Spend Matters Names SirionLabs a ‘Provider to Watch’ for Procurement Technology for the Third Year in a Row
Recognizing SirionLabs’ leadership in supplier management technology purpose-built for complex contracts
NEW YORK, May 17, 2018: SirionLabs, the industry’s leading provider of supplier management technology for complex contracts, today announced its recognition as a provider to watch for 2018 by Spend Matters.
Spend Matters, one of the top analyst firms in the procurement space, publishes the annual listing of ’50 Providers to Watch’ acknowledging companies that are empowering global enterprises to solve complex procurement challenges through innovative technology solutions. The listing is highly regarded as a go-to resource for procurement organizations for their vendor selection processes. After 2016 and 2017, this is the third time SirionLabs has been featured on this list.
“SirionLabs is a leader in supplier management technology purpose-built for post-signature management of complex services contracts. With services spend rising as a key contributor to overall expenditure in most large enterprises, the ability to manage strategic relationships in these scenarios, especially after contract signature, has become critical,” says Jason Busch, Founder and Managing Director at Spend Matters. “We’re thrilled SirionLabs made it onto the 2018 Spend Matters ‘50 to Watch‘ list. This list is the product of intense debate, discussion, and refinement each year by our analysts. SirionLabs earned a deserved spot as one of the procurement providers worth watching in 2018.”
“Most large enterprises spend over 50% of their procurement budget on services today. Traditional procurement technologies such as P2P or CLM just don’t offer the functionality depth needed to effectively manage this complex spend category, especially post-signature,” says Ajay Agrawal, Founder, and Chairman, SirionLabs. “We are very pleased to be recognized as a ‘provider to watch’ by Spend Matters. This is an acknowledgment of Sirion’s effectiveness in bringing buyers and suppliers closer to drive unprecedented value in complex services contracts.”
SirionLabs enables global enterprises to effectively manage all key aspects of their strategic supplier engagements – contract, performance, financial, relationship and risk management – on a single platform. With advanced capabilities such as automated extraction of contractual obligations, real-time visibility of supplier performance, auto-validation of invoices and data-driven relationship management, Sirion drives improved transparency and alignment in the buyer-supplier relationship through the complete contract lifecycle.
SirionLabs is transforming the contracting engagement between enterprises by bringing the contracting parties closer together across the full lifecycle of the contract – from authoring to performance to closure. Sirion’s award-winning platform serves as a single source of truth for both parties across all key disciplines – contracts, performance, financial, risk and relationship management. This collaborative and holistic approach materially reduces the friction between both parties, improving transparency and trust, driving tangible cost savings of 10% of ACV while reducing the cost of governance by 45%.
Visit us at www.sirionlabs.com for more information.