SirionLabs named a representative vendor in Gartner’s ‘Technology Insight for IT Vendor Performance Management Tools’ report
IT vendor performance management tools enable buyer organizations to measure and analyze vendor performance against contractual obligations, and conduct advanced analytics
Troy, MI, USA, 16 November, 2015: SirionLabs, the leading provider of advanced vendor management technology products, today announced that it has been included as a representative vendor in Gartner’s ‘Technology Insight for IT Vendor Performance Management Tools’ report. Published on October 23rd, the report is authored by Gartner analysts Joanne Spencer, Christopher Ambrose and Magnus Bergfors.
The report highlights the role of vendor performance management tools in enabling systematic performance assessment, enhancing visibility into spend and performance, reducing vendor costs, and mitigating risks in IT services engagements. The report states, “By delivering intelligence that is timely, relevant and actionable, vendor performance management tools are intended to enable organizations to make better-informed vendor selection decisions, and to support vendor relationship management and vendor risk management (VRM) activities by identifying troubling performance trends and proactively working with vendors to improve performance.”
“Organizations often miss out on leveraging IT as a source of competitive advantage due to the lack of alignment between vendor performance and business objectives. The lack of real time visibility into delivered performance as against the underlying contractual obligations leaves buyers exposed to risks of supplier failure, business disruption and value leakage”, said Ajay Agrawal, Founder and CEO, SirionLabs, adding, “Sirion’s granular, obligations driven approach to performance management, and its advanced analytical capabilities address this gap by offering end-to-end visibility into vendor performance. We believe this recognition by Gartner emphasizes Sirion’s position as a leading vendor performance management tool for IT services.”
Sirion harnesses the power of structured data to radically simplify vendor management, enabling organizations to extract maximum value out of their strategic sourcing relationships. Sirion integrates all key aspects of vendor management – contract, performance, financial, relationship and risk management – on a single platform enabling automated evaluation of vendor performance against underlying contractual obligations, and automated validation of invoices against performance and contract data.
Gartner subscribers can download the full report here – https://www.gartner.com/doc/3156120/technology-insight-it-vendor-performance
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