With an M&A-focused growth strategy, TIBCO needed a scalable, AI-charged contract lifecycle management (CLM) solution to streamline due diligence and contract review processes during acquisitions. Using Malbek’s proprietary, AI-core CLM platform, TIBCO accelerated its M&A transaction timeline and increased efficiency across global teams with seamless post-acquisition contract ingestion.
TIBCO Software Inc. continues to grow through M&A transactions, making contract management an essential component of its ongoing growth strategy. But simply having a solution to store contracts after the M&A transactions were completed was not enough. Requiring the review of thousands of complex contracts during due diligence—including NDAs, reseller, third-party agreements, and more—TIBCO needed an AI-charged CLM solution that could assist in expediting the due diligence process before the transaction closed and simplify post-M&A contract migration. AI-assisted contract review was key.
In 2017, TIBCO recognized the challenges associated with its legacy CLM solution. Back then, due diligence consisted of tedious, manual reviews to identify unfavorable terms and clauses, presenting more risk exposure. It also involved a lengthy, complicated process for migrating contracts post-M&A into the CLM. In addition to the previous system’s struggle to support TIBCO’s growth strategy, the old system also posed the following challenges:
- Outdated technology, slow performance, and low user adoption
- Heavily customized solution with high maintenance
- High cost of ownership with many customizations and challenging upgrades
- Unsustainable and large dependency on the vendor with costly services Thousands of non-actionable contracts sitting in the repository