Sirion believes its recognition as a Leader in this report reinforces its place as one of many key suppliers of enterprise contract administration expertise.
The Gartner report states: “Leaders are in the strongest position to influence the market’s growth and direction. They demonstrate a market-defining vision for how CLM technology can help companies achieve the business objectives of managing compliance and reducing process bottlenecks. Leaders can execute against that vision through products and services, and have demonstrated business results in the form of revenue and earnings. They excel in their combination of market understanding, innovation, product features and functions, and overall viability.”
Sirion’s key differentiators in the CLM business are its capability to extract and arrange the info in contracts to generate business worth, in addition to to observe and handle efficiency after the contract is signed. Sirion’s AI-based platform, SirionOne, excels in automating the authorized assessment and negotiations course of, digitizing legacy contracts, and enabling superior threat evaluation and analytics throughout the contract portfolio.
“The demand for CLM as a mission-critical asset for businesses has been growing rapidly,” mentioned Ajay Agrawal, Sirion’s Founder and CEO. “I’m pleased that our comprehensive approach to CLM that extends to keeping track of performance after the contract is awarded is recognized. Even more gratifying is the fact that feedback from our customers played a key role in earning this recognition.”
“To help more than half a billion people stay connected, Vodafone needs to effectively manage thousands of supplier contracts,” mentioned Ninian Wilson, CEO Vodafone Procurement Co. “By working with Sirion, we digitized our contracts, and we now manage to automatically identify and fix areas where value leakage, performance issues and service level deviations could negatively impact business outcomes. We also made a dent in the time- and cost-consuming inefficiencies of manual contracting processes. All told, we achieved cost savings and improved risk mitigation while boosting both supplier performance and customer experience. We’re pleased for Sirion that Gartner has recognized it as a Leader in the contract management software space in its latest Magic Quadrant.”
This 2022 analyst report comes at a momentous time not simply in the CLM market, however in the expansion trajectory for Sirion. Recognized as a Value Leader in Spend Matters’ Spring 2022 SolutionMap for Contract Lifecycle Management, in addition to a chief in the 2021 Forrester Wave for Contract Lifecycle Management and the 2021 IDC MarketScape for CLM, Sirion just lately doubled its capitalization with an $85 million Series D funding to help scaling its operations and speed up its growth, high quality assurance and check automation talents.
Gartner disclaimer
Gartner, “Magic Quadrant for Contract Life Cycle Management”, Patrick Connaughton, Kaitlynn Sommers, Micky Keck, 12 October 2022.
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