How BP is Leveraging Technology to Energize Supplier Relationship ManagementWATCH WEBINAR
With commoditized products, changing distribution models, uncertain demand and volatile pricing, the conventional energy sector faces a formidable challenge: Lowering operating costs while continuously driving innovation and efficiency. External factors such as natural disasters, cartelization, geopolitical challenges, and the emergence of alternative energy sources make it even more difficult. This is why the energy industry has increased its reliance on external suppliers to provide critical business outcomes, both in ongoing operations like IT as well as to drive engineering breakthroughs (seismic imaging, acoustic sensing, reservoir simulation, etc.).
In an industry that outsources almost everything, the traditional, manual approaches for managing these critical services contracts are due for a major upgrade. A significant opportunity exists to recapture margins and improve buyer-supplier relationships through integrated management of such engagements across the full lifecycle of the contract.
Back office (e.g. finance & accounting)
Engineering and infrastructure services
Facilities management and security
IT (e.g. service desk, hosting, end-user computing, application development and maintenance)
“Since implementing Sirion, we have seen an over 190% return on our investment.”
Noble Energy uses Sirion to manage midstream services contracts
“The most innovative new software player we’ve seen recently in complex third-party management is SirionLabs.”
Sirion offers an AI-driven, integrated platform for energy companies to manage contracts, performance, invoices and relationships in buy-side services contracts.
Gain complete visibility and control over your contract portfolio through Sirion’s powerful contract repository: Leverage hierarchical document storage, auto-extraction of contract data, and advanced change management capabilities
Easily identify and correct invoicing discrepancies by auto-validating invoice data against underlying contractual obligations and performance data
Improve performance delivery with a comprehensive and automated approach that streamlines the capture, computation and monitoring of obligations and service levels, and link performance to real business impact
Drive improved alignment and collaboration between buyer and supplier teams through a shared view of contract and performance data, and through data-backed relationship governance