Malbek Leads Next Generation of Data-Driven Contracting with Goals and Benchmarking Innovations
Malbek continues to push data and AI-fueled contracting practices by adding new capabilities to its Contract Lifecycle Management Platform.
Malbek, the trailblazer in AI-powered contract lifecycle management (CLM) solutions, is delighted to announce the launch of its groundbreaking Goals and Benchmarking feature. This innovation further solidifies Malbek’s commitment to revolutionizing the way businesses manage contracts, monitor performance, and optimize their processes.
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“Our dedication to pushing the boundaries of CLM technology is unwavering, and the introduction of the Goals and Benchmarking feature is a testament to that commitment,” said Hemanth Puttaswamy, CEO and Co-Founder at Malbek. “We believe in providing our customers with tools that not only streamline their contract processes but also elevate their overall business performance. This new innovation reflects our obsession with relentless pursuit of excellence.”
Goals and Benchmarking empowers organizations to set and track contract management goals, providing real-time insights into performance metrics and benchmarks within their CLM environment. This strategic enhancement aligns with Malbek’s mission to continually enhance customer success, offering a solution that goes beyond traditional contract management capabilities.
Set Customized Contract Management Goals: Tailor goals based on specific organizational needs, KPIs, and OKRs to ensure alignment with strategic objectives.
- Efficiency: Metrics to help assess overall performance like time to negotiate, approve, and sign.
- Effectiveness: Metrics to help evaluate the success of the process and the impact it has on a business like the number of negotiation roundtrips, number of approval sets, and number of AI clauses redlined.
- Configuration: Metrics to help you gauge the complexity of your legal playbooks like the number of data fields and number of stages in different business flows.
- Risk: Metrics to help quantify potential uncertainties or vulnerabilities like AI additions, removals, and modifications per contract.
Monitor Key Performance Indicators (KPIs): Gain real-time business intelligence into contract management performance metrics to make strategic business decisions and monitor progress over time.
“Understanding the true value that a contract lifecycle management (CLM) solution can bring is one of the significant challenges our customers often face,” added Ben Willis, VP of Products at Malbek. “With the introduction of Malbek’s Goals and Benchmarking feature, we’re addressing this challenge head-on. Monitor critical goals, provide a clear and measurable path to achieving a tangible return on their CLM i*********, revenue outcomes, and highlight strengths and weaknesses. More investments will be made to continuously build in benchmarking against industry standards to identify further areas of improvement and best practices.”
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Malbek’s prowess is further recognized by Software Reviews, as they were named a Leader and Gold Medalist in their 2023 Contract Lifecycle Management Data Quadrant Publication. Impressively, Malbek was ranked 1st when 100% of the customers interviewed expressed their intention to renew their contracts and 2nd in overall likeliness to recommend. These prestigious acknowledgments underscore Malbek’s unwavering commitment to customer success, innovation, technical competence, and continuous growth.
Additional top-rated categories encompass the availability and quality of training, breadth of features, business value, ease of integration, ease of implementation, ease of administration, product strategy, usability, and vendor support. These achievements solidify Malbek’s position at the forefront of innovation and reflect its dedication to sustained growth.
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