SirionLabs Unveils Several Patent-Pending AI Updates for Contract Lifecycle Management
Harnessing innovations in machine learning and natural language processing, the platform helps enterprises improve decision-making through automated data extraction, discovery and analysis
SEATTLE, WA – August 17, 2020 – SirionLabs, the leading AI-powered contract lifecycle management (CLM) platform, today announces the next phase of its evolution with several patent-pending applications to help businesses improve decision making and harness the full value of contracts.
The patents, which were filed over the last two years, deal with the automated extraction of performance segments and metadata values within contract documents, as well as the method and system for determining risk scores post analysis. They fulfill the promise of smart contracting technology with full visibility into obligations, entitlements and exposure to invoice leakage.
In addition to its central SirionCLM platform, SirionLabs has leveraged recent improvements in deep-learning technology to provide businesses with granular insights into contract documents to improve business outcomes.
It’s latest offering, SirionAE, goes beyond basic metadata to capture 100s of out of the box fields including clauses and service levels, and retrains itself on new contract types within days, versus weeks and months. Acting as a single source of truth across teams like finance, legal, operations, procurement and sales, the platform now processes more than 1M documents per day, where customers are seeing an increase in tasks through automation by as much as 50%.
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 technology to meet the needs of businesses in the digital age. The team is composed of enterprise experts from leading companies such as Google, Microsoft, IBM, Cloudera, and VMWare.
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 enables leading companies such as Vodafone, Unilever, BP and Fujitsu to manage 3.5+ million contracts across 100+ countries.
For more information, visit https://www.sirionlabs.com/.
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