Princeton, NJ, Oct. 10, 2024 (GLOBE NEWSWIRE) -- Malbek, a leading provider of contract lifecycle management (CLM), is thrilled to announce the launch of our new Malbek Vertical Power Packs featuring industry-specific capabilities to meet the unique challenges of a customer’s industry, including Life Sciences, Manufacturing, and Consumer Packaged Goods to name a few. These first-to-market capabilities will completely transform how our customers handle their contracts moving forward, saving valuable time, money, and accelerating contracting velocity.
"As our team explored better ways for industries to manage their contracts, the current amendment process was an area that glaringly needed a better way," said Hemanth Puttaswamy, CEO of Malbek. "I was confident that we could develop something that would work more effectively, quickly, and deliver the precision that contracting teams require when dealing with amendments. We are excited about the significant impact these new Vertical Power Packs will have across various industries." Amendments are a vital contract template for customers who have longstanding contractual relationships that require changes over time, sometimes lasting many years. They allow customers to update only parts of the original contract vs. renegotiating an entirely new contract. While amendments provide flexibility and speed, historically, they create huge and messy contract files that can be challenging to make sense of – what are my current terms?
Vertical Power Packs revolutionize contract management with add-ons like Amendment Studio and Malbek DataCubes. This enhances the already powerful Malbek's horizontal platform with first-of-a-kind industry capabilities. Amendment Studio enables surgical amendments for focused negotiations and streamlined lifecycles with the ability to keep track of years of changes in language and financial terms. Malbek DataCubes seamlessly integrates multi-dimensional data, connecting upstream decisioning with downstream revenue management and billing while keeping the contract documents up to date with live connections between metadata and data. All features are delivered through a connected experience, keeping metadata, documents, and data in sync across the lifecycle, ensuring consistency and reliability.
Seamlessly turn on these powerful packs in your Malbek CLM: no more messy contract files and laborious manual management and ditch the detective work to understand current terms and obligations. Now with Malbek’s Vertical Power Packs, reduce cost, risk, and ensure your contracts accelerate the speed of your business.
Key Benefits of Malbek’s Industry Power Packs:
- Streamline Amendments, Boost Efficiency: Efficiently modify contracts at scale, saving time, money, and ensuring compliance while refocusing legal resources on strategic initiatives.
- Maintain Accurate Records Effortlessly: Effortlessly maintain precise, up-to-date records of terms and obligations, eliminating manual tracking and enabling easy data extraction, reporting, and integration with upstream and downstream systems.
- Experience a Connected Workflow: Seamlessly integrate data, negotiate terms, and sync with revenue management, leveraging automation and AI to remove bottlenecks, ensure speed to market, and gain a competitive edge.
Malbek was recently named the top Contract Lifecycle Management (CLM) Software in the 2024 CLM Data Quadrant Report from SoftwareReviews. The Data Quadrant Report is based solely on user reviews, without paid placements or analyst opinions. The reviews measure features, vendor capabilities, and customer relationships. This prestigious accolade highlights Malbek's unwavering focus on creating best-in-class CLM solutions and exceptional customer experiences.
"We are honored to be recognized as the 2024 Top CLM Software," says Matt Patel, COO and Co-Founder at Malbek. “We are dedicated to our customers and strive to provide them with cutting-edge CLM solutions that produce tangible business results. This accomplishment serves as a testament to our unwavering commitment."
To learn more about Malbek’s Vertical Power Packs, please visit our industry solutions pages here.
About Malbek:
Malbek is at the forefront of the digital contracting revolution. With continuous innovation, a well-integrated solution, and the latest in AI technology across the platform, they continue to increase efficiency and help drive meaningful impact to organizations across the globe. With their customer-centric approach, it’s no wonder they have a 120% customer retention rate and 96% customer satisfaction rating. Malbek continues to make waves and disrupt traditional CLM technologies with its ease of use, robust workflows, and highly configurable platform. To learn more, visit www.malbek.io.
