NEW YORK--(BUSINESS WIRE)--SirionLabs, the provider of the world’s most advanced contract performance management platform, today announced that it has been ranked as a Value Leader in the 2018 Spend Matters Contract Lifecycle Management (CLM) SolutionMap - a comprehensive benchmarking framework to assist procurement practitioners to evaluate the right procurement solutions for their needs. Value Leader is the highest designation in the analysis indicating both high customer and analyst scores.
The SolutionMap framework offers an analytical view of the contract management software landscape based on solution capability, customer scores and customer personas (organization types and needs). SirionLabs is ranked ahead of all other providers, most of whom have been in the market for decades, outscoring competitors with its superior combination of solution capability and customer value across all four customer personas – Deep (highly sophisticated and rigorous needs), Turn-Key (focused on outcomes and ROI), Configurator (unique requirements requiring flexibility) and CIO Friendly (strong IT influence and investment for buying decisions).
A complimentary copy of the CLM SolutionMap report is available for download on the Spend Matters website.
“Contract Lifecycle Management (CLM) is about managing the ultimate commercial system of record: the contract. The technology market has morphed from managing legal documents (even digitized ones) to managing atomic-level commitments that include not just legal obligations with counterparties like suppliers, but also tying into broader risk, compliance, and performance management areas,” said Pierre Mitchell, Chief Research Officer at Spend Matters.
“We are thrilled to be ranked as Value Leader in Spend Matters’ SolutionMap for contract management software,” said Ajay Agrawal, Chairman and Co-Founder of SirionLabs. “Contract lifecycle management as a category is rapidly rediscovering itself as contract performance management. As the majority of enterprise spend today - estimated at 70% - comprises of services and complex goods, procurement needs a new way of managing supplier engagements. With Sirion, enterprises can now create stronger, outcome-driven contracts based on actual performance data. Further, Sirion’s ability to auto-validate supplier performance and invoices drives the desired business outcomes while delivering tangible savings. The effectiveness of Sirion’s approach is accurately captured in the results of this SolutionMap.”
SirionLabs enables enterprises to effectively manage all key aspects of strategic supplier engagements – contract, performance, financial, relationship and risk management – on a single platform. With advanced capabilities such as automated extraction of contractual obligations, real-time visibility of supplier performance, auto-validation of invoices and data-driven relationship management, Sirion drives improved transparency and alignment in the buyer-supplier relationship through the complete lifecycle of the contract.
SirionLabs is transforming the contracting engagement between enterprises by bringing the contracting parties closer together across the full contracting lifecycle – from authoring to performance to closure. Sirion serves as a single source of truth for both parties across all disciplines – contracts, performance, financial, risk and relationship management. This holistic approach minimizes the friction between both parties, drives tangible cost savings of 10% of ACV while reducing governance cost by 45%.
About Spend Matters
Spend Matters is the leading solution intelligence source for procurement and supply chain professionals. Combining deep technology analysis and tailored advisory services with daily news coverage and subscription research, Spend Matters is trusted by CPOs, consultants, investors and solution providers alike as their procurement technology intelligence partner. Spend Matters is owned and managed by Azul Partners, Inc.