Webinar featuring BP and WorldCC.
Energy companies are largely characterized by CAPEX-heavy operations with a massive geographic footprint. Despite their monolithic nature, they need to be able to shift gears quickly to respond to new upstream and downstream opportunities, adapt to rapidly changing regulatory and market forces, and pivot with enough agility to respond to the global push towards clean energy. As a result, energy companies are compelled to work with a vast grid of suppliers and sell-side partners to source everything from equipment and infrastructure to generation and distribution services. This complex network of commercial relationships is underpinned by contracts, which are difficult to author and administrate using legacy tools and manual processes. In a highly regulated marketplace, this could expose them to unprecedented risk and lead to substantial losses by way of spiraling procurement costs, budget overruns, and disputes with suppliers and distributors.
"Since implementing Sirion, we have seen an over 190% return on our investment."
Unlike conventional CLM tools, Sirion's AI-powered platform can be easily adapted to contracting and procurement processes that vary across energy enterprises, irrespective of their upstream or downstream position. Our solution can seamlessly integrate with capital project management and other enterprise systems, digitize and mine intelligence from the existing portfolio of contracts, help businesses create smarter contracts, and stringently govern them to ensure compliance and prevent value leakage.
Gain complete visibility into the contract portfolio to ensure compliance with EPA, ACE, NRC, FERC directives and other federal and state environmental and emissions regulations.
Enable intelligent self-service contracting to quickly generate any type of contract, accelerate supplier and distributor onboarding, and ensure better business outcomes.
Leverage contract intelligence to inform repapering and amendment exercises and keep supplier contracts and multi-decade public sector agreements up to date with evolving regulations.
Get an integrated, enterprise-wide view of supplier engagements to align supplier performance, invoices, and the underlying contractual obligations.
Leverage AI to uncover risk elements buried deep within contracts, assess their probable impact, and take corrective action using data-driven insights.
Monitor all your contractual obligations, service levels, milestones, renewal and expirations dates, and more through a single pane of glass.