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The emergence of the services economy over the past couple of decades – driven by the rise of outsourcing, cloud computing and Goods-as-a-Service (GaaS) – has created a $21T market for services ranging from IT, BPO, facilities management and logistics to telecom, healthcare, aviation and construction.
Over the past five to eight years, there has been a dramatic shift away from larger, monolithic deals to smaller, multi-sourced contracts. This combined with increasing costs and competition puts greater pressure on enterprises to protect and improve revenue and profitability in strategic customer accounts. Enterprises need to transform the way they currently manage the order-to-cash (O2C) lifecycle in strategic accounts.
The traditional O2C process is disjointed, manual and distributed across different enterprise functions (sales, delivery, finance, etc.), which makes it more susceptible to risks, inefficiencies and financial leakage. Traditional enterprise technologies such as ERP, CRM and CLM, meanwhile, have struggled to support O2C process for non-PxQ revenue streams (i.e. services). The ineffective handling of the O2C process results in 3.8%-10% of revenue leakage through over-delivery/under-billing, poor account-level EBITDA from excessive governance costs, strained relationships due to inconsistent delivery performance and a general lack of transparency.
Enter Sirion. Sirion enables tight alignment between sales, legal, service delivery and finance by automating key O2C processes – contract management, delivery governance, invoice auditing and collaboration with customers – on a single, integrated platform. This results in improved revenues and profitability, reduced compliance risk and enhanced relationships in strategic accounts.
Watch how Sirion can help you take CLM to the next level.
Sirion enables a revenue increase by 2%-5% through tight alignment between contract, performance and invoicing, and improves account-level EBITDA by reducing account governance costs by 60% through automation.
Sirion enables enhanced account growth through improved contract delivery which in turn drives customer satisfaction and credibility.
Sirion creates a single source of truth providing clear evidence of the delivered value to clients. improved transparency and alignment enhances collaboration with customers enabling a strong competitive advantage.
Manage key O2C disciplines – contract management, performance management, invoice auditing and collaboration – on a single, integrated platform
Centrally store all customer contracts in Sirion’s hierarchical contract repository with AI-driven granular metadata capture and advanced analytics for a clear view of opportunities and risks in the portfolio
A comprehensive view of individual obligations and service levels promised to the client, enabling enhanced alignment
Real-time monitoring of performance against contractual obligations and service levels allows proactive management and timely correction of delivery performance
Automated invoice validation for improved alignment between the contracted scope, price book, actual delivery and invoices minimizes the revenue loss from under-billing or over-delivery
With end-to-end tracking of governance activities—meetings, issues, actions and claims/disputes—Sirion enables data-based management of customer relationships
Sirion creates a single source of truth by seamlessly connecting people, data and systems to drive strong collaboration within an enterprise as well as with client organizations
SirionBI makes it easy to track progress, identify trends and take proactive steps to address emerging issues in client engagements
Fujitsu leverages Sirion to drive improved customer value in IT services contracts
“Modern contract management must go beyond the traditional pre-signature focus.”
“Sirion is one of the few contract management systems that can consistently demonstrate an ROI.”