Oilfield services provider Weatherford International has deployed a contract lifecycle management solution from Dallas-based CLM Matrix to automate internal workflows and meet corporate governance, compliance and reporting needs. The solution will be used in bid tender negotiations with major oil producers to extend existing services or provide new products and solutions.
CLM’s Matrix Enterprise package will be used to establish global standards and procedures for customer contracts. Weatherford’s compliance and risk management teams will now be party to the entire contract process—giving them the visibility they need to stop or change a contract that would have created unwarranted risk.
Matrix Enterprise is the first international application that Weatherford’s IT organization has rolled out internationally on Microsoft SharePoint. Deployment will start in fall of 2010. More from www.clmmatrix.com.