Showing Value As A Leader In 2023 Gartner® Magic Quadrant™ For Contract Life Cycle Management
- 15 min read
- CESCHINO BROOKS DE VITA
Introduction
When we set out on our journey at Sirion, we aimed to evolve the way enterprise teams contract by redefining what contracts can be and what they can do for business teams. Rather than just static documents, we envisioned contracts as dynamic, living assets that could provide teams with vital, actionable data about their businesses and their business relationships — if they have the tools to capture and analyze that data.
Acting on that ethos, we’ve built the leading contract lifecycle management platform for enterprise teams. From preparation to creation to ongoing analysis and business insight, Sirion transforms how enterprise teams interact with and derive value from their contracts every day.
What it Means to be a CLM Leader
Now, for the second year in a row, Sirion is recognized as a Leader in the Gartner Magic Quadrant for Contract Life Cycle Management. Gartner grants this distinction only to providers that, according to Gartner’s analysis, combine the ability to envision the current state and future of the market with the ability to execute on that vision.
In our view, this continuing recognition from Gartner validates Sirion’s mission to transform the way enterprise teams manage their business relationships through better contracting, and our progress toward that goal. To understand the significance of the recognition, it helps to understand how the Gartner Magic Quadrant works.
Understanding the Gartner Magic Quadrant
Gartner, Inc. is a leading technology analyst that publishes annual reports to provide business teams with objective assessments of vendor quality. Each Gartner analysis compares different vendors within a category in a matrix known as the Magic Quadrant, a chart with two primary axes: Ability to Execute and Completeness of Vision.
Ability to Execute entails a vendor’s core product or service and the vendor’s ability to support that offering, including how it brings the offering to market, how the company operates on a daily basis, and the viability of the company as a whole. Completeness of Vision represents a vendor’s understanding of the market, its business model, and several aspects of the vendor’s strategy to bring innovative features and products to market.
Only a provider that excels in both areas receives recognition as a Leader. You can learn more in this blog post on “How to Use Gartner’s Magic Quadrant for Solution Selection.”
How Sirion Became a Leader and Our Promise Moving Forward
We believe that Sirion’s recognition in the Magic Quadrant is the result of our mission to revolutionize the way enterprise teams operate by empowering legal, procurement, and other business-critical departments to effortlessly optimize the value of all their business relationships. Our cutting-edge, full-lifecycle contract management solution helps teams maximize realized value and minimize risk — enabling businesses to thrive in a rapidly changing world.
Thanks to the efficiency and accuracy of Sirion’s comprehensive, AI-powered platform, teams can securely speed up contracting processes, glean data-driven insights for business leaders and stakeholders, and enhance compliance measures across the enterprise.
We consider it an immense honor to again be named a Leader in the Gartner Magic Quadrant. We believe that we share this honor with our customers and our partners, with whom we work hand in hand to build and deliver the world’s foremost contracting ecosystem for high-performing enterprise teams.
As we move into a future where unprecedented technological innovations promise exponential growth in value for the teams that understand how to harness the power of those innovations, we at Sirion remain committed to providing the ultimate value for our customers — both those we serve today, and those we have yet to meet.
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Gartner, Magic Quadrant for Contract Life Cycle Management, Kaitlynn Sommers, Lyne Phelan, Kerrie McDonald, 18 October 2023.
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner research organization and should not be construed as statements of fact. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, and MAGIC QUADRANT is a registered trademark of Gartner, Inc. and/or its affiliates and are used herein with permission. All rights reserved.
Additional Resources
How To Use Gartner® Magic Quadrant™ For Solution Selection
Contract Obligation And Compliance Management Essentials
Contract Management Reporting: A Mission-Critical Capability
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