(US and Canada) Hemanth Puttaswamy, Malbek Co-Founder and CEO, speaks with Andy Park, Team Central VP and Co-Founder, in a video interview about Malbek as a contract lifecycle management (CLM) solution, the problems it solves, its target audiences, and how it stands out among the competition.

Malbek is a contract lifecycle management solution (CLM) that helps complete contracts for any business-to-business transaction across industry sectors. Puttaswamy states that agreements can hurt if not managed well. If managed well, they can bring in advantages like deal velocity, reducing revenue leakage, and understanding the commitment across the business. He adds that the goal is to build a solution that is easy to implement, configure, and adopt.

He says that the industry is still in its infancy, and most companies need proper CLM. The product market fit analysis for Malbek was driven by personal experiences, high demand, and difficulty in implementing existing solutions.

According to Puttaswamy, Malbek has three major differentiators:

• Usability and adoption.
• Ability to integrate with no code.
• Infusion of AI throughout the life cycle.

Regarding implementation methodology, he says that small customers require about 45 to 60 days and large ones could require up to four months. He explains, however, that the time is mainly needed to gather the requirements, understand the business processes across stakeholders, and put the business process in place. He adds that the biggest stakeholders are sales, procurement, legal, and finance.

Describing a customer success story, Puttaswamy mentions the case of a unicorn that used to take a week to draft a contract. That week-long period was reduced to a minute, and it eventually became self-service for the sales team. Similarly, large Fortune 500 organizations could reduce it to weeks from months.

He also mentions that Malbek has more than 30 integrations with CRMs, ERPs, and storage. It can also adapt to the schema changes and the changing dynamics of every part of the life cycle.

When asked about the market’s future, Puttaswamy says that the contract is not a static document but a living, breathing lifecycle. He believes that the next wave will be to build a seamless bridge between sales and finance along with procurement and finance and continuously monitor the obligations.

CDO Magazine appreciates Hemanth Puttaswamy for sharing his insights and data success stories with our global community.