AI-powered contract lifecycle management (CLM) solution is streamlining contract management and supplier management processes globally
SirionLabs, a provider of AI-powered contract lifecycle management (CLM) solution SirionOne, has entered into an alliance with one of the leading auditing, tax and advisory firms in Germany, KPMG AG Wirtschaftsprüfungsgesellschaft (KPMG). The alliance is designed to help KPMG’s clients accelerate the digitalization of their entire contract lifecycle encompassing supplier and client mandates. The solution covers contract authoring, performance management, invoice auditing, relationship management, risk management, and advanced analytics. In addition, SirionLabs’ AI solution is designed to bring all enterprise teams including legal, procurement, finance, and sales together to author stronger agreements, manage risk and strengthen counterparty relationships.
“Contract Lifecycle Management is a strategic business function that adds real value,” said Julien Irmen, Head of Contract Management Transformation at KPMG. “However, companies often look at contracts or contracting in isolation and see it as merely an administrative burden for their sales, procurement, and legal departments. We want our alliance to help companies rethink their contract design and assist them to effectively manage relationships with third parties such as customers and suppliers along with their underlying contracts.”
“Contract Lifecycle Management is a strategic business function that adds real value”
“2022 has started off on a great note for SirionLabs as we look to expand our partnerships across the DASH region. Our collaboration with KPMG in Germany builds on SirionLabs’ global strategic partnerships around legal tech transformation with other independent member firms of the KPMG organization in the US, UK, and Australia,” said Puneet Bhakri, Senior Vice President Global Alliances and Partnerships at SirionLabs. “KPMG and SirionLabs have worked on multiple CLM transformation projects across the globe and have many more interesting projects in the pipeline. With this key development, we are looking forward to helping our clients in Germany take great strides in the areas of contracting, digitization and performance management.”
Customers have already started reaping the benefits of this partnership. In a project currently underway for a market leader in transportation and logistics, the extremely complex process landscape involved in the creation of contracts has already been streamlined and mapped within the SirionOne platform, leading to immense reductions in the processing time and resource requirements.