SirionLabs positioned in highest ranking for the eighth consecutive time by leading independent research firm for its role in transforming the CLM market
SirionLabs, the leader in AI-powered Contract Lifecycle Management (CLM), announced that it has been positioned as a ‘Value Leader’ in Spend Matters’ Fall 2021 SolutionMap for Contract Lifecycle Management. This latest recognition marks the eighth consecutive time SirionLabs has been ranked by Spend Matters as a ‘Value Leader’ – the highest ranking in the analysis indicating both high customer and analyst scores.
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“To have our performance consistently recognized by a leading independent research firm is a testament to the continued innovation we’re bringing to the CLM category and the ongoing value we’re providing to several of the world’s best recognized companies,” said Rajeev Kumar, Chief Revenue Officer of SirionLabs. “This last year has emphasized the importance of improved risk control, streamlined collaboration, and elevated performance management for organizations. Our AI-powered CLM platform, SirionOne, offers differentiated capabilities in each of these areas and this has been a key driver for our accelerated growth recently despite difficult market conditions.”
Spend Matters’ SolutionMap is a definitive procurement technology benchmark due to the depth of analyst assessments, quantity of real-life customer inputs, and frequency of release to accurately reflect vendor updates at the speed of the market. Since inception 4.5 years ago, more than 220,000 procurement professionals have consulted the SolutionMap rankings to make their technology decisions across various categories.
“Contract Lifecycle Management (CLM) is about managing the ultimate commercial system of record: the contract. The technology market has morphed from managing legal documents (even digitized ones) to managing atomic-level commitments that include not just legal obligations with counterparties like suppliers, but also tying into broader risk, compliance, and performance management areas.” said Pierre Mitchell, Chief Research Officer at Spend Matters. “The real differentiation in CLM comes from best-of-breed enterprise CLM providers who are forging ahead into advanced analytics and AI in order to better develop and manage the critical contract knowledge for both risk management and broader partnering.”
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Unlike previous reports, Spend Matters no longer assesses companies based on four user personas (Deep, Configurator, Turn-Key, and CIO-Friendly), but rather maps them based on customer size (Large, Mid and SME). Trusted by more than 200 customers, including Vodafone, The Bank of New York Mellon, BP, and Unilever, SirionLabs is ranked as a CLM leader for the Large (revenues greater than $1 billion/year) and Mid (revenues $250 million – $1 billion/year) Personas.
This recognition follows SirionLabs’ inclusion in the Spend Matters ‘50 Providers to Know’ list for 2021.