Discover how Sirion's AI-powered CLM can help you manage the full lifecycle of customer contracts.
The raison d'etre for the IT and BPS (Business Process Services) industry can be summed up in two words: cost efficiency. IT and BPS organizations typically work as an extension of their customers’ business and, as result, occupy a critical position right in the middle of the value chain. On one hand, they need to accelerate new customer onboarding, meet contractual obligations, and demonstrate consistent ROI to drive account growth conversations. On the other, they need to unlock the full value of their supplier contracts to stabilize spending and reduce overheads by automating the onboarding of new suppliers and employees to support their people and technology requirements. However, the underlying contract management processes are siloed across business functions and manually driven, with little to no embedded risk controls or insights into past performance and delivery data. This is turn leads to delivery misalignments and subsequent revenue and spend leakage, EBITDA erosion, and disputes, creating a vicious cycle of expensive inefficiencies.
"With Sirion, companies can enjoy far better visibility into contracts and greater control over fulfillment of performance obligations."
For IT and BPS enterprises, profitability depends on how fast and efficiently they can scale their operations to meet contractual obligations and SLAs to their customers. In this regard, they need a CLM solution that enables them to manage contracts, performance, risk, and relationships across buy- and sell-side accounts, while minimizing value leakage and boosting revenue recognition. With SirionOne, IT and BPS businesses can dramatically reduce overheads and contracting inefficiencies by taking a technology-first approach to contracting.
Enable self-service contracting to help sales teams close deals faster, and empower business functions such as procurement and HR to accelerate onboarding of new suppliers and employees.
Gain 360-degree visibility into buy- and sell-side agreements through a single pane of glass to monitor all contractual obligations, service levels, milestones, renewal and expirations dates, and more.
Digitize existing contract portfolio and mine it for pricing and volume insights that can help drive future negotiations, inform repapering and amendment exercises, and keep supplier and customer contracts aligned with scope, regulatory and market changes.
Leverage AI to uncover risk elements buried deep within contracts, assess their probable impact, and take corrective action using data-driven insights.
Analyze spend, forecast revenue, and monitor DSO trends to improve budgeting accuracy, boost revenue recognition, and streamline cashflow.
Capture performance data and leverage it to generate proforma invoices and auto-validate supplier invoices to eliminate underbilling and overpayments and prevent hard value leakage.