January 9 by Steve Feyer
Contract Management Benchmarking
According to HBR’s survey, which is the leading source of benchmarking data for U.S. and global law departments, Apttus Contract Lifecyle Management (CLM) is not only the most widely used CLM solution in the market among survey respondents, but it also earned the highest satisfaction rating.
“Modern law departments understand how powerful technology can be in enabling strategic operational decisions to reduce costs, and that is why we have expanded the breadth of our survey to gauge users’ satisfaction with the various tools at their disposal,” said Lauren Chung, managing director and survey editor for HBR. “We congratulate Apttus for its impressive rating in the survey, which demonstrates that Apttus is empowering corporate law departments to operate more efficiently by leveraging technology.”
HBR’s survey isn’t the only one to find that Apttus is the most widely used contract management software. The Corporate Legal Operations Consortium (CLOC) recently released the results of its inaugural “State of the Industry Survey” based on results from over 150 companies across 32 industries in 11 countries. CLOC found that Apttus CLM is the most widely used CLM solution. HBR’s survey, however, may be the most comprehensive survey of its kind. Now in its 14th year, the Law Department Survey from HBR Consulting, is widely known in General Counsel and legal operations circles as a detailed and reliable source of information.
Like other surveys, the HBR Consulting Law Department Survey found that Apttus is the only vendor with a double-digit percentage of adoption among respondents, and Apttus CLM adoption is 30 percent greater than the next closest provider.
Making It Happen
How have we done it? Our simple answer: We listen to what our customers look for, deliver what they need, then provide ongoing support. As Red Hat’s Chief Information Officer, Mike Kelly explains, “This is about our customers, partners and associates. Getting customers accurate quotes and contracts faster, and empowering our partners to do the same is something we can easily champion.” Kelly’s team collaborates with several other business units including IT, finance, legal, operations, and services. “Those teams were excited that Apttus could address their requirements too,” added Kelly.
We’re proud of that, and we’re thrilled that HBR Consulting asked about contract management in its survey. If you are thinking about upgrading your contract management processes, talk to us about how Apttus will address your needs today and into the future.