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SirionLabs Named a Leader in 2021 Buy-Side Contract Lifecycle Management by IDC MarketScape in Latest Vendor Assessment

SirionLabs’ platform recognized for its patent-pending machine learning, natural language processing, and artificial intelligence capabilities for auto-capture of key contract data

SirionLabs, the leading AI-powered smarter contracting platform, today announced it has been recognized as a Leader in IDC MarketScape’s 2021 buy-side contract life-cycle management vendor assessment. In its evaluation, IDC highlights SirionLabs’ AI-powered technology, ability to enable smarter contracting, and distributed ledger architecture as central strengths of its platform.

The IDC MarketScape Worldwide SaaS and Cloud-Enabled Buy-Side Contract Life-Cycle Management Applications 2021 Vendor Assessment evaluates the CLM providers enabling digital procurement as more companies move toward a truly digital business. Selected ‘leader’ solutions are determined for their ability to excel in:

  • Greater Intelligence 
  • Predictive Features 
  • Better Data Visualization 
  • Highly Flexible Reporting 
  • Robust Data Security 
  • Value for the Price Paid 
  • Suite Versus Best of Breed 

“Industry recognition such as this, coupled with our high customer satisfaction, validates our approach and firmly establishes us as a leader in our category,” said Rajeev Kumar, Chief Revenue Officer of SirionLabs. “Our goal is to continue to provide our customers with the smarter contracting solutions that unlock the value hidden in their contracts to improve their partnerships and bottom-line.” 

Within the report, IDC MarketScape notes that SirionLabs streamlines contract management by leveraging “patent-pending machine learning, natural language processing, and artificial intelligence capabilities for auto-capture of key contract data — metadata, business outcomes (obligations, service levels), computational objects (base charges, rate cards, pricing adjustments), and risks (regulatory, liability, indemnity) — converting inert data into trackable objects.” A testament to the platform’s value, SirionLabs’ “advanced automation approach reduces contract management effort and cost by 60%.”  

To know more about IDC MarketScape: Worldwide SaaS and Cloud-Enabled Buy-Side Contract Life-Cycle Management Applications 2021 Vendor Assessment, contact us 

IDC Disclaimer: 

IDC MarketScape criteria selection, weightings, and vendor scores represent well-researched IDC  judgment about the market and specific vendors. IDC analysts tailor the range of standard characteristics by which vendors are measured through structured discussions, surveys, and interviews with market leaders, participants, and end-users. Market weightings are based on user interviews, buyer surveys, and the input of IDC experts in each market. IDC analysts base individual vendor scores, and ultimately vendor positions on the IDC MarketScape, on detailed surveys and interviews with the vendors, publicly available information, and end-user experiences in an effort to provide an accurate and consistent assessment of each vendor’s characteristics, behavior, and capability. 

About SirionLabs 

SirionLabs, the SaaS leader in enterprise contract management (CLM), helps enterprises manage the complete contracting lifecycle on a single, easy-to-use platform. 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. 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 www.sirionlabs.com

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