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Malbek Receives Strategic Achievement Award from the World Commerce & Contracting Association

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World Commerce & Contracting’s Innovation & Excellence Awards 2021 celebrate success stories from around the world

Malbek, today’s most cutting-edge, AI-fueled Contract Lifecycle Management (CLM) platform, announced it received the prestigious Strategic Achievement Award from the World Commerce & Contracting Association. Malbek’s application features its longtime customer, TIBCO Software Inc., and the organization’s use of AI to streamline contract review processes.

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“We are honored to receive this global award and congratulate all winners and finalists from what was a very crowded field,” said Matt Patel, COO of Malbek. “Malbek’s AI-powered contract lifecycle management solution brings people together to collaborate on strategic organizational initiatives, such as improved processes, risk reduction, and cost savings. We find that when people come together and use technology in meaningful ways, the ideal quickly becomes a reality.”

With an M&A-focused growth strategy, TIBCO needed a scalable, AI-charged CLM solution to streamline due diligence and contract review processes during acquisitions. Using Malbek, TIBCO accelerated their M&A transaction timeline and increased efficiency across global teams with seamless post-acquisition contract ingestion.

“Due diligence and contract review processes during acquisitions are complex and often time consuming,” said Rafael Carmona Toscano, Sr. VP, Deputy General Counsel at TIBCO. “With the help of Malbek’s AI functionality, we were able to accelerate our growth strategy and increase efficiency across our global teams.”

The World Commerce & Contracting Innovation & Excellence Awards 2021 celebrates success stories from around the world, comprising three regional competitions, culminating in an overall global winner in each category. This year’s categories were Operational Improvement, Strategic Achievement, Outstanding Cooperation and Collaboration, Delivering Social and Economic Benefit, and Personal Initiative.

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