SAN MATEO, Calif., April 30, 2020 /PRNewswire/ -- Apttus, the Middle Office leader, announced that Huntsman Corporation has advanced its legal operations with Apttus' Contract Lifecycle Management (CLM) solution. Huntsman now runs its contracting operations off of a single data model, enabling a consistent view of contracts across sales, legal, finance, and other functional groups. As a result, the global manufacturer and marketer of differentiated and specialty chemicals has achieved greater visibility and control over its contract approvals process, resulting in improved compliance with regulations like SEC and SOX regulations and faster access to accurate agreement data.
"The Apttus platform has allowed us to centralize and manage our contracts, both on the sales and the procurement side," said Patrick Verraes, Deputy General Counsel at Huntsman. "Apttus CLM has also proven to be a reliable means of analyzing data and driving contract efficiency while giving us more insight into the value and risk profile of our contracts."
By standardizing its global contracting process and introducing instant approvals via mobile using Apttus CLM, Huntsman has seen 40% faster contract cycle time, going from weeks or days to a matter of hours or minutes. In addition, standardized and automated reporting contributes to 92% faster reporting and removes the risk of manual error.
"Our customers often say that their top challenges are extended time to execute and lack of visibility," Apttus SVP of Product, Eric Carrasquilla said. "To address these challenges, we are putting the power of contract discovery and lifecycle management into our customers' hands. By doing so, they can support their business operations at the pace required while continuing to manage risk and compliance as regulatory requirements change."
Apttus is a Silicon Valley-based global provider of a Middle Office platform that allows enterprises to automate and optimize their most critical revenue and commercial relationship management processes. Apttus is powered by the most advanced technologies from Salesforce, Microsoft, and IBM. Analysts rank Apttus as the global gold standard for Quote-to-Cash (QTC) and Contract Lifecycle Management (CLM) solutions. Apttus customers include hundreds of the world's mid-sized organizations and the who's who of the Global 1000. To learn more, visit Apttus.com or follow us on Twitter @Apttus.
Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated and specialty chemicals with 2019 revenues of approximately $7 billion. Our chemical products number in the thousands and are sold worldwide to manufacturers serving a broad and diverse range of consumer and industrial end markets. We operate more than 70 manufacturing, R&D and operations facilities in approximately 30 countries and employ approximately 9,000 associates within our four distinct business divisions. For more information about Huntsman, please visit the company's website at www.huntsman.com.