Transform Supplier ManagementDOWNLOAD WHITEPAPER
The procurement landscape has undergone a significant shift over the past two decades. Back in the early 90s, enterprises primarily bought goods and commodities; now, 58% of the aggregate procurement spend is focused on buying services (Source: US Bureau of Economic Analysis).
Most procurement environments are ill-equipped to handle the complexities of service engagements. As traditional procurement technologies (ERP, P2P, CLM) were primarily designed for managing goods/commodities, they lack the functionality needed to manage services contracts effectively. As a result, a mix of disjointed systems and manual workarounds is deployed, resulting in sub-optimal business outcomes and up to 20% of the contract value being lost through hard and soft leakage.
Enter Sirion. Sirion empowers large enterprises to manage their services suppliers effectively through its rich in-life contract and supplier management functionality. It automates all key governance disciplines – contract management, performance management, invoice auditing and buyer-supplier collaboration – on a single, integrated platform creating a ‘transparent pane of glass’ between buyers and their suppliers.
With tangible savings of up to 10% of the contract value in the form of invoice reductions, and a 60% decrease in governance costs through automation, Sirion generates material savings that benefit the bottom line.
Sirion enables automated validation of supplier performance against underlying obligations and service levels, driving improved outcomes and stronger business impact.
Sirion creates a single source of truth between buyer and supplier teams, driving improved trust, alignment and collaboration. This leads to stronger, more resilient and more productive relationships with suppliers.
Manage all governance disciplines – contract management, performance management, invoice auditing and buyer-supplier collaboration – on a single, integrated platform
Centrally store all contracts in Sirion’s hierarchical contract repository, with AI-driven granular metadata capture and advanced analytics to provide a clear view of opportunities and risks in the portfolio
Enable enhanced buyer-supplier alignment through a comprehensive view of individual obligations and service levels that the supplier needs to deliver
Automated validation of raw performance data against contractual obligations and service levels allows real-time management of supplier performance
Auto-reconciliation of supplier invoices against the underlying contract data and performance/consumption data enables easy identification of invoicing discrepancies
With end-to-end tracking of governance activities—such as meetings, issues, actions and claims/disputes—Sirion ensures a data-based management of the buyer-supplier relationship
Sirion creates a single source of truth by seamlessly connecting people, data and systems, driving effective collaboration within and across buyer and supplier organizations
SirionBI makes it easy to track progress, identify trends and take proactive steps to address emerging issues
“Since implementing Sirion, we have seen an over 190% return on our investment.”
“Sirion has improved supplier performance and service quality.”
“Sirion combines core CLM components with supplier management capabilities.”