SirionLabs, the global leader in AI-powered contract lifecycle management (CLM), announced it has been named a Leader in the 2022 Gartner Magic Quadrant for Contract Life Cycle Management. For its third annual CLM market, Gartner, Inc. evaluated 18 CLM vendors across 15 criteria, measured along ability to execute and completeness of vision. "The demand for CLM as a mission-critical asset for businesses has been growing rapidly" Sirion believes its recognition as a Leader in this report reinforces its position as one of the key providers of enterprise contract management technology. The Gartner report states: "Leaders are in the strongest position to influence the market's growth and direction. They demonstrate a market-defining vision for how CLM technology can help companies achieve the business objectives of managing compliance and reducing process bottlenecks. Leaders can execute against that vision through products and services, and have demonstrated business results in the form of revenue and earnings. They excel in their combination of market understanding, innovation, product features and functions, and overall viability."

SirionLabs - SaaS Product firm is looking for people who are driven to make a difference. Bringing together leading innovation, unrivaled Contract Lifecycle Management expertise, and a deep commitment to customer success, SirionLabs helps the world's leading businesses contract smarter. Powered by intelligence uniquely connected across the complete contract lifecycle. SirionLabs' easy-to-use, highly configurable Smarter Contracting Platform brings legal, procurement, and business teams together to author stronger agreements, manage risk and strengthen counterparty relationships. Today, analyst firms such as Forrester, Spend Matters and IDC agrees that SirionLabs is a leader in CLM whilst world-leading businesses including Vodafone, Unilever, DHL, and Morgan Stanley trust SirionLabs to create, control, and manage over 5m contracts worth more than $300bn, in 100 countries around the world.

SirionLabs, the global leader in AI-powered contract lifecycle management (CLM), announced that its SirionOne platform has achieved SAP Ariba certification for integration with SAP's cloud solutions from the SAP Integration and Certification Center (SAP ICC). The integration enables new levels of contract intelligence for customers across legal, procurement, and sales teams by plugging into SAP Ariba and unlocking access to business-critical information in real-time from within enterprise applications. "With this strategic integration, SAP customers can easily manage and optimize end-to-end processes such as sourcing, contracting and spending analysis" With this certification, SAP customers who use SirionOne cut implementation times, lower integration costs, and have full compatibility between the solutions. It provides enterprises with seamless experiences by automating workflows such as the procure-to-pay cycle, purchase order (PO) creation, payments approvals, and spend analytics. "With this strategic integration, SAP customers can easily manage and optimize end-to-end processes such as sourcing, contracting and spending analysis," said Puneet Bhakri, SVP of Global Alliances & Partnerships at SirionLabs. "SirionLabs' interoperability with SAP cloud solutions allows even more enterprises to automate how they develop, manage, and measure contract performance across their organizations."

Contract lifecycle management (CLM), the method of managing a contract from initiation through award, compliance, and renewal, can be costly for companies. World Commerce and Contracting estimates the average cost of a simple contract at $6,900, rising to over $49,000 for more complex agreements. The opportunity is often worth the investment, but without close contract governance, businesses stand to lose up to 40% of a contract's value, a KPMG survey found. The tantalizing prospect of automating the contracting process has drawn a number of entrepreneurs to the space, including UnitedLex co-founder Ajay Agrawal. Agrawal's newest venture is SirionLabs, which comines AI technologies like natural language processing to import and organize contracts, negotiations, and contract review. Highlighting the investor interest in the segment, SirionLabs announced that it closed an $85 million Series D financing round led by Partners Group with participation from existing investors Sequoia Capital and Tiger Global.

It would seem that we are going to have a summer slowdown after all. There weren't enough events to pick from last week, so I skipped my recommendations post, and there are only a few for this week but they are worthwhile. On the bright side, I already know there will be event recommendations for next week as well. Don't forget to save your spot in a live webinar I am presenting with ProPurchaser President Rod Sherkin for Supply Chain Now on August 19th: Post COVID-19 Supply Chains: What is Needed to Adapt. If you are planning your webinar schedule beyond this week, I recommend'A Model for Creating a Data-Driven Culture' from Harvard Business Review on August 19th.