22 November, 2016
The report discusses the emergence of specialized services procurement tools as a result of the inadequate support offered by general purpose procure-to-pay solutions for services procurement
Dublin, CA, 22 November, 2016 – SirionLabs, the leading provider of supplier governance and contract management technology solutions, today announced that it has been identified as a representative vendor in Gartner’s ‘Market Guide for Services Procurement Solutions’ report authored by Gartner analysts Magnus Bergfors and Desere Edwards. “IT leaders for procurement and sourcing solutions can use this research to find vendors that support their needs.”
The report describes the different types of services procurement solutions available and the specific use cases/service categories that they are designed for. While some solutions are designed to manage individual resources (freelancers and contingent workforce), other solutions such as services governance and MSA management solutions are “more focused on managing the contract than the individual, and offer support for obligation management, service-level agreement (SLA) tracking, key performance indicator (KPI) tracking and oversight. The solutions also extract contractual obligations and expenditures are monitored for compliance to negotiated rates and authorized totals.” Sirion has been cited as a specialist in the services governance and MSA management category.
This is the second Gartner report in 2016 where SirionLabs has been included as a representative vendor in the Services Governance category – the first being the ‘Hype Cycle for Procurement and Sourcing Solutions, 2016’ report by Gartner analysts Magnus Bergfors, Deborah Wilson, and Desere Edwards, published in August 2016.
“With trillions of dollars at stake across complex services, companies have now realized that the category of supplier governance is too important to be relegated to tools that were not designed for this purpose. We believe that our consistent recognition by Gartner for governance of services engagements reflects Sirion’s success in enabling organizations to secure financial value and business outcomes in their large services engagements.” said Ajay Agrawal, founder and CEO, SirionLabs.
SirionLabs’ SaaS product Sirion assists large organizations to manage their strategic services suppliers (e.g. IT outsourcing, BPO etc.) by extracting the obligations within contracts and tying the performance of those obligations to invoices received from suppliers. By streamlining the way strategic services suppliers are managed, Sirion enables organizations to reduce the value leakage in those engagements by as much as 15-20% of annual contract value.
Gartner subscribers can read the full report here – https://www.gartner.com/doc/3464517/market-guide-services-procurement-solutions.
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
SirionLabs is the leading provider of enterprise SaaS products for post-signature management of complex services. Sirion significantly reduces the cost of supplier governance by automating complex procedures across key governance disciplines – contract, performance, financial, relationship and risk management. The high level of process automation cultivates trust, transparency and authenticity in sourcing transactions leading to strengthened buyer-supplier relationships, reduced value leakage, enhanced compliance and deeper insight into performance levels.
Indus Khaitan, Chief Marketing Officer, SirionLabs
Jenna Mukuno, Senior Account Executive, VSC on behalf of SirionLabs
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