Lizzy Painter

An almost incalculable number of contracts are signed every year by business partners all over the world. It is no coincidence that almost a third of all employees worldwide work in contract management. But what exactly is the meaning of an executed contract? How do they affect the success of your business? In this article,

If you’ve ever watched your legal team spend days creating a seemingly simple contract or struggled to locate critical information buried in thousands of agreements, you’re not alone. As a contract manager or department leader, you know that document processes can be the invisible bottleneck that keeps your team from delivering their best work. What

Did you know that in almost 40% of organizations, it’s unclear who is actually responsible for contract management workflow? That’s a staggering statistic that shows just how disorganized contract processes are in many companies. The truth is, that effectively managing the contract workflow management is critical for any business that operates based on formal agreements

“Switching from manually written, Word-based legal documentation to digital e-contracts feels like putting down the ink pen and using a typewriter instead.” – Everybody who ever tried Digital Contracting. Traditional paper-based contracts are being replaced by electronic contracts, also known as e-contracts or digital agreements. Electronic contracts are legally binding agreements that are created, executed,

When it comes to business relationships, signing a contract is just the beginning. The real challenge? Making sure everyone’s on the same page about what’s expected. That’s where Service Level Agreements (SLAs) come in. Think of an SLA as a binding contract that spells out exactly what level of service you can expect, including specific

Contracts in the oil and gas industry? They’re a beast. With high stakes, massive projects, and a tangled web of legal complexities, it’s no wonder 83%1 of companies say contract management is their biggest headache. Whether you’re wrangling joint operating agreements, navigating production sharing contracts, or keeping service agreements in check, one thing is clear:

The Hackett Group’s study1 anticipated an 8.0% rise in the procurement workload for 2024. This increase creates potential room for manual errors and emphasizes the importance of stronger collaboration between related departments. To maintain efficiency, procurement processes need adequate legal support and effective contract management. Procurement contract management is essential for smooth information flow, proper

Regardless of whether manufacturing is done in-house or outsourced to an external service provider (contract manufacturing), the entire process can require thousands of contracts to run smoothly. Manufacturing companies deal with complex contracts, including supplier agreements, distribution contracts, and service-level agreements. Therefore, efficient contract management processes are important to ensure on-time and error-free delivery. Manufacturing

Clinical Trial Agreements (CTA meaning medical agreements and not Call-To-Action, which is an often used marketing term) are fundamental to the successful execution of medical research. These legally binding documents serve as the cornerstone for collaboration between sponsors, research institutions, and investigators. CTAs, also known as Clinical Study Agreements (CSAs), outline the terms and conditions

According to data collected by World Commerce & Contracting, effective contract development and management has the potential to save companies an impressive 9% of their annual revenue on average. However, despite this significant opportunity for improvement, many organizations continue to experience value leakage years later. This persistent issue highlights the critical importance of implementing and

As organizations engage in a growing number of commercial relationships, the need to efficiently manage contracts throughout their lifecycle has become paramount. Contract administration encompasses a wide range of activities, from negotiating terms and conditions to ensuring compliance and maximizing performance. When done right, it can mitigate risks, improve profitability, and strengthen partnerships. However, traditional

September 24, 2024, Princeton, NJ (GLOBE Newsire) — Malbek, a leader in Contract Lifecycle Management (CLM) solutions, is pleased to announce a strategic partnership with ZS, a global management consulting and technology firm. With successful global deployments across industries, including Life Sciences, Financial Services, Technology, Services, Manufacturing, CPG, Telecom, Energy, Oil, and Gas, this collaboration

Contracts form the foundation of virtually all commercial relationships. These agreements define the terms, conditions, and most importantly, the obligations each party must fulfill. Effective management of these contractual obligations is crucial for organizations to mitigate risks, maintain compliance, and ensure the smooth execution of business operations. However, keeping track of the numerous obligations scattered

Private and corporate agreements are always significant, but there is a special category of contracts where errors can be especially costly – a single mistake can even cost lives. Healthcare contract management deals with contracts that individuals enter into with healthcare providers and insurers, but also with documents that govern the processes between different providers. 

Maximizing CLM with a multi-track agenda designed for incredible learning, product innovations, and a growing community in the heart of Nashville Nashville, TN, July 16, 2024 (GLOBE NEWSIRE)— Malbek, a leading provider of contract lifecycle management (CLM) solutions, is thrilled to announce its annual user conference, Malbek Envision, to be held October 9-11, 2024, at

Modern Innovations to Clickwrap Agreements are Transforming the Speed, Accuracy, Compliance, and Ease of Doing Business for Companies Worldwide.   Princeton, NJ — July 1, 2024 (GLOBE NEWSIRE) – Malbek, a leading provider of contract lifecycle management (CLM), is proud to announce the launch of new Malbek Klix capabilities featuring next-generation clickwrap agreement technology. These first-to-market

Despite their pivotal role, the valuable insights buried within contracts often go untapped. This is a missed opportunity because contracts are data-rich assets that can provide organizations with a competitive edge when analyzed effectively through contract analytics. The reality is that a staggering 70% of companies fail to fully adhere to the terms and conditions

Contract lifecycle management is as old as contracts themselves, but for a long time it was all about memorized numbers, data entered manually into spreadsheets, and risks from human error. Modern CLM solutions, which now include artificial intelligence, offer a variety of benefits for different departments in organizations to reduce risk, increase efficiency, and easily

In today’s digital age, the ability to sign documents electronically has become a necessity for businesses of all sizes. However, many people use the terms “electronic signature” and “digital signature” interchangeably, when in fact, they are distinct concepts with their unique characteristics and applications.  The rise of remote work and virtual transactions has been staggering

In the labyrinth of lengthy contracts lie hidden clauses, crucial dates camouflaged amidst block letters, and subtle regularities buried within pages. A seemingly insignificant date tucked away in small font on page 40 of a sprawling 100-page document may only reveal its importance in hindsight. Yet, even a single oversight of such significance can potentially

In this exploration of the future, let’s dive into the impact of AI-powered contract tools, unlocking the potential to drive enhanced efficiency, reduce risks, and revolutionize the very fabric of contract management workflows. From automated document analysis to the intricate dance of risk assessment, join us on a journey through the key aspects of this

The complexities of today’s global markets demand a thorough understanding of contract compliance and risk management. This essential guide aims to provide contract risk, the significance of contract compliance, and how organizations can navigate these challenges effectively. 

Over the last couple of years, we’ve seen a lot of change: our professional and social environments, how we operate, how we leverage hyper-advancements in technology. We are feeling the impact and the business of Legal, Procurement, Finance, and Sales is changing forever.

In the ever-evolving corporate landscape, the significance of maintaining an efficient and organized approach to contract management cannot be overstated. Contracts form the backbone of business relationships, and the way they are handled can wield a profound impact on the overall success of your organization.

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Learn all about the pivotal role of legal operations and why it’s needed in a business.

Implementing a CLM can significantly affect how efficient, collaborative, and cost-effective your business is. We will explore all the best practices as well as things to avoid when looking to implement a CLM. 

Malbek’s customer-centric approach helps organizations navigate the CLM journey seamlessly and emerge victorious.

This post outlines the intricacies of contract migration, insights, and best practices that will make CLM implementations and data migration successful.

On the heels of CLOC, we are still reverberating with excitement from all that we learned and experienced! Check out our video and key takeaways!

Identify common slowdowns in contract management and find solutions to streamline your company’s digital contracting processes today.

Learn to love your CLM again with Malbek