Energy

Sirion helps energy companies create an integrated, enterprise-wide view of strategic supplier engagements, driving savings and supplier performance while enhancing buyer-supplier collaboration

Energy

Energizing Savings and Relationships in Outsourcing Contracts

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.

Key Services Outsourced

  • 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)

  • Logistics

  • Oceaneering

  • Telecom

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.”

The Challenges

  • Much of the third-party spend (44%) is focused on buying services vs. buying goods/commodities, making in-life management of contracts even more important
  • Understaffed and manual contract governance capability with supplier obligations tracked on spreadsheets and ineffective tracking of contract changes
  • Clients rely heavily on suppliers to self-report performance and ensure invoicing accuracy—there’s very limited validation capability

Sirion for Energy

Sirion offers an AI-driven, integrated platform for energy companies to manage contracts, performance, invoices and relationships in buy-side services contracts.

Sirion Network

Sirion for Energy

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Easily identify and correct invoicing discrepancies by auto-validating invoice data against underlying contractual obligations and performance data

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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

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Use BI-powered analytics to gain unmatched visibility of risks and opportunities in the contract portfolio, enabling superior decision making at both operational and strategic levels

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