SirionLabs Named a Visionary in 2021 Gartner Magic Quadrant for Contract Life Cycle Management
Recognized in Gartner Magic Quadrant for the second year in a row, SirionLabs is placed second-furthest for Completeness of Vision
Seattle, WA — May 27, 2021 — SirionLabs, the leading provider of AI-powered contract lifecycle management (CLM) technology, today announced that it has been named a Visionary in the 2021 Gartner Magic Quadrant for Contract Life Cycle Management for the second year in a row. In a highly competitive CLM market, SirionLabs is one of 15 vendors recognized in this evaluation. Notably, SirionLabs is placed second-furthest for Completeness of Vision, which we believe reflects our strong innovation performance and deep understanding of the CLM market.
SirionLabs’ Visionary status in the Gartner Magic Quadrant for the second straight year is, in our opinion, validation of our strategy of continuous innovation to build the next generation of contract management technology and apps that expand the boundaries of the CLM category from a repository and workflow tool to a transformative, intelligence-driven contracting platform that both streamlines commercial operations and improves the bottom line for leading enterprises globally.
“CLM appeals to companies of all sizes in all industries. Implementing it can lead to significant improvements in revenue management, cost savings and efficiency,” wrote Gartner analysts Patrick Connaughton, Kaitlynn Sommers, Marko Sillanpaa, and Jim Murphy. “Understanding and automating CLM can also limit an organization’s liability and increase its compliance with legal requirements.”
“The ability to harness the intelligence contained in enterprise contracts is the next frontier of enterprise transformation. Since inception, SirionLabs has consistently delivered innovations leveraging AI to unlock this intelligence – from enabling advanced analytics of legacy contracts, to real-time risk assessment during contract creation and harnessing historical performance insights for improving new contracts,” said Rajeev Kumar, Chief Revenue Officer, SirionLabs. “We believe our Visionary status in Gartner Magic Quadrant for CLM for the second year in a row is a testament to the leadership role played by SirionLabs in elevating the position of CLM as a strategic business platform.”
SirionLabs’ platform leverages artificial intelligence to enable businesses to streamline the complete contracting lifecycle – from contract authoring and portfolio risk management to ongoing performance and compliance management – on a single, easy-to-use platform. By enabling fast and accurate insights across the entire contracting process, SirionLabs allows organizations to improve business performance, mitigate risk and strengthen customer and supplier relationships.
SirionLabs makes contract management easy and impactful for over 200 industry-leading organizations including Vodafone, Unilever and The Bank of New York Mellon. This latest recognition for SirionLabs follows a series of key industry accolades including the following:
- Named a Leader in The Forrester Wave™ for Contract Lifecycle Management 2021
- Named a leader in IDC’s 2021 MarketScape for Buy-Side Contract Life-Cycle Management Applications
- Positioned as a Value Leader in SpendMatters’ 2021 CLM Solution Map – for the seventh successive time
- Recognized by Fast Company as one of the Most Innovative Companies in the Enterprise segment in 2021
- Ranked as One of the Fastest Growing Companies in North America on Deloitte’s 2020 Technology Fast 500™
Download a complimentary copy of the 2021 Gartner Magic Quadrant for Contract Life Cycle Management report here.
Gartner, “Magic Quadrant for Contract Life Cycle Management,” Patrick Connaughton, Kaitlynn Sommers, Marko Sillanpaa, Jim Murphy, 10 May 2021.
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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