Malbek Selected by Fender as its Contract Lifecycle Management (CLM) Solution to Harmonize Global Contracting

SOMERSET, N.J., Jan. 20, 2022 /PRNewswire/ -- Malbek, today's most cutting-edge, AI-fueled Contract Lifecycle Management (CLM) platform, announced today that Fender Musical Instruments Corporation (FMIC), the world's leading guitar brand, has selected its CLM solution and proprietary Lifecycle AI™ module to scale contract management processes and unlock actionable contract insights.

"Fender needed a scalable CLM solution that would provide a single source of truth for contract data while also driving process efficiencies across the organization," said Danielle Koehler, Manager, Business & Legal Affairs of Fender. "We are excited to partner with Malbek to get more in-depth, actionable contract data insights that will save Fender valuable time, reduce risk, and accelerate topline revenue."

Prior to partnering with Malbek, FMIC's Legal Department faced challenges related to outdated CLM processes, leading to manual tasks that introduced contract risks and prevented the team from scaling. Fender ultimately selected Malbek for its fast and familiar user experience, ability to automate contract tasks via its Lifecycle AI module, and seamless integrations with daily business applications, such as eSignature providers.

"Music runs deep in every Malbek employee and it's core to our culture, so we are thrilled to welcome Fender to the family," said Hemanth Puttaswamy, CEO and Co-Founder of Malbek, "Since Malbek was founded, we have worked to transform contract management to unite the enterprise, just as Fender has transformed music, one guitar at a time."

• The Malbek platform is trusted by Fortune 500 customers and other large enterprise teams, as well as many small to mid-sized high-growth organizations, to take the hassle out of the entire contract process, allowing Legal, Sales, Finance and Procurement teams to achieve higher efficiencies in contracting processes and increased productivity.
• Malbek Contrax™ has proven to free up legal teams' time on contracts by as much as 70% by providing all business users with an intuitive, self-service experience. The majority of customers accelerate deal cycles by about 50% within the first quarter of implementation.
• The Malbek Konnect™ Integration Marketplace allows business users to integrate Malbek with their daily business applications through no-code, drag-and-drop software connectors requiring no involvement from IT. Key integrations include Salesforce, MS Dynamics, HubSpot, ERPs, Slack, eSignature providers, and many more.
• Malbek Lifecycle AI™ puts the "L" in CLM, serving as the lifeblood of Malbek Contrax by providing users with timely insights and recommendations every step of the way—both pre and post-signature. Comprehensive, built-in capabilities help streamline contract authoring, review, negotiation, approval, and milestone management.

About Fender Musical Instruments Corporation:
Since 1946, Fender has revolutionized music and culture as one of the world's leading musical instrument manufacturers, marketers and distributors. Fender Musical Instruments Corporation (FMIC)–whose portfolio of owned and licensed brands includes Fender®, Squier®, Gretsch® guitars, Jackson®, EVH®, Charvel®, Bigsby® and PreSonus® –follows a player-centric approach to crafting the highest-quality instruments and digital experiences across genres. Since 2015, Fender's digital arm has introduced a new ecosystem of products and interactive experiences to accompany players at every stage of their musical journey. This includes innovative apps and learning platforms designed to complement Fender guitars, amplifiers, effects pedals, accessories and pro-audio gear, and inspire players through an immersive musical experience. FMIC is dedicated to unlocking the power of musical expression for all players, from beginners to history-making legends. In 2021, Fender celebrated 75 years of giving artists "wings to fly," carrying on the vision of its founder, Leo Fender, and connecting players through a shared love of music.

About Malbek
Malbek is today's most modern, cutting-edge CLM solution with a proprietary AI core that empowers the enterprise to do more with less. By supporting the growing contracting demands of your entire organization, including Legal, Sales, Finance, Procurement, and other critical business units, Malbek's CLM solution delights every user. Malbek provides end-to-end contract lifecycle management with out-of-the-box integration to popular business applications, like Salesforce, Workday, Slack, Office 365, and others, allowing your contract data to flow seamlessly while dramatically reducing cycle times. That's contracts reimagined! To learn more, visit www.malbek.io.

FENDER (standard and in stylized form), and the distinctive headstock shapes commonly found on FENDER instruments are trademarks of Fender Musical Instruments Corporation and/or its affiliates, registered in the U.S. and other countries.

SOURCE Malbek

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