Contract Management Blog Articles

We generate insights and integrate data into our everyday lives both knowingly and unwittingly. From DNA tests, targeted ads, programmatic media buying, wearable devices (think FITBITs, tech togs, yoga tights, UV patches, smart watches, the OURA ring), to sharing geolocations and our whereabouts on maps.

In the information and digital age, we each leave a potentially insightful sprinkle of data everywhere we go. As do contracts on a contract lifecycle management (“CLM”) system such as Malbek.

A contract lifecycle management solution is something that both Procurement and Legal teams need. However, there is often some disconnect between the two business functions. Knowing what features and functions are needed to bring consistency to buy-side contracting is necessary when trying to improve collaboration with Legal.

If you're reading this, I'm going to guess that your Sales and Legal teams probably don't collaborate as well as they could. Am I right?

Let's face it, even though Sales and Legal are on the same team, they tend to have a lot of competing priorities when it comes to contract management. Legal is primarily concerned with risk mitigation, while Sales is all about deal acceleration. So how do they work together effectively? In today's modern world, all end-users expect speed and visibility, and contract management is no exception. What if I told you there was a way to unite these teams around contract management by meeting them where they are? Hang with me! In this post, I'm going to show you it's possible with a seamless CLM + CRM integration.

Contract Lifecycle Management continues to be a fast-growing legal industry sector, but do you know what it is?

This post is intended to provide a brief overview of what this sector is about. In this post, I will:

1. State a few underlying principles of CLM.
2. Answer some frequently asked questions about what CLM is.
3. Provide some additional resources for further review.

Contracts are legal documents and, appropriately, are the domain of the legal function.

Managing contracts, however, is a cross-functional exercise involving several functions including finance, legal, sales, and in larger companies, procurement.

Jason Smith puts it this way:

“There's a difference between managing the contract lifecycle (the process) and the contract (the document). The contract document is a legal artifact... the process is a business lifecycle. Once you understand this, the cross-functional concept becomes easier to address.”

To my pleasant and welcomed surprise, 2021 was an incredible year for Malbek after the intense pandemic year of 2020. A lot of things changed; however, many things remained the same. Masks have become a normal accessory like sunglasses. Sanitizer is used as much as moisturizer. Working from home continues to be the new norm. I have been to more happy hours on Zoom instead of actual bars. I spent more money on furnishing my home vs. buy any new clothing.

Ok, let's stop and take a breath together. Unlike 2020, 2021 has flown by. Well, as they say, time flies when you're reimagining an industry 😉

From funding and growth to culture and people, a lot has happened this year. And through it all, one thing is as solid as concrete: Malbek absolutely won 2021. Here's how: 

Malbek is today’s most modern, cutting-edge CLM solution. With our platform, we combine the features you need in a way that empowers the enterprise to do more with less. But don’t take our word for it! Here are four metrics from our customers to prove that using Malbek saves an organization valuable time, reduce risk, and accelerate revenue.