SirionLabs Announces US Launch; Anticipates More Than $140 Million in Hard Savings for its Customers in 2017
SirionLabs, the industry-leading provider of advanced supplier governance technology, today announced the establishment of its US headquarters in Dublin, California. The company also announced compelling growth metrics for the coming year that underscore its accelerated momentum in the procurement sector.
SirionLabs’ flagship product, Sirion – the only integrated SaaS platform that manages the post-signature performance of complex contracts – is expected to save customers more than $140 million in 2017. SirionLabs first established its presence in 2012 in Gurgaon, India, and currently works with a diverse portfolio of customers in industries such as oil and gas, healthcare, and insurance.
After a successful 2016, where the company saved its clients more than $68 million, SirionLabs’ predicts their growth as follows:
- SirionLabs customers are estimated to save more than $140M over the next year by managing their complex services contracts. These savings are on pace to reach $4 billion over the next five years and $20 billion over the next 10 years.
- Sirion expects to review 50,000 complex and more than 1 million simpler client contracts with a combined annual contract value of over $2.5 billion over the next year.
- Sirion will analyze more than $8 billion in total contract value over the next year.
SirionLabs’ new office in Dublin, CA joins the company’s pre-existing offices in India, the United Kingdom, Germany, Denmark and Singapore. The new US location will help the company scale in Silicon Valley and the US, as more and more enterprise customers demand a supplier governance offering capable of managing how well business outcomes are achieved across hundreds of complex contracts.
“We’re excited to establish a US presence, especially on the heels of such positive growth and a promising 2017 outlook,” said Ajay Agrawal, co-founder and CEO of SirionLabs. “The growth metrics we’re rolling out today speak to the enormous problem we’re fixing for enterprise companies, and why international expansion is necessary for us to continue enabling companies to extract the most value from their contracts.”
The establishment of SirionLabs’ US headquarters and 2017 growth metrics follow its placement on Fast Company’s World’s Most Innovative Companies list that was published earlier in the month. SirionLabs has recently earned a bevy of awards, including Nasscom’s 2016 Emerge 50 ‘League of 10’ Award; ‘Provider to Watch’ in Procurement Technology by Spend Matters; and inclusion in Gartner’s ‘Market Guide for Services Procurement Solutions’ Report for 2016.
For more information on SirionLabs, please visit http://www.sirionlabs.com/.
SirionLabs is the leading provider of enterprise SaaS products focused on the pre- and post-signature management of supplier engagements. SirionLabs’ proprietary suite, Sirion, significantly reduces the cost of supplier management function by automating complex procedures across key disciplines – contract, performance, financial, relationship and risk management. Its embedded workflows facilitate intricate real-world buyer-supplier interactions within the system by using contractual obligations as the core language. The high level of process automation cultivates trust, transparency and authenticity in sourcing transactions leading to strengthened buyer-supplier relationships, reduced value leakage, enhanced compliance and deeper insight into performance levels.