SEATTLE--(BUSINESS WIRE)--SirionLabs, the global leader in AI-powered contract lifecycle management (CLM), today announced it has been named a Leader in the IDC MarketScape: Worldwide SaaS and Cloud-Enabled Buy-Side Contract Life-Cycle Management Applications 2023 Vendor assessment (doc #US48785822, March 2023). Sirion attributes this recognition to its success in developing category-defining innovation, driving growth and highlighting unique capabilities in the CLM market and high customer satisfaction.
An excerpt of the IDC MarketScape for Buy-Side Contract Life-Cycle Management Applications 2023 Vendor Assessment report can be downloaded here.
The IDC MarketScape evaluates CLM providers that are enabling digital procurement as businesses continue to embrace digital transformation. Sirion believes the IDC MarketScape's evaluation underscores its platform’s core strengths, including its AI-powered technology, capacity to enable smarter contracting and distributed ledger architecture.
“In today’s procurement environment, efficiency and costs savings remain important but there’s also a sharp focus on intelligently collaborating with your supplier partners to drive enterprise value,” said Ajay Agrawal, Founder and CEO of Sirion. “Sirion’s AI-led capabilities, including obligation management, performance management and contract analytics, provide procurement leaders with an indispensable tool for transforming their supplier relationships. We’re pleased to have Sirion’s value to the procurement function acknowledged with our recognition as a Leader in the IDC MarketScape.”
The report noted that “SirionLabs’ obligation management capabilities are highly developed, providing real-time service-level management, intuitive performance management dashboards, and high visibility into the fulfillment of performance obligations.”
This recognition continues the momentum Sirion is experiencing in the market from analysts and customers alike, following closely after the CLM platform was named a Customers’ Choice in the 2023 Gartner® Peer Insights™ Voice of the Customer for CLM report. Sirion was also recognized by Gartner as a leader in the 2022 Magic Quadrant for Contract Life Cycle Management; ranked first in three of five use cases—including for full lifecycle enterprise CLM—in the 2022 Gartner® Critical Capabilities for Contract Life Cycle Management; and named a Leader in both the 2021 Forrester Wave and the IDC MarketScape: Worldwide Contract Life-Cycle Management Software for Corporate Legal 2021 Vendor Assessment (doc #US46965921, November 2021).
To learn more about Sirion CLM, please visit: https://www.sirionlabs.com/
About IDC MarketScape
IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor's position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.
Bringing together category-leading innovation, unrivaled Contract Lifecycle Management expertise, and a deep commitment to customer success, Sirion helps the world’s leading businesses contract smarter. Powered by intelligence uniquely connected across the complete contract lifecycle, Sirion’s easy-to-use, highly configurable Smarter Contracting platform brings legal, procurement, sales, and business teams together to author stronger contracts, improve risk management and strengthen counterparty relationships. Sirion is trusted by over 250 industry-leading organizations, including Vodafone, Unilever, and The Bank of New York Mellon, to manage 5+ million contracts worth more than $450 billion across 70+ countries. For more information, visit www.sirionlabs.com.