Malbek, the most cutting-edge, AI-fueled Contract Lifecycle Management (CLM) platform, today announced from the CLOC Global Institute conference the availability of its expanded platform capabilities and a new CLM Value Assessment tool.
Malbek’s new functionality puts the spotlight on real time Redline Recommendations. Using the platform’s proprietary Lifecycle AI running NLP Heuristics with Semantic Analysis, this functionality helps to identify all contracts with similar asks received from the counterparty during negotiation and then recommends to the user the best position to take, balancing historical tolerance for risk and the need for speed. This powerful new capability reduces negotiation round trips by reminding users where they usually end up post-negotiation, saving unnecessary negotiation time and further improving efficiency in contract management.
“It is our belief that AI should be transparent and not intimidating for users and should be designed to get the most from the entire contracting lifecycle, not just from a single point in time,” said Hemanth Puttaswamy, CEO of Malbek. “The new Redline Recommendation innovation is a valuable addition to our platform and will help our customers accelerate contract negotiation cycles even more.”
The company’s new CLM Value Assessment tool is designed to help leaders and contract management professionals evaluate the people, processes, and technology involved in contract management at their organization. After taking the assessment, a customized report is delivered, providing key considerations and helpful resources to guide respondents through the next steps in their CLM initiative.
“We have always believed that contract management initiatives should follow this order – people, processes, and then technology,” Becky Holloway, VP of Marketing pointed out. “That’s why we felt strongly about bringing this new CLM Value Assessment to the broader market as a free resource.”
This week, Malbek is available to discuss these updates and more at the CLOC Global Institute conference. In addition, Malbek will participate in the session “Agents of Change: Leveling up Legal Operations to Maximize Business Growth” taking place on May 10, from 10:30 – 11:45 AM PT.