The acronym CLM stands for contract lifecycle management. Contract lifecycle management is more than just having a simple contract repository with search. It refers to the end-to-end process of contract requests, routing and assignment, document authoring, automated workflow, redline and negotiations, review and approvals, signature and execution, renewals, amendments and fulfilling contracts obligations and milestones.
If you’re wondering why our name sounds like a variety of wine, that’s not a coincidence. As we were contemplating a unique name for our company, we didn’t want something that sounded like every other contract management software solution, such “CONTRACTS-R-US” or “LEGALWITHEASE.” While formalizing our organization setup, our co-founders were sitting around a table and raised their glasses, spontaneously toasting “To Malbec.” After all, who doesn’t like a glass of Argentinian Malbec? So the name stuck, but with a K! Click here to read the whole Malbek name story.
Contract management software can help an organization automate and streamline many of the tasks and processes that create friction in contracting. Contract management software can help reduce cycle times by up to 75%, eliminating the bottlenecks that cause delays. It can also make it easier to scale contract volume growth without needing to add head count. In addition, effective contract management software makes it possible to reduce the amount of involvement Legal has in agreements by as much 80-90%, allowing them to focus on more value-added activities. By integrating CLM with other enterprise solutions, you can avoid data entry, redundancy, and improve accuracy and visibility while meeting the expectations of business users for their contract requests.
Our system is designed for the business user, not a rocket scientist, no computer programming, no technical jargon. A legal admin on your team can easily make the necessary configurations, such as contracting workflows, business terms, template language, event reminders, reporting, integrations, and more. Our self-help video tutorials and online guides walk you through all configurations. And to make your internal business partners happy, this incurs no additional charges since you don’t need Malbek or IT resources for every little change. You can read more about it here.
We believe industry-leading eSignature providers are best of breed with additional security standards focused on electronic signature, compliance, and years of best practices in that field. Why build when you can partner? Malbek’s approach is a seamless integration with well-known eSignature tools, like DocuSign and Adobe Sign. This blog post will tell you more.
You will be surprised how affordable Malbek is compared to other options. We can provide flexible pricing based on the number of individuals who will use the system and other factors. Automatic system updates and support are included in our pricing. Our one-time implementation is also incredibly cost-effective due to the simplicity and configurability of our application. We recognize all organizations are different, so contact us to discuss an affordable model that’s right for you.
Yes, and no! Yes, we have AI, but, no, it will not take over your job or make you breakfast. What makes us different is our approach to artificial intelligence. We believe that AI shouldn’t be just a portion of your legal technology. Rather, it should be interwoven throughout the entire CLM platform. It should guide you during the contracting process and reduce the mundane tasks on your plate so that you can focus on the more important and value-added tasks. If you’d like more info on our approach to AI, check out this blog post on it.
The security of your contract documents and data is of paramount importance to us at Malbek. From the very beginning our platform was built on a highly secured, cloud-based technology which is in our DNA based on years of experience. We provide data separation and encryption, with full authentication integration and single sign-on (SSO) support. The Malbek platform uses Amazon Web Services (AWS) and we conduct regularly scheduled best-in-class network penetration and vulnerability testing. Our application security is highly configurable for end-user access to contracts, and our authorization framework makes it easy to provision
CLM software is technology that automates the process of managing contract lifecycle. CLM software may contain a range of capabilities to support a contract lifecycle plus innovative functionality such as advanced reporting, metrics, and artificial intelligence. Many CLM software solutions contain search capabilities so that users can easily find their contracts, workflow capabilities to correctly flow the contract through its process, a secured repository for storing contracts, and various integrations with other key business applications, such as Salesforce and Coupa.
Contract lifecycle management, or CLM, sits at the heart of business and touches almost every department from Finance and Sales to Legal and Procurement. Contracts memorialize the legal and financial arrangements that exist between parties and contain some of the most mission-critical information for an organization. And that means they can tell us a ton about the health and success of your business. When CLM is poorly managed, it can result in an average annual revenue loss of 9%, and that number goes up to 15% for larger companies. These negative impacts can be felt across the entire organization, not just by Legal.
Malbek is for anyone who is struggling with a large volume of contracts to manage. We help eliminate manual and redundant processes, slow approvals, and the inability to search or report on contracts. We make tracking renewals and key events easy and do all of this without the need for IT or technical resources. With a self-service, fully configurable solution that puts you in the driver’s seat, Malbek relieves your contracting pain. That’s what contract management software is. Check out our eBook Why You Need a New CLM Solution Now.
Absolutely! Many of our customers have contracts in a variety of places, unattended and left to security and data vulnerabilities. Our experienced team will guide you as you prepare your contracts for import into Malbek. Our application lets you get your data and your documents into the system without any technical resources to begin enjoying what contract management software is.
No, you don’t need any technical resources. Malbek offers white-glove service to understand your contracting processes and current challenges. Then we get the solution implemented based on best practices so you can gain efficiencies right out of the gate. You can be live on Malbek within a fraction of the time you would expect. To find out more about our philosophy on customer support, check out this blog post on The 6 Secrets to Outstanding Customer Support.
We like to think of integrations like a jigsaw puzzle. Wouldn’t it be great if you could connect your enterprise systems to one another as easily as putting two perfectly fitting puzzle pieces together? That’s exactly what we’ve done. With our productized connectors, we’ll get you connected faster, decrease your dependency on your busy IT colleagues, and lower your overall cost of ownership. If you want to know more, you can read all about it in this blog post on integrations.
Malbek is a multi-tenant cloud solution, architected on a highly scalable SaaS platform that is purpose-built for contract management and hosted on AWS. You will be amazed at the speed and performance of the system. Rest assured, your contracts and associated data are protected to the highest security standards thanks to annual, independent penetration testing and other security measures. To find out more about our “Cloud DNA” and security protocols, check out this cloud security white paper.