Malbek Recognized as Contract Lifecycle Management Leader in Spend Matters’ Spring 2022 SolutionMap

Contract & E-SignatureArtificial Intelligence (AI)

By STS News Desk On Jun 2, 2022

Malbek Unveils Generative AI Functionality to Streamline Contract Insights and Recommendations

Industry-trusted analyst firm includes Malbek again as a leader in the CLM industry

Malbek, the most cutting-edge, AI-fueled Contract Lifecycle Management (CLM) platform, was recognized as a CLM leader in Spend Matters’ Spring SolutionMap. Known as the most rigorous, data-centric functionality assessment of procurement technologies in the industry, SolutionMap contains 500+ RFI requirements across 10 source-to-pay module and suite technology categories to pinpoint the actual capabilities of each participating vendor. Customer feedback also factors into where vendors rank on the maps.

“Being recognized again as a CLM Leader by Spend Matters is particularly important to us since customer feedback plays an integral role in spotlighting leading companies,” said Hemanth Puttaswamy, CEO and Co-founder of Malbek. “Being included on the SolutionMap again is a validation of our ongoing growth, innovation investments, and customer success initiatives. We remain laser focused on enabling customers of all sizes to modernize their contract lifecycle management.”

SolutionMap is updated and published every six months to accurately reflect solution updates. Since its launch 5 years ago, SolutionMap rankings have been consulted more than 270,000 times by procurement professionals. When preparing SolutionMap, Spend Matters takes the following assessment elements into account:

All elements of a technology
Integrations
Supplier experience
Front end users and administrators’ user experience

“The real advantage of using the persona-based SolutionMap approach in CLM is the ability to map market segments individually to your own organizational requirements, wants and needs,” said Pierre Mitchell, Chief Research Officer at Spend Matters. “If you only need basic buy-side CLM support as part of a broader procurement suite, there’s one set of plentiful options. If you want deeper enterprise CLM, that requires other options. And if you want to push the boundary and have the solution actually help you diagnose and improve the contract language itself (e.g., using AI), then only a few providers are rising to the top to seize this emerging opportunity.”

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