Malbek, providers of an AI-fueled Contract Lifecycle Management (CLM) platform, is introducing availability expanded platform capabilities and a new CLM Value Assessment tool, putting 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, according to the vendor.
“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.
For more information about the Malbek platform, visit www.malbek.io/lifecycle-ai.