Hunting Mice While the Elephants Run WildDOWNLOAD WHITEPAPER
While demand in the food & beverage (F&B) sector grows at a healthy pace, it’s not all smooth sailing. From manufacturers and retailers to restaurants, the industry faces major challenges: market volatility, evolving consumer preferences, food safety regulations, increasing raw material and labor costs, etc. To overcome these challenges, F&B organizations are making a concerted effort to become more nimble and efficient. A significant part of the supply chain is outsourced with services such as logistics, distribution, facilities management, IT and back office functions comprising a major portion of this external spend.
But there’s a problem: Most F&B organizations are underequipped to manage the complexities of their services supplier engagements. The traditional, passive approach—doing it manually as an extension of the procurement function—fails to adequately ensure that suppliers deliver their contractual commitments, resulting in serious deficiencies in performance and financial value. What’s needed is a technology-led, analytics-driven solution to enable true alignment, transparency, and collaboration in services contracts.
Business processes (e.g. finance & accounting, rental and lease management, HR)
IT (e.g. application development and maintenance, architecture and engineering support, network, and service desk services)
A Fortune 500 F&B leader manages IT and BPO contracts worth $800M+ on Sirion
“Modern contract management must go beyond the traditional pre-signature focus.”
“Sirion combines core CLM components with supplier management capabilities.”
Sirion offers an AI-driven, integrated platform for F&B 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