Malbek, today’s most cutting-edge, AI-fueled Contract Lifecycle Management (CLM) platform, today announced it has been included in the Spend Matters “Future 5” list of outstanding procurement technology startups. The list includes a select group of successful startups making a difference in procurement technology.
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“We are honored to receive this recognition as we work to streamline the entire contract process, enabling procurement efficiency while helping companies accelerate topline revenue and save valuable time,” said Hemanth Puttaswamy, CEO and Co-founder of Malbek. “Our approach to Contract Lifecycle Management is trusted by Fortune 500 customers and other large enterprise teams, as well as many small to mid-sized high-growth organizations. Our solution is used to unite Legal, Sales, Finance, and Procurement teams, taking the hassle out of the entire contract process.”
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Vendors listed are independently selected by the Spend Matters analyst team over multiple rounds of debate meeting certain criteria including:
- Is less than five years old
- Has an innovative, interesting application of technology
- Maintains clear momentum and sustainability
“Never has procurement technology been more front of mind for businesses,” said Nick Heinzmann, Analyst Team Lead at Spend Matters. “With companies heavily scrutinizing their supply chains and bottom lines to protect against volatility, the procurement technology space has in 2021 gained only greater notoriety — from customers and investors alike.”
Contract management pitfalls, such as missed contract milestones, erode an average of 9.2 percent of revenue annually. Understanding these gaps in the market, Malbek was born with a vision to offer next-generation contract management that both delights the user and accelerates ROI. In a very short period, Malbek has proven itself as a trusted contract management solution provider for global customers across multiple industries, increasing sales nearly 500% year over year and exponentially increasing subscription revenue.