Navisco and SirionLabs announce Strategic Partnership to Offer an Integrated Solution Combining Best-in-Class Sourcing Strategies with AI-powered Contract Management Technology
Partnership to focus on helping clients in the DACH region get the most value from their commercial contracts
January 12, 2021 – HAMBURG, ZURICH AND SEATTLE – Navisco AG, a leading IT sourcing advisor in the DACH region, and SirionLabs, the leader in AI-powered Contract Lifecycle Management (CLM) technology, today announced a strategic partnership to deliver state-of-the art provider & contract management automation solutions combining Navisco’s consulting and sourcing expertise with SirionLabs’ AI-powered contract management technology.
“Enterprises invest significant resources into future-proof sourcing strategies accompanied by intensive contract negotiations. During the pre-signature contracting phase, a strong focus is given to well defined Service Levels and KPIs as the underlying basis to measure the achievement of quality and business case objectives for our clients.” says Hendrik Albers, Executive Board Member responsible for Digital Provider & Contract Management Solutions at Navisco AG. “Due to the increasing complexity of contracts in an as-a-service economy, their high business impact and the strong dependency on customer-provider collaboration, it takes more than excellent sourcing to realize the expected value. At the post-signature stage, it requires standardized, scalable and state-of-the-art methodology and technology to ensure that the customer realizes the intended business value. Our partnership with SirionLabs will make it easier for organizations to streamline the end-to-end provider management process on a single, integrated platform.” he adds.
With its next-gen CLM platform offering unmatched pre and post-signature contract management functionality, SirionLabs enables customers to realize the intended sourcing value and objectives by providing insights and answers for the retained organization during the operational phase. The trend towards multi-provider sourcing and cloud computing has, in particular, accelerated the need for enterprises to focus on technology & methodology to drive enhanced efficiency and quality in commercial engagements. The need for technology is further amplified by the scarcity of contract management talent in this market.
This partnership is an important development for both SirionLabs and Navisco combining cutting-edge technology with local know-how in a highly mature DACH region market where most enterprises have understood by now that digitalization of provider and contract management is not a question of whether, but how. Sirion’s platform simplifies this journey by automating the creation of new contracts, digitization and analytics of legacy contracts and ongoing governance of strategic contracts on a single, easy-to-use platform.
“Digital transformation is a key priority for businesses in the DACH region. We see a huge potential for contract management automation within the broader digital transformation strategy due to the high level of outsourcing maturity in the region.” said Amol Joshi, Chief Revenue Officer at SirionLabs. “This partnership puts us in a strong position to address this potential by combining our CLM technology leadership with Navisco’s regional presence and expertise. We look forward to working closely with Navisco to further expand our market presence and growth in the region.”
With 20 years of specialized expertise and more than 400 projects in Benchmarking, Sourcing and Transformation, Navisco AG has become one of the leading independent Sourcing Advisors in Germany, Austria and Switzerland. Navisco supports leading international corporations to assess and optimize their IT organization, application landscape and their IT infrastructure services in order to enable digitalization and generate higher business value. Navisco’s sourcing engagements comprise benchmarking, cloud sourcing strategies and transforming external outsourcing contracts and offering digital provider management service. Navisco is independent from service providers, technologies and invests about 10% of the yearly revenue into best practice reference models, people and research projects.
SirionLabs, the SaaS leader in enterprise contract management (CLM), helps enterprises manage the complete contracting lifecycle on a single, easy-to-use platform. Founded in 2012, SirionLabs applies breakthroughs in artificial intelligence to meet the needs of businesses in the digital age.
Sirion’s AI-powered capabilities – from smart contract authoring to auto-contract extraction, advanced obligation management and collaboration – enable enterprises to drive business velocity and outcomes, reduce risk and enhance revenue and savings in commercial engagements. With more than 500 employees across three continents, SirionLabs is trusted by the world’s most successful organizations to manage 3.5+ million contracts worth over $300 billion across 100+ countries. For more information, visit sirionlabs.com.
Media Contact for SirionLabs