Sirion scores highest in 3 out of 5 Use Cases
SirionLabs, global leader in AI-powered contract lifecycle management (CLM), announced that it has been recognized for the third year in a row in the 2022 Gartner Critical Capabilities for CLM report. Sirion ranked highest in Full Life Cycle Use Case. In addition, Sirion scored the highest of all vendors in the Post-Signature and Post-Signature (Advanced) Use Cases; and received the second-highest score for the Pre-Signature (Counterparty-Generated Contracts) Use Case.
The Critical Capabilities report is an essential companion to the recently published Gartner Magic Quadrant, in which Sirion was named a Leader. It provides deeper insight into the CLM market by extending Magic Quadrant analysis. This year’s report evaluates 16 CLM platforms on 12 Critical Capabilities and five Use Cases across the contract lifecycle, making it easy for enterprises to evaluate CLM vendors and their ability to support prioritized use cases.
“As global enterprises rewrite their playbooks in the current environment, contracts are emerging as both a strategic asset and a source of tremendous value. The conversation has started to evolve from contracting as a system-of-record that improves efficiency and strengthens risk and compliance towards plugging revenue leakage and reducing operating costs,” said Ajay Agrawal, Sirion’s Founder and CEO. “Gartner research provides a thorough analysis of CLM platforms that allows enterprises to find the platform best suited for their specific use case to unlock the value in their contracts that can empower them to not just survive but thrive and drive forward through the economic downturn.”
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Gartner states that, “Prolonged periods of market disruption and changing regulations increase pressure on organizations to improve efficiency and scalability in their contracting processes. More advanced CLM features, such as automated contract review, online negotiation and obligation management, help organizations increase efficiency and scalability.”
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Sirion’s AI-based platform, SirionOne, excels in automating the legal review and negotiations process, digitizing legacy contracts, and enabling advanced risk assessment and analytics across the contract portfolio. Its unique differentiators include its ability to extract and organize the data in contracts to generate business value, as well as to monitor and manage performance after the contract is signed.