry would adopt our platform, we didn’t realize either group would be so large.
Looking forward, we have some major functionality that we plan to roll out in the next week or so, but the big news is that we are working on our electronic billing and legal spend management module. This will be targeted at the legal industry and will add the ability to budget and track the financial side of projects. We will be in beta with this module over the summer.
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