SirionLabs Recognized as Value Leader in Spend Matters CLM SolutionMapDOWNLOAD REPORT
Contracts are at the core of business relationships. Effective management of contracts across the lifecycle is necessary to realize full value and minimize risk. IACCM research indicates that, on average, poor contract management can bleed 9% of annual revenue.
As the world of transactional buying continues its shift from simple goods and commodities towards complex services, the business outcomes, and in turn, the contracts have become increasingly complex. With this increasing complexity, the traditional risk-centric approach to contract management must evolve to include the realization of intended business outcomes as its key objective. This transformation is proving to be a challenge as contract management at most organizations exists in a disjointed state with functional and technological silos separating pre-signature and post-signature disciplines.
Traditional contract management technology, with its truncated view of the contract lifecycle, focuses on the front-end authoring process and fails to effectively manage the contract after signature, leading to sub-optimal value realization and unwanted risk exposure.
Enter Sirion. Sirion Contract Lifecycle Management (CLM) enables legal and contract management teams to meet the complex needs of today’s businesses by offering seamless functionality across the complete lifecycle of a contract – from authoring and signature to active in-life management through termination.
Accomplish more in less time with an endless array of AI and automation capabilities – from a full-feature MS Word add-in to AI-driven analysis of counter-party paper
Leverage unprecedented analytics while you negotiate – perform version comparisons, access deviation & usage data, and analyze in-life performance trends of similar clauses
Manage risk at every step in a contract’s lifecycle – from ensuring compliance with company positions, templates and approval protocols to in-life contract management
Sirion’s clause and template libraries ensure all contracts adhere to standard company positions and templates, minimizing risk across the enterprise
Place a contract draft request and let Sirion guide the way: From suggesting which template to use to automatically populating key data throughout the draft, Sirion CLM automates the obvious
Sirion CLM applies proprietary NLP and machine learning algorithms to automate analysis of contract drafts against company-approved clause positions
No need for technology legalese: Sirion’s MS Word add-in enables users to negotiate, redline and compare drafts in the familiar MS Word environment, while providing native access to the enterprise clause library and saving new versions back to Sirion
Streamlined approval workflows to align with business processes and seamless eSignature integration for speedy and secure execution
Store all contract drafts, signed contracts, artifacts and business documents—including email communications—in a highly secure, centralized and easy-to-manage repository
Track renewals/expirations and ensure granular monitoring of post-signature milestones, deliverables and obligations
The sky’s the limit with SirionBI: Access out-of-the-box analytics on draft status, process bottlenecks, attorney management, time-to-closure, clause usage, deviation analysis, expiration/ renewals and in-life performance of clauses. Or just create your own!
“Sirion combines core CLM components with supplier management capabilities.”
“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.”