Chevron Phillips Chemical Licenses ForwardVue's Profit Optimization Software.Business Editors/High-Tech Writers AUSTIN, Texas--(BUSINESS WIRE)--Feb. 17, 2004 ForwardVue Technologies Inc. (ForwardVue), the leading provider of profit and revenue optimization software Free and Open Source software
"ForwardVue has a unique tool that will allow us to evaluate our commodity contracts and their constituent portfolios," said Bruce Bush, general manager Olefins & NGL NGL - A dialect of IGL. for Chevron Phillips Chemical. "Customers are requiring more optionality, which is becoming a requirement of doing business. We think that ForwardVue's software will provide Chevron Phillips Chemical with a competitive advantage moving forward." ForwardVue software provides a powerful, but easy to use, capability to value and compare complex sales Complex sales, also known as Enterprise sales, can refer to a method of trading sometimes used by organizations when procuring large contracts for goods and/or services where the customer takes control of the selling process by issuing a Request for Proposal (RFP) and and purchase contract structures. Chemical and feedstock feed·stock n. Raw material required for an industrial process. Noun 1. feedstock - the raw material that is required for some industrial process raw material, staple - material suitable for manufacture or use or finishing sales and purchases often involve using large, long-term contracts that include complex terms and conditions that can impact company performance. ForwardVue's software makes it possible to understand and assess the impact of contract terms and conditions at the individual contract level and within the context of an overall portfolio of contracts. As a result, the software provides flexibility and significant business benefits to decision makers, including improved price-volume management, shortened contract negotiations, margin optimization, a common basis with which to report, explain and document decisions, and the potential to tighten forecast to actual financial results. "ForwardVue's unique software solution provides visibility into the exposures inherent in the optionality of individual contracts and their impact on overall portfolios enabling 'what if' scenarios and improved decision making," said Marc Surplus, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of ForwardVue. "Chevron Phillips Chemical saw the potential of our software and we are excited to welcome another world-class company to our growing customer base." About ForwardVue Technologies ForwardVue Technologies provides innovative and easy to use profit and revenue management solutions to the chemical and petrochemical industries. ForwardVue's solution enables organizations to improve financial performance by identifying, valuing, and managing commodity price and volumetric volumetric /vol·u·met·ric/ (vol?u-met´rik) pertaining to or accompanied by measurement in volumes. vol·u·met·ric adj. Of or relating to measurement by volume. risks in commercial contracts and physical assets. With ForwardVue's enhanced decision support and analytical capabilities, companies are able to negotiate more profitable contracts, increase and protect margins, and improve operational efficiency. For more information, visit www.forwardvue.com or call 512-651-3200. Copyright 2004, ForwardVue Technologies Inc. All rights reserved. |
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